Last year’s Credit Suisse’s annual global wealth report showed that once again Australians have the highest median wealth in the world, and we have a very low percentage of poor people.
The study also reported lots of other interesting results including data on the share of national wealth owned by the top 10% of the populations of a number of countries.
Here’s the percentage share of wealth owned by the top 10% in the countries included in the study:
Russia’s richest 10% owns an incredible 84.8% of that country’s wealth.
At the opposite end of the scale, only two countries’ top 10% own less than half of national wealth: Belgium at 47.2% and Japan at 48.5%.
The wealth shares of the top 10% grew dramatically since the year 2000 in a number of developing countries like Egypt and China, while declining in places as diverse as Canada, Saudi Arabia, and Poland.
In Peru, the US, and Australia, there was no change in the wealth share over the last 14 years.
The following graphic shows the change in the wealth share of the top 10% between 2000 and 2014.
Countries in blue saw the top decile’s share shrink, while the elites of the countries in red had their shares grow:
Read more at Business Insider
SUBSCRIBE & DON'T MISS A SINGLE EPISODE OF MICHAEL YARDNEY'S PODCAST
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
NEED HELP LISTENING TO MICHAEL YARDNEY'S PODCAST FROM YOUR PHONE OR TABLET?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
PREFER TO SUBSCRIBE VIA EMAIL?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.