Wednesday, January 20, 2016

Credit Suisse: poorest half of the global population own less than 1% of total wealth, the richest 1% have more wealth than the rest of the world

In its Global Wealth Databook 2015, Credit Suisse, a leading global financial services company, reveals staggering facts about world's wealth distribution. Global Wealth Databook is based on research undertaken by recognized authorities from the Credit Suisse Research Institute.
In another research report, Oxfam, global organization with mission to create lasting solutions to poverty, hunger, and social injustice, states that we live in a world where just 62 individuals have as much wealth as the 3.6 billion poorest people, a figure that has fallen from 388 five years ago. Extreme inequality is the result of a skewed economic and political system that favors the few at the expense of everyone else. A global network of tax havens further enables the richest individuals to hide $7.6 trillion.