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Home > Business > PTI > Report

Richest 2% own over half of world's wealth

Dharam Shourie in New York | December 05, 2006 20:03 IST

The richest two per cent of adults in the world own more than half of global household wealth, according to a study released on Tuesday.

In 2000 the richest one per cent of adults owned 40 per cent of global wealth, a report by the Helsinki-based World Institute for Development Economics Research of the United Nations University said.

Its comprehensive study of personal wealth has revealed that the richest 10 per cent of adults accounted for 85 per cent of the total global assets.

In contrast, the bottom half of the world adult population owned barely one per cent of global wealth. Average wealth amounted to $144,000 per person in the USA in year 2000, and $181,000 in Japan.

In India, the per capita assets is $1,100, and in Indonesia its $1,400. According to the study, almost all of the world's richest individuals live in North America, Europe, and rich Asia-Pacific countries. Each of these groups of countries contribute to about one third of the world's wealthiest 10 per cent. 

The second group of richest people belong to China, while India, Africa, and low-income Asian countries dominate the third group.

A small number of countries, the study finds, account for most of the wealthiest 10 per cent in the world.  While Americans account for 25 per cent of the wealthiest, 20 per cent are Japanese.

These two countries feature even more strongly among the richest one per cent of individuals in the world, with 37 per cent residing in the USA and 27 per cent in Japan.

© Copyright 2006 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

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Number of User Comments: 2

Sub: Richest 2% own over half of world's wealth ?

They need to think and feel for the millions who die of malnutrition, disease and hunger. Our best wishes to them as they get ready ...

Posted by Dr.Cajetan Coelho

Sub: Owning half the world's wealth

India's per capita is even lower than most African nations - puts to shame her continual boasts of the growth and size of their economy, ...

Posted by labrea



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