Study shows the Richest 1% now own more than 50% of the world's wealth

The gap between the rich and poor is widening even more severely.


BEAM Team

15 Nov, 2017

Study shows the Richest 1% now own more than 50% of the world's wealth | BEAMSTART News

- From our Sponsors -

According to analysts from Credit Suisse, 1% of the world's richest individuals now own over half the world's wealth. The gap in wealth is expected to worsen in the coming years, impacting millennials more severely.

The study also showed a constant rise of "dollar millionaires" in the recent years, particularly due to the recent fluctuations of currency exchange rates across the world.

It is estimated that over 620,000 individuals became millionaires as a result of the Euro strengthening, and over 300,000 individuals lost their millionaire status due to the depreciating value the British Pound and Japanese Yen currencies respectively.  What's even more interesting is that over half of these new dollar millionaires the study reports are from the US.

Dollar millionaires are expected to rise by an approximate figure of 22% according to Credit Suisse. However what's even more alarming is that the number of adults with lower than $10,000 in annual income is expected to shrink only by 4%.

“Despite higher mean wealth per adult, median wealth fell again this year in Africa, Asia-Pacific and Latin America. Our projections for 2022 suggest more pessimistic scenarios for the immediate years ahead,” the researchers said.
“Looking at the bottom of the wealth distribution, 3.5 billion people—corresponding to 70% of all adults in the world—own less than $10,000. Those with low wealth tend to be disproportionately found among the younger age groups, who have had little chance to accumulate assets, but we find that millennials face particularly challenging circumstances compared to other generations,” they wrote.
Essentially, millennials are more likely to be unemployed or earning less, priced out of the housing market, and unable to get a pension. Baby boomers have most of the wealth and the housing, so “millennials are doing less well than their parents at the same age.”

Credit Suisse's researches concluded that only a “minority of high achievers and those in high-demand sectors such as technology or finance to effectively overcome the ‘millennial disadvantage.'”

- From our Sponsors -

Latest Jobs

Account Executive

Novoflow

California,

Full Time

USD 200000 — USD 250000 yearly

Sales Development Representative

Usul

California,

Full Time

USD 70000 — USD 150000 yearly

Senior Software Engineer

Crustdata

California,

Full Time

USD 150000 — USD 220000 yearly

Founding Recruiter

Giga

California,

Full Time

USD 110000 — USD 170000 yearly

Hardware Engineer

Makani Science

California,

Full Time

USD 65000 — USD 130000 yearly

Software Engineer

Solidroad

California,

Full Time

USD 170 — USD 220 yearly

Applied AI Engineer

Argon AI, Inc.

New York,

Full Time

USD 200000 — USD 300000 yearly

Account Executive

Conduit

California,

Full Time

USD 160000 yearly

Founding Recruiting Lead

Confido

New York,

Full Time

USD 155000 — USD 185000 yearly

Machine Learning Intern

Bindwell

California,

Internship

USD 80000 — USD 120000 yearly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2025 BEAMSTART. All Rights Reserved (Legal).