Wealth Gap Grows

Wealth Gap Grows

Global wealth inequality has increased since the recession that began in 2007,according to a new report out Monday from Credit Suisse. The Swiss bank said the world’s richest 1 percent owned 48.2 percent of all global wealth in 2014. That share is up from 44.7 percent in 2007, according to the report. Meanwhile, the bottom 50 percent of the world’s population owns less than 1 percent of all global wealth.  The gap between rich and the rest of us is almost back to the level it was at in 2000, when the wealthiest 1 percent accounted for 48.7 percent of wealth. The report estimated that in 2013 some $12.9 trillion was added to the stock of personal wealth. 

Read the report