Thursday, October 20, 2011

The Global 1%

Via Think Progress:
Millionaires Control Almost 40 Percent Of The World’s Wealth, Make Up Less Than 1 Percent Of Its Population | According to a new Global Wealth Report from Credit Suisse, millionaires and billionaires control nearly 40 percent of the world’s wealth, while making up less than 1 percent of its population. “The 29.7 million people in the world with household net worths of $1 million (representing less than 1% of the world’s population) control about $89 trillion of the world’s wealth. That’s up from a share of 35.6% in 2010,” the report said. As the Wall Street Journal’s Robert Frank put it, “here’s another stat that the Occupy Wall Streeters can hoist on their placards.”