PARKS PROPERTY ADVICE
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GLOBAL TRENDS
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1st QUARTER 2015
World Bank cuts global growth forecast
Richest 1% forecast to soon own more than the rest of the world
For sale: a disused US missile silo near where aliens might have landed
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3rd QUARTER 2014
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2nd QUARTER 2014
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Richest 1% forecast to soon own more than the rest of the world
The wealthiest 1% will soon own more than the rest of the world's population, according to a study by anti-poverty charity Oxfam. The charity's research shows that the share of the world's wealth owned by the richest 1% increased from 44% in 2009 to 48% last year. On current trends, Oxfam says it expects the wealthiest 1% to own more than 50% of the world's wealth by 2016. Oxfam based its prediction on data from the annual Credit Suisse Global Wealth datebook, which gives the distribution of global wealth going back to 2000. It uses the value of an individual's financial and non-financial assets, mainly property and land, minus their debts to determine what individuals "own". The data excludes wages or income.
