1.2% of adults have 47.8% of the world’s wealth while 53.2% have just 1.1% – Michael Roberts
“…within the wealthiest group, the inequality is equally stark – with yet another pyramid. There are 264,200 ultra-high-networth (UHNW) individuals with net worth above $50 million at the end of 2021. This is 46,000 more than the 218,200 recorded at the end of 2020, which in turn was 43,400 higher than in 2019. These increases are more than double the increases recorded in any other year this century. Taken together, it means that the number of adults with wealth above $50 million expanded by more than 50% in the two years 2020 and 2021. This recent rise in inequality is due to the surge in the value of financial assets during and after the COVID-19 pandemic – and it’s the rich that own most of the financial assets…
“The imperialist bloc is North America, Europe and Japan with add-ons from Australia. Just as the imperialist bloc rules over trade, GDP, finance and technology, it has nearly all the personal wealth.”