"The Global Gilded Age"
3 billion people live on less than 2 bucks a day.
According to a new report, just over 8 million people worldwide control $31 TRILLION in assets. In other words, one-tenth of one percent of the world’s population controls one-quarter of the world’s assets.
A strong global economy gave 600,000 people an entree last year into a highly envied group: the world’s millionaires.
The annual World Wealth Report…found that there were 8.3 million people worldwide with $1 million or more in financial assets at the end of 2004, up from 7.7 million a year earlier.
Their total wealth rose 8.2 percent to $30.8 trillion in 2004, giving them control of nearly a quarter of the world’s financial assets, according to Petrina Dolby, vice president of Capgemini’s wealth management practice.
Read the full report here.