Sub-Saharan Africa has 16 billionaires amongst 358,000,000 people living in extreme poverty. More than 90% of African adults possess wealth of less than $10,000
Income inequality in Russia almost doubled in 20 years from 1991 as a result of liberal economic reforms and deregulation.
Average factory worker’s hourly wage:
China - $1.36
Germany - $25.80
Average monthly rent on 1 bedroom apartment:
China - $342.99
Germany - $562.37
The "living wage" for Cambodia is $160/month. In 2013 the Cambodian government approved a $95/month wage for garment workers.
There are around 128,000 ultra-high-net-worth individuals (personal wealth of more than $50M) in the world. Half (49%) of them live in the USA. China has the second highest concentration at just 6%.
Halting rising inequality in India would lift 90 million people out of extreme poverty by 2019. Currently 94% of adults there have wealth of less than $10,000.
Brazil's minimum wage rose by nearly 50% between 1995 and 2011 leading to a parallel decline in poverty and inequality. Brazil's SEMCO SA employs more than 3,000 workers, limiting executive pay through wage ratios of 10:1.
Only 3 of the 30 richest people in the world are women. Only 23 Fortune 500 companies employ a female CEO. At the current rate it will take 75 years to bridge the gender pay gap.
In 2008/09 the Rwandan government authorised tax exemptions that could have doubled health and education spending.
"Without government intervention, the market economy tends to concentrate wealth in the hands of the small minority causing inequality to rise". Thomas Piketty - Economist
Global tax systems are uncoordinated, opaque and failing to tackle poverty and inequality. Oxfam estimates that if low and middle-income countries (excluding China) closed their tax revenue gap by 50% they could collect an additional $1tn.
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4.7 Billion adults share the World's $236 Trillion total wealth between them, enough for $56,000 each if it were divided equally... but it's not.How much personal wealth does the majority of the world's population have?
Most people in the world (69.8%) have less than $10k personal wealth.
To be in the richest 50% of the World's population you need just $3,650 of personal wealth.
$77,000 gets you into the top 10%.
$798,000 of wealth makes you a member of the exclusive top 1%.How is the world's total wealth divided between these groups?
Less than 1% of the people on earth control a staggering 44% of the available wealth.
In fact the top 80 richest people in the world have the same combined wealth as 50% of the World's population.So where in the world is all this wealth?