Richest 1% Now Control Record 50.1% of Global Wealth

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Good news: Global wealth rose by 6.4% in 2017 in the fastest yearly increase since 2012, the Financial Times reports. Bad news: The distribution of that new wealth was as uneven as ever. According to Credit Suisse's 2017 Global Wealth Report, the richest 1% now account for a record 50.1% of all global wealth, approximately $140 trillion, up from 42.5% in 2008. 

Meanwhile the poorest 70% of adults have just 2.7% of global wealth—that's about 3.5 billion adults with less than $10,000 in assets each, the Guardian reports. “The outlook for the millionaire segment is more optimistic than for the bottom of the wealth pyramid,” Fortune quotes the report as stating. There were 2.3 new millionaires created in 2017, bringing the total to 36 million millionaires worldwide. That's nearly triple how many there were in 2000.

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