Since 2020, the richest 1% of people have accumulated close to two-thirds of all new wealth created around the world, according to a new report from Oxfam.
It seems like it’s more of an artifact that majority of global population lives in abject poverty. According to the 2018 Global Wealth Report, you need a net worth of $871,320 with net the worth being the value of financial assets plus real assets (principally housing) owned by households, minus their debts. A significant portion of westerners qualify, hence why the west is referred to as the golden billion.
It seems like it’s more of an artifact that majority of global population lives in abject poverty. According to the 2018 Global Wealth Report, you need a net worth of $871,320 with net the worth being the value of financial assets plus real assets (principally housing) owned by households, minus their debts. A significant portion of westerners qualify, hence why the west is referred to as the golden billion.
Ah I stand corrected then. Thank you