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the amount of wealth needed to be
considered part of the global elite is
not a fortune worth billions or even
millions of pounds according to a new
report according to the Global Wealth
Report 2018 by the credit Swiss Research
Institute only a net worth of 669
thousand seven hundred thirty five
pounds 871 thousand three hundred twenty
dollars is needed to be classed as being
in the worldwide 1% a person's welfare
net worth is defined by the think-tank
is the value of financial assets plus
real assets principally housing owned by
households minus their debts more than
three million Britons seventeen million
Americans and four million Chinese
people are in the 1% worldwide according
to credit Swiss
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to be among the top 10 percent worldwide
you do not even need six figures of net
worth just seventy one thousand six
hundred thirty-eight pounds ninety-three
thousand $170 and even being worth just
three thousand two hundred thirty seven
pounds four thousand two hundred ten
dollars makes you still richer than half
of the world's population during the
twelve months since the think tanks last
report to mid twenty eighteen the
aggregate global wealth rose by ten
pounds seven trillion fourteen trillion
dollars to two hundred seventy seven
trillion pounds three hundred seventeen
trillion dollars which represents a
growth rate of around four six percent
dot credits Swiss reports while the
bottom half of adults collectively owns
less than 1% of total wealth the richest
decile top ten percent of adults
owns eighty-five percent of global
wealth and the top percentile alone
accounts for almost half of all
household wealth forty seven percent the
report published this month shows the
extreme wealth inequality around the
world but added that the increasing gap
between rich and poor might be slowing
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it says there are signs that wealth
inequality is no longer rising and that
the prevailing evidence suggests it may
well have leveled out albeit at a very
high level how financial assets among
many of the richest people in richest
countries are distributed peaked in 2015
and has been declining since then the
report states
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the authors added in previous reports we
predicted that wealth inequality would
follow suit possibly with a slight lag
and there is evidence that this is now
the case the share of the top decile and
the top 5% remains at the same level as
in 2016 while the share of the top 1%
has edged down from 47 5% to 47.2%
according to our best estimate still has
the highest number of citizens in the
top 1% but China is now clearly
established in second place in the world
wealth hierarchy the report adds after
the referendum vote of 2016 caused the
exchange rate and stock market to fall
sharply in Britain the following 12
months saw wealth per adult rise 1% in
terms of US dollars and 2 percent in
British pounds the report said
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but the outlook for the UK is now
uncertain with the probability of a No
Deal brexit the think-think report
authors state total wealth in the UK is
the same now as it was in the United
States in 1958 and is expected to reach
11 pounds five trillion 15 trillion
dollars in 2023 an improvement of only
two US yearses which according to the
report was reflecting the likely effect
of brexit on the economy the report
states britain has 2.4 million u.s.
dollar millionaires which represent 6%
of all millionaires globally among
developed economies Germany and France
are expected to see a rise in the number
of millionaires by just below 900,000
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Canada and Australia will also
experience of significant rise in their
numbers of millionaires but given the
lower growth prospects after brexit the
UK is thought by credit Swiss to see a
smaller rise in millionaire numbers over
the next 5 years Russia which has 74
billionaires still has one of the most
concentrated distributions of assets of
advanced nations with 82% of wealth held
by the top 10% which is higher than
China with 62% despite household wealth
growing by 500% since the Millennium
India has considerable wealth poverty
with 91% of the adult population having
below 8,000 773 pounds $10,000 although
India has four times the population of
the u.s. total wealth in the country is
comparable to the level for the United
States 90 years ago it is estimated that
women account for about 40 percent of
all global wealth
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