The richest 2% own more than half of all wealth, according to a new study by a United Nations research institute.
The report, from the World Institute for Development Economics Research at the UN University, says that the poorer half of the world’s population own barely 1% of global wealth.
What is new about this report, the authors say, is its coverage.
It deals with all countries in the world – either actual data or estimates based on statistical analysis – and it deals with wealth, where most previous research has looked at income.
What they mean by wealth in this study is what people own, less what they owe – their debts. The assets include land, buildings, animals and financial assets.
Update:
Found the study here:
World Institute for Development Economics Research.