WASHINGTON (dpa-AFX) - The world's richest one percent now owns more than half of the world's wealth, according to a new report.
The total wealth in the world grew by six percent over the past 12 months to $280 trillion, marking the fastest wealth-creation since 2012, according to a new report from Credit Suisse.
The top one percent now own 50.1 percent of the world's wealth, up from 45.5 percent in 2001, showing the growing gap between the rich and the poor.
'The share of the top 1% has been on an upward path ever since [the crisis], passing the 2000 level in 2013 and achieving new peaks every year thereafter,' the annual report said.
There are now 36 million millionaires in the world., with 15.3 million millionaires in the U.S. itself.
Meanwhile, on the other side, the world's 3.5 billion poorest adults each have assets of less than $10,000. Around 70% of the world's working age population account only for 2.7% of global wealth.
Copyright RTT News/dpa-AFX