Richest 0.001% Now Own Three Times More Wealth Than Poorest Half of Humanity Combined

“The choices we make in the coming years will determine whether the global economy continues down a path of extreme concentration or moves toward shared prosperity.”

By Jake Johnson

A landmark report on global inequality published Wednesday shows that the chasm between the richest slice of humanity and everyone else continued to expand this year, leaving the top 0.001%—fewer than 60,000 multimillionaires—with three times more wealth than the poorest half of the world’s population combined.

The global wealth gap has become so staggering, and its impact on economies and democratic institutions so corrosive, that policymakers should treat it as an emergency, argues the third edition of the World Inequality Report, a comprehensive analysis that draws on the work of hundreds of scholars worldwide. Ricardo Gómez-Carrera, a researcher at the World Inequality Lab, is the report’s lead author.

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