What is the Wealth Inequality?
I risk sounding ever so political and I am well aware that there are no easy answers. However, as I provide financial planning advice to people in Wimbledon (and wider afield) I imagine that bringing information to your attention about money and wealth is probably important and in particular the wealth inequality. On a global scale most of Britain is wealthy. My clients are all wealthy in terms of the UK, some very wealthy, however I don’t currently advise the mega wealthy (£10m+).
What is the market value of the US?
So have a look at this video, it takes US opinion and US data, but in practice the same phenomena is happening in most nations. To give a little more background, at the end of 2012 the US stockmarket was worth about 46% of the total world stockmarket at £10,540 billion (the UK worth 7% at £1,717 billion). This does not include the value of property or all assets, just the stockmarket capitalisation values. The video mentions 312 million Americans so 1% of this number is 3.12million Americans actually own 40% of the US wealth (and therefore 18.4% of all wealth). It is estimated that the world population is now 7 billion.