Poorest half of global population barely owns any wealth - the richest 10 % - 76 % of global wealth
World Inequality Report published: The poorest half of the global population barely owns any wealth at all, possessing just 2% of the total. In contrast, the richest 10% of the global population own 76% of all wealth: Contemporary income and wealth inequalities are very large: An average adult individual earns PPP €16,700 (PPP USD23,380) per year in 2021, and the average adult owns €72,900 (USD102,600). These averages mask wide disparities both between and within countries. The richest 10% of the global population currently takes 52% of global income, whereas the poorest half of the population earns 8% of it. On average, an individual from the top 10% of the global income distribution earns €87,200 (USD122,100) per year, whereas an individual from the poorest half of the global income distribution makes €2,800 (USD3,920) per year (Figure 1). Global wealth inequalities are even more pronounced than income inequalities. The poorest half of the global population barely owns any wealth at all, possessing just 2% of the total. In contrast, the richest 10% of the global population own 76% of all wealth. On average, the poorest half of the population owns PPP €2,900 per adult, i.e. USD4,100 and the top 10% own €550,900 (or USD771,300) on average (Figure 4)
Reliable inequality data as a global public good We live in a data-abundant world and yet we lack basic information about inequality. Economic growth numbers are published every year by governments across the globe, but they do not tell us about how growth is distributed across the population – about who gains and who loses from economic policies. Accessing such data is critical for democracy. Beyond income and wealth, it is also critical to improve our collective capability to measure and monitor other dimensions of socio-economic disparities, including gender and environmental inequalities. Open-access, transparent, reliable inequality information is a global public good.
This report presents the most up-to-date synthesis of international research efforts to track global inequalities. The data and analysis presented here are based on the work of more than 100 researchers over four years, located on all continents, contributing to the World Inequality Database (WID.world), maintained by the World Inequality Lab. This vast network collaborates with statistical institutions, tax authorities, universities and international organizations, to harmonize, analyze and disseminate comparable international inequality data.
World Inequality Report
World Inequality Report is a report by the World Inequality Lab at the Paris School of Economics that provides estimates of global income and wealth inequality based on the most recent findings compiled by the World Inequality Database (WID). WID, also referred to as WID.world, is an open source database, that is part of an international collaborative effort of over a hundred researchers in five continents. The World Inequality Report includes discussions on potential future academic research as well as content useful for public debates and policy related to economic inequality. The first report, entitled World Inequality Report 2018, which was released on December 14, 2017, at the Paris School of Economics during the first WID.world Conference, was compiled by Facundo Alvaredo, Lucas Chancel, Thomas Piketty, Emmanuel Saez, and Gabriel Zucman based on WID data. The 300-page report cautions that since 1980, around the globe, there has been an increase in the gap between rich and poor. In Europe, the increase in inequality increased more moderately while in North America and Asia, the increase was rapid. In the Middle East, Africa, and Brazil, income inequality did not increase but remained at very high levels. In an interview with Quartz, Piketty predicted that if the "world follows the trajectory of the US" inequality would get much worse. The 2022 World Inequality Report was published on Dec. 7th 2021. [1]
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