0.004% of world population have $30 trillion assets


This 2012 video from the USA is called Exhaustive Study Finds Global Elite Hiding Up to $32 Trillion in Offshore Accounts.

From daily The Morning Star in Britain:

Super-rich get super-richer, says UBS

Friday 21st November 2014

SWISS bank UBS revealed today that just 0.004 per cent of the world’s adult population control nearly $30 trillion (£19trn) in assets — 13 per cent of the world’s total wealth.

Reprising something socialists already know, the bank, working with luxury industry consultant Wealth-X, noted that concentration of money in the hands of the ultra-rich was steadily growing.

They said that, of the world’s population of over seven billion, a mere 211,275 people qualified as ultra-high net worth (UHNW), that is to say those with assets above $30 million (£19m).

Of them, 2,325 have more than $1 billion (£638m).

Their numbers grew 6 per cent over the past year, but their wealth grew 7 per cent, as asset markets like stocks and property soared around the world.

The fastest growth came in the “demi-billionaire” group, worth a half-billion to a billion dollars apiece.

“Even amidst geopolitical conflicts, socio-economic strife and volatile currency markets, the world’s equity markets displayed strong performances, thereby enabling UHNW individuals’ wealth to increase and their influence across industries and sectors to grow,” UBS said.

Of the nearly £19trn this elite group controls, just over one-third is in the hands of tycoons in North America, more than a quarter in Europe and 23 per cent in Asia.

Of this filthy rich crew, it’s little surprise that 87 per cent are men — average age 59 — and nearly a quarter of them “work” in banking.

The average ultra-rich woman was 57. Nearly half of them became wealthy through inheritance, while one-third had self-made wealth.

On average, the super-rich each spend around $1 million (£638,000) a year on luxury goods and services.

“For example, individuals with private jets use their aircraft not only for leisure, but also for business purposes,” the Swiss bankers noted.

On the other hand, the life of the obscenely rich is apparently not all a bed of roses.

While yachts, and particularly superyachts, are usually a non-necessity, many of these people lead very public lives and “the privacy of a family holiday on a yacht is a very special treat.”

6 thoughts on “0.004% of world population have $30 trillion assets

  1. Of course they are putting huge sums of cash offshores to avoid taxes. I think anyone would if they had that kind of money. It would be nice if tax breaks were given by hiring more people full time and providing health care for employees.

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  2. Any one checked IMF, World Bank, accounts? am unable to get what these banks are up to as far as transparency of their ledgers, those who are coming into politics and the other respectable professions, know to be in the club, have to abide by the culture of corruption, you have first get a education and get in with the contacts at university, with those who organize institutional crime, in fact you cannot get in the club unless you are corrupt, or seen as material to become corrupt.
    Clearly the so called capitalistic/democracy, is for the financial elite, all politicians have to toe the line, I would say the elite are correct to think the lower classes are the same moral fibre as the elite, if the lower classes could get into the 1%, would be the same, this is what gives the elite the fire or energy to pursue their obsession of hoarding.

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