The richest 1% now own 51% of the world’s wealth, up from ‘only’ owning 45% in 2009, according to Credit Suisse. About a third of them are Americans. Increasingly more of them are Chinese. While the 1% can sound exclusive and small, there are over 48 million of them (us), and many of them aren’t millionaires. Net assets of $744,400 is the border line to be in the global 1%. So, someone with a mortgage-free nice house in certain cities, or many business owners are in that group. The 1% border line within rich countries like the US is higher (more like several million dollars), but on a global basis the rich are getting richer – and you may be one.
(Click on the chart for the link.)
Pretending Not To Panic 
Thank you for providing some perspective and reminding Americans that many/most of us are in the top tiers of the global economy, even if we don’t feel rich. Perhaps we can even work to stop exacerbating some of the poverty and hardship in the world.
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