The Strategist

Share of global wealth rises to record levels during the pandemic

12/08/2021 - 07:28

The World Inequality Report 2022, produced by the French research organization World Disparity Lab, which examines global inequality, claims that the pandemic has greatly exacerbated wealth inequality.

According to the report, 2,750 billionaires now control 3.5 percent of the world's wealth, up from 1% in 1995.

Global wealth disparities increased at an unprecedented rate during the epidemic, according to the report. According to the experts, the combined wealth of the lowest half of humanity is only 2% of the wealth of the world's wealthiest people.

The Middle East and North Africa have the greatest wealth disparities, with the richest ten percent of the population owning about 60 percent of the region's total revenue. Sub-Saharan Africa is ranked second with 57%, followed by Latin America (55%), and South and Southeast Asia (55%). 

The richest ten percent hold 48 percent of total income in Russia and Central Asia, and 45 percent in North America. In Europe, property inequality is the least pronounced, with the wealthiest 10% of the population controlling 36% of total income.