The international charity organization Oxfam reported at the beginning of this year that only eight men own the same amount of wealth as the 3.6 billion people who make up the poorest half of the world population. (1)
Credit Suisse Global Wealth Report 2016 (2) listed the countries that have the biggest share of millionaires:
Number of dollar millionaires (% of world total) by country
COUNTRY
|
(%)
|
USA
|
41
|
Japan
|
9
|
United Kingdom
|
7
|
China
|
5
|
France
|
5
|
Germany
|
5
|
Australia
|
3
|
Canada
|
3
|
Italy
|
3
|
South Korea
|
2
|
Switzerland
|
2
|
Spain
|
1
|
Taiwan
|
1
|
Rest of the world
|
12
|
During this century, the number of millionaires has increased by 155 % and
the number of ultra high net worth (UHNW) individuals has increased by 216 %. (Credit Suisse Wealth Report 2016, page 19) USA has had significantly larger amount of millionaires than any other country. However, the amount of "new millionaires" and UHNW individuals from emerging economies is rising fast.
Allianz Global Wealth Report 2015 (3) listed the countries that have biggest share of global personal wealth (financial assets):
COUNTRY
|
(%) 2015*
|
USA
|
41.60
|
China
|
10.48
|
Japan
|
8.89
|
UK
|
5.63
|
Germany
|
3.85
|
France
|
3.45
|
Canada
|
3.00
|
Italy
|
2.90
|
Australia
|
1.98
|
South Korea
|
1.60
|
*2015: Gross
financial assets / Global share in %
USA has had significantly larger share of global personal wealth than any other country. However, for example China's share has risen from 4.13 % in 2010
to 10.48 % in 2015. (3,4)
Allianz has also calculated Gini coefficient of wealth distribution. The higher the Gini coefficient is, the greater the inequality of wealth distribution is in a certain country. Here are some figures from Allianz Global Wealth Report 2016 (5):
Gini coefficient of wealth distribution (in %)
Ten most unequal countries (of 53
selected countries):
USA
|
0.81
|
Sweden
|
0.79
|
South Africa
|
0.78
|
United Kingdom
|
0.75
|
Indonesia
|
0.74
|
Austria
|
0.73
|
Brazil
|
0.73
|
Chile
|
0.73
|
Colombia
|
0.73
|
Germany
|
0.73
|
Ten most equal countries (of 53 selected
countries):
Australia, Belgium and Italy
|
0.59
|
Norway
|
0.57
|
Spain
|
0.56
|
Greece
|
0.55
|
Japan
|
0.55
|
Ireland
|
0.54
|
Slovenia
|
0.53
|
South Korea
|
0.53
|
China
|
0.52
|
Slovakia
|
0.44
|
The distribution of wealth is most unequal in USA and most equal in Slovakia. Inequality has increased in the world's traditional industrialized countries.
The countries with an improved Gini coefficient (i.e. greater equality) tend to be emerging markets. (Allianz Global Wealth Report 2016, page 47)
Sources:
1) Oxfam press release 16.1.2017:
https://www.oxfam.org/en/pressroom/pressreleases/2017-01-16/just-8-men-own-same-wealth-half-world
2) Credit Suisse Global Wealth Report 2016:
https://www.credit-suisse.com/ch/en/about-us/research/research-institute/publications.html
3) Allianz Global Wealth Report 2010:
http://piketty.pse.ens.fr/files/capital21c/xls/RawDataFiles/WealthReportsEtc/OtherWealthReports/AllianzGlobalWealthReport2010.pdf
4) Allianz Global Wealth Report 2015:
https://www.allianz.com/v_1444215837000/media/economic_research/publications/specials/en/AGWR2015_ENG.pdf
5) Allianz Global Wealth Report 2016:
https://www.allianz.com/v_1474281539000/media/economic_research/publications/specials/en/AGWR2016e.pdf
