Wealth distribution in the U.S. has been a hot topic lately, leading many to express concerns that the system is somehow inherently unfair or unjust. Credit Suisse published an interesting chart this morning showing a breakdown of how the world’s wealth is distributed as a reminder of why people might be upset.
At the top the global wealth pyramid, there are 32 million people, roughly 0.7% of the world population, who are worth more than $1 million USD and control $98.7 trillion, or 41.0% of global wealth.
In contrast, the bottom 3.2 billion people, which is 68.7% of the population, have less than $10,000 and control only $7.3 trillion, or 3.0% of the wealth.
At the end of October, the value investor Mohnish Pabrai gave a presentation and took part in a Q&A session at Boston College and Harvard Business School on the Uber Cannibal Investor Framework, which he has developed over the past decade. Uber Cannibals are the businesses “eating themselves by buying back their stock,” the value Read More
Via: Floating Path