RT: Richest 1% own 50 percent of world wealth- Credit Suisse report

2012: What's the 'real' truth?

Published time: October 14, 2014 14:36

Reuters / Eric Gaillard

Reuters / Eric Gaillard

World wealth has reached a record $263 trillion but is concentrated in fewer hands. The richest 1 percent have accumulated more wealth, and own almost 50 percent of it, which could trigger recession, according to a new report by Credit Suisse.

The Credit Suisse Global Wealth Report, released Tuesday warns that the “abnormally high wealth income ratios”may spark a recession, as high disparity leads to economic friction.

Global wealth has grown to a record $263 trillion in mid-2014, $20.1 trillion more, and an 8.3 percent increase, over mid-2013. Household wealth has more than doubled since 2000, when the same report calculated it at $117 trillion.

Leading the money trail is the United States, dubbed ‘Land of Fortunes’ by the report, which again boasts the highest average wealth. It is home to 34.7 percent ($91 trillion) of global wealth. Europe’s…

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