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Just 0.001% hold three times the wealth of poorest half of humanity, report finds (www.theguardian.com)

submitted 5 days ago* (last edited 5 days ago) by HellsBelle@sh.itjust.works to c/world@lemmy.world

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Fewer than 60,000 people – 0.001% of the world’s population – control three times as much wealth as the entire bottom half of humanity, according to a report that argues global inequality has reached such extremes that urgent action has become essential.

The authoritative World Inequality Report 2026, based on data compiled by 200 researchers, also found that the top 10% of income-earners earn more than the other 90% combined, while the poorest half captures less than 10% of total global earnings.

Wealth – the value of people’s assets – was even more concentrated than income, or earnings from work and investments, the report found, with the richest 10% of the world’s population owning 75% of wealth and the bottom half just 2%.

In almost every region, the top 1% was wealthier than the bottom 90% combined, the report found, with wealth inequality increasing rapidly around the world.

“The result is a world in which a tiny minority commands unprecedented financial power, while billions remain excluded from even basic economic stability,” the authors, led by Ricardo Gómez-Carrera of the Paris School of Economics, wrote.

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[–] MBech@feddit.dk 4 points 5 days ago

Then they'll be welcome to fuck right the fuck off, but I absolutely assure you, there is someone willing to start a new company in their place, if the market was previously in the "make you a billionaire" territory, but now the person can "only" accrue €20 million, someone will fill that hole, but that someone won't be a piece of shit like Jeff Besos, because they won't be allowed to become that economically powerful. Instead it'll be 500 smaller companies, all competing for the market.

What happened to the different european wealth taxes is that it was implemented with loopholes as big as the France-England tunnel, and any rich asshole who didn't feel like paying taxes, could just transfer it somewhere else, and call it an investment. Instead, tax every single cent they move out of the country at 90%. That way they're forced to invest their money in the country they're making their money off of. Maybe give them a rebate if they move it within Europe to facilitate growth across the union, let's tax that at 45% instead then.