The rich are getting even richer.
The top 1% control 46% of the world’s assets -- and 86% of global wealth is owned by the richest 10%. Yet two-thirds of the world’s adults have wealth of less than $10,000. These numbers, compiled by Swiss bank Credit Suisse in its latest World Wealth Report, underscores that income inequality has become an international crisis. Credit Suisse also expects there will be a billion millionaires and 11 trillionaires within two generations. "Billionaires will be commonplace," note the report's authors.
There are nearly 2 million new millionaires this year compared to 2012, the majority of which are living in the U.S. A recovery in the housing market and a bull market for stocks helped the U.S. post its fifth consecutive year of increases in personal wealth.
Millionaires are experiencing even betterRead More »from More proof that the rich are getting richer and the poor, poorer