The world’s richest 1% of families and individuals hold over half of global wealth, according to a new report from Credit Suisse. The report suggests inequality is still worsening some eight years after the worst global recession in decades.[…]
“The bottom half of adults collectively own less than 1% of total wealth, the richest decile (top 10% of adults) owns 88% of global assets, and the top percentile alone accounts for half of total household wealth,” the Credit Suisse report said.[…]
In most countries, including the US, a large wealth gap translates into those at the top accruing political power, which in turn can lead to policies that reinforce benefits for the wealthy.
The real question is: how many used political power to acquire wealth as opposed to honestly producing it economically? If someone created the wealth — like a Bill Gates, Warren Buffet and Jeff Bezos — then they rightfully own the assets they created.
Billionaire politicians and dictators (Castro, Putin, etc.) who earned their money through political means — theft and cronyism — do not.
Sadly Business Insider, like much of the anti-capitalist press, does not make that distinction.