Want to know what it takes to be in the top of wealth around the world?
Let’s just say that this report validates what most Conservatives already know, and that is Leftists are self-absorbed rich rat cats. At least as far as they relate to the rest of the world.
It only takes a “fortune” of $798,000 to be in the 1 percent. That’s not exactly Bill Gates kind of dough now is it. To be in the top 10 percent, it will shock you.
According to BBC,
A report by the charity Oxfam released to coincide with the Davos gathering caused a stir by predicting that the wealthiest 1% will soon own more than the rest of the world’s population.
It drew on research from the bank Credit Suisse, which estimated total global household wealth in 2014 at $263tn (£175tn).
That’s wealth, not income. It is calculated as assets minus debt.
Obviously billionaires like Bill Gates, Warren Buffett and Mark Zuckerberg are part of the 1%. But who else is? According to Credit Suisse, another 47m adults – everyone with wealth of $798,000 (£530,000) or more.
That includes many people in rich countries who may not regard themselves as particularly wealthy, but who simply own their house outright or have paid off a significant chunk off their mortgage.
All it takes to be “wealthy” in a world mired in debt is to have paid off a lot of your mortgage. In other words, you can still be in debt, and be wealthy by today’s standards.
To find out more about where you fit, visit here.