Friday, October 17, 2014

Who are the richest people in the world?

Australians. See Property makes Australians the world’s richest, says Credit Suisse. Excerpts:
"Thanks to their houses, Australians are the richest people in the world, according to the investment bank Credit Suisse.

The fifth annual study by the Swiss bank of global wealth trends found the median Australian adult was worth more than $US225,000 ($258,000) in June, well ahead of the second wealthiest population on this measure, the ­Belgians, at $US173,000.

They were followed by the Italians, French and British, all at around $US110,000.

Only 6 per cent of Australians have wealth below $US10,000, compared with 29 per cent in the United States and 70 per cent for the world as a whole.

Household wealth in Australia is heavily skewed to "real assets" – essentially property – which average $US319,700 per household, or 60 per cent of gross assets."

"Australia is classified a "medium ­inequality" country by the Credit Suisse researchers, a group that includes New Zealand and is defined by the richest 10 per cent controlling between 50 per cent and 60 per cent of the country's net wealth.
Among developed economies, Hong Kong, Switzerland and the United States are deemed to have "very high inequality", where the top 10 per cent control more than 70 per cent of the wealth. 
This is borne out by the average wealth figures of the US. Median adult wealth in the world's largest economy stood at only $US54,000 – well out of the top 10 richest populations.
But when measured on an average – or mean – basis, the US ranked fourth in terms of household wealth at $US348,000."



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