Proof Point
According to data from World Inequality Report, income share of top 1% and bottom 50% remained fairly constant between 1997 and 2016, with top 1% owning 20% of global income in 2016
Share of Global Income of Top 1% and Bottom 50%
1997 – 2016 (percentage)
Proof Point Findings
- Income – Includes labor income or salary derived from work, dividends or earnings from stocks owned, and capital income or profits gained from business and sale of assets
- Unchanged Income Share – Income share remained constant between 1997 and 2016, with top 1% of population retaining 20% of global income in 2016, unchanged from 1997, and bottom 50% only getting 10% of global wealth in 2016, slight increase from 9% in 1997
- 2007 Financial Crisis – Income share of top 1% of population saw decline after 2007 financial crisis, dropping from 22% to 21% in 2009, sharpest two-year decline in 20 years
- Key Drivers – Include sustained strong economic performance of emerging markets, particularly in China and India, new generation of billionaires from tech companies, increasing household consumption, labor tax reduction, and improved social services
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Date Last Updated |
September 24, 2018
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