Redistributing the wealth.

Top 12 countries-Total number of high net worth individuals in 2010

The Guardian has an article called “World’s wealthiest people now richer than before the credit crunch” which points out that while governments are cutting services around the world, the rich are getting richer.

The world’s richest people have now recovered the losses they suffered after the 2008 banking crisis. They are now richer than ever and there are more of them than before the recession struck: nearly 11 million. In the world of the well-heeled, the rich are referred to as “high net worth individuals” (HNWIs) and defined as people who have more than $1m (£620,000) of free cash. According to the annual world wealth report by Merrill Lynch and Capgemini, the category of “ultra-high net worth individuals”, the number of people with assets of at least $30m has climbed 10% to a total of 103,000, and the total value of their investments jumped by 11.5% to $15tn, demonstrating that even among the rich, the richest get richer quicker. Altogether they represent less than 1% of the world’s HNWIs, they own 36% of HNWI’s total wealth.

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