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The wealth of the 1% just hit a record $44 trillion
(www.cnbc.com)
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this post was submitted on 30 Mar 2024
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Ok hear me out. I just want to do quick maths. The world population is according to worldometer just over 8,1 billion people. So 81 million people make up the top 1%. So this article says they have now 44,6 trillion dollars. So $44600000000000/81000000 is equal to $550617.28 per person in the one percent. So that means if you have more than $550 000 in wealth, you are a one percenter.
I am curious if the wealth of the top % as a value has grown or outpaced the rate of inflation and population growth added together.
The article is talking about the US. (Because of course it is).
So, it's only 3.3 million people, so it's $13.5 million each on average.
No, that's not how distributions work.
If Elon Musk walks into a bar, it's a Nazi bar now. Also, if he walks into a bar with 99 other people in it, the average wealth of everyone in the bar is $2 billion. But, that doesn't mean that the typical person in that group has over $2b in wealth.
The top 1% contains Elon Musk plus about 3.3 million other people, but he skews the distribution considerably. That means the bottom of the distribution of the top 1% is around $6m, and it also includes people like Musk and Bezos who bring the average up to $13.5m per person.
Nit: The population of the US is 340 million, not 3.3 million, but your point stands
3.3 million is the number of people in the 1%
3.3 is 1% of 330