The U.S. RANKS 4TH IN INCOME INEQUALITY
Trailing Russia; the Ukraine, and Lebanon - The U.S. RANKS 4TH IN INCOME INEQUALITY
There is massive income inequality in the in the U.S. and in the world, and everyone from political candidates to billionaires is talking about it. A recent global wealth ranking by Bloomberg Businessweek shines the light on ranking in the U.S. giving everyone in the world a “wealth number,” from
-2 (the world’s poorest)
11 (the world’s wealthiest).
Only two (2) people get an 11: Jeff Bezos and Bill Gates scored 11 ranking meaning they have %100 billion or more.
150 people have a wealth number of 10: Billionaires like Elon Musk scored a 10 ranking meaning their net worth falls between $10 and $100 billion - these individuals can afford to buy a sports team in a major market.
Compared to those very small numbers of very rich people, 1.3 billion people who have a wealth number of 4, meaning their net worth falls between $10,000 and $100,000. These individuals are generally, in a “median American family headed by someone who has no college education,” the chart says, and can only afford a new car.
At the bottom, 1.5 billion adults reside in the brackets -2 through 2, meaning they have a net worth of less than $1,000, including people with a negative net worth - this population can afford very little.
You can find your own net worth number on the chart here
According to an Oxfam report; in 2018, the world’s wealthiest 26 individuals had the same amount of wealth as the poorest half of the population.
In 2018, wealth of the world’s billionaires increased by $900 billion ($2.5 billion per day),
while the wealth of the poorest half of the population (3.8 billion people) fell by 11%.
Clifford, C. (2019). This chart ranks everyone (even you) by their wealth, and it’s a snapshot of inequality. CNBC News.