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Millionaires will soon control half of world's wealth as income inequality skyrockets
Boston Consulting Group's annual Global Wealth report says that in 2014 there were 17 million millionaires in the world, up from 15 million in 2013, and they now account for 41% the world's $164 trillion in private wealth, which is expected to rise to 46% share by 2019.
“The wealthier are getting more and more wealthy,” BCG partner and managing director Anna Zakrzewski told MSNBC. “They have a much larger share of their wealth invested in equity markets and last year was a good year for market performance.”
In another indication that those gaining wealth are making money from money itself, the report says 73% of the world's gains in private wealth in 2014 came from gains on existing assets rather than the creation of new wealth or business.
The report defines wealth as fairly liquid assets like cash, stocks, securities, bonds or pensions, and excludes real estate or business ownership …. http://www.sott.net
Source: http://luismmx.blogspot.com/2015/06/millionaires-will-soon-control-half-of.html
