Why You're Filthy Stinking Rich

by Dec 6, 2006

moneypiles.jpgJust in case you were wondering whether or not you live in “abundance” (Phil. 4:11-12), this article in the Financial Times will help.

By my calculations, it boils down to this: If you own a 1991 Geo Metro, you’re wealthier than 50% of the adults in the world. If you own a condo in Honolulu, you’re wealthier than 99% of the world. Here’s what the article says:

Personal wealth is distributed so unevenly across the world that the richest two per cent of adults own more than 50 per cent of the world’s assets while the poorest half hold only 1 per cent of wealth. A survey released on Tuesday shows that middle-income countries with high growth rates still have a long way to go before they have a hope of catching up with the levels of prosperity of the richest.

Adults with more than $2,200 of assets were in the top half of the global wealth league table, while those with more than $61,000 were in the top 10 per cent, according to the data from the World Institute fpr Development Economics Research of the United Nations University (UNU-Wider).

To belong to the top 1 per cent of the world’s wealthiest adults you would need more than $500,000, something that 37m adults have achieved.