Who’s got all the money?

It will probably come as no surprise that the vast majority of wealth out there isn’t shared out uniformly.
The percentages may shock you.

Oxfam’s findings show that the current top 85 wealthiest individuals have the combined financial worth of around $1.7 trillion, which also happens to be the combined financial worth of 3.5 billion people in the bottom half of the total 7 billion people currently alive.
$1.7 trillion is worth about 0.7 percent of the total wealth in the world.

That’s right 85 people have the same wealth as the entire poorest half of the planet.

Who’s got all the money

The distribution of world wealth goes something like this:

  • 32million people (o.7%) have over $1m
  • 361 million have between $100,000 and $1m
  • 4273 million have less than $100,000

The latest figures show that hundreds of millions of wage earners in developing economies earn below US$2 per day.

Now I’m not repeating these figures to depress you (Not that they will if you’re one of the 85!)

A recent study in the US found that 67% were dissatisfied with their income.
Why is this? We’re always being told there’s enough for everyone, so why is it that such a small minority control so much of it?
I think its a combination of good ideas, hard work and some luck.
Once people accumulate a certain amount of wealth, it can quickly snowball into a bigger and bigger pile.

Just how much money is out there?

There’s quite a few arguments about how this should be measured, however, if we stick to Oxfam’s figures, the world economy is worth about $240 Trillion – most of this doesn’t physically exist as ‘money’, only as figures on balance sheets and bank statements. In truth, no one can really give an accurate measurement.

So there’s plenty to go at – why aren’t we getting our share?

Many people look around and think “There’s nothing left, it’s all gone”, but that’s just not the case.
They see businesses doing well in particular niches and believe there’s no room for competitors – but there is.

If you were to add up all the people who’d signed up to newsletters and products offered by the top internet marketers, you’d find it was a tiny percentage off the world’s online audience. The vast majority are still potential customers.

Wealth is out there in abundance and its there for the taking

There’s millions of people earning millions of dollars across the globe, and do you know what? They’ve barely made a dent in the global pot of money. It’s time to dive in and get your cut.
Forget looking around and feeling jealous just because someone’s driving a Rolls Royce or living in a massive house – you can have it all if you want.
Believe in what you want and make a plan to go and get it.
I, for one, am not prepared to sit on the side line forever watching the world fly by.

The vast majority of people are quite happy watching TV and winging about their lot…
For everyone that has a real desire to try and make it into the ‘rich list’, millions of others just can’t be bothered, which makes your chances of success all the more probable.

A final, more positive thought on world poverty:

Bill and Melinda Gates predict that by 2035, there will be almost no poor countries left in the world. Almost all countries will be what we now call lower-middle income or richer. Countries will learn from their most productive neighbors and benefit from innovations like new vaccines, better seeds, and the digital revolution. Their labor forces, buoyed by expanded education, will attract new investments.

Let’s hope they’re right.

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