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Home / news / Richest 1% on target to own two-thirds of all wealth by 2030

Richest 1% on target to own two-thirds of all wealth by 2030

World leaders urged to act as anger over inequality reaches a ‘tipping point’

Gold bars are displayed at South Africa’s Rand Refinery in Germiston.Gold bars are displayed at South Africa’s Rand Refinery in Germiston. Photograph: Siphiwe Sibeko/Reuters

The world’s richest 1% are on course to control as much as two-thirds of the world’s wealth by 2030, according to a shocking analysis that has lead to a cross-party call for action.

World leaders are being warned that the continued accumulation of wealth at the top will fuel growing distrust and anger over the coming decade unless action is taken to restore the balance.

An alarming projection produced by the House of Commons library suggests that if trends seen since the 2008 financial crash were to continue, then the top 1% will hold 64% of the world’s wealth by 2030. Even taking the financial crash into account, and measuring their assets over a longer period, they would still hold more than half of all wealth.

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