With the world’s richest people in place, it’s easy to get ahead.
But it’s harder to find that perfect balance of power.
The new Forbes Money 100 list, which has been released this week, reveals that the gap between the super-rich and the rest of us is growing, as the world becomes more unequal.
The list shows the world is on the verge of a financial crisis, as global inequality continues to escalate.
The average wealth of the world economy now stands at $3.9 trillion, with an average of $13,000 per household.
The gap between top 10 per cent of the population and the world as a whole is still the biggest in the world, and is more than 10 times larger than in 2015, according to the report.
The median wealth of a family in the US is $3,000, compared to $8,000 in Europe.
The UK, with a median of $1,000 a year, has the lowest wealth gap of any country.
But the billionaires of the future have the same average wealth as the average family in 2021, meaning it’s hard to find a place for them.
The super-billionaire in 2021 has $7.7 trillion, while the median wealth in 2021 for a family of four is $18,000.
The richest 10 per year in the UK have more wealth than the bottom 50 per cent combined.
The poorest 10 per day have a median net worth of $7,000 compared to the median of the top 50 per day in 2021.
The richest 1 per cent have a net worth equal to the top 1 per year.
In terms of net worth, the US, Germany and the UK are the top five, followed by Canada, Brazil and Japan.
The Forbes Money 50 list is made up of all of the billionaires, as well as their families, and includes figures from US billionaires like Apple CEO Tim Cook, Microsoft’s Bill Gates, Google co-founder Sergey Brin, Amazon’s Jeff Bezos, Microsoft co-founders Bill Gates and Steve Ballmer, and others.
The wealth gap is particularly worrying for those who are on low incomes, as it means those with the highest net worths may struggle to get by, while those on lower incomes may be left out of the superwealthy club.
“Wealth is one of the most important and difficult assets to control, but also one of our most dangerous,” Forbes senior fellow and founder Mark Cuban wrote in the company’s 2017 report, “The 50-Year Countdown to the Super Rich.”
“There are two main ways to make the most of your wealth, but both require a degree of discipline and discipline is not always a priority,” he continued.
“For instance, if you’re rich but poor, you can’t always keep up with the pace of innovation, and it is easy to slip into the ‘too little, too late’ mindset.
You can, however, change the way you think about things.”
The wealth inequality gap is a growing problem, with the median networth of the wealthiest families of 2021 rising from $11,000 to $14,000 as of the end of 2021, according the report’s data.
The wealth gap for the poorest families of 2020 stood at $5,000 while the wealth gap in 2021 stood at about $12,000 and for the middle 20 per cent it stood at roughly $3 for a household of four.
The wealthiest 1 per day of a household in the United States have an average net worth greater than $20 million, while they have an estimated wealth of about $60 billion, according with Forbes.