Imagine a world so unbalanced that just 26 people hold more wealth than the poorest half of humanity combined, a staggering reality that defines our era of extreme income inequality.
Key Takeaways
- The global Gini coefficient for pre-tax income inequality reached 0.72 in 2022, indicating extreme disparity where the top 10% hold 52% of income while bottom 50% hold 8.5%
- In 2021, worldwide wealth inequality saw the richest 1% owning 45.8% of global net worth, up from 42.5% in 2010, per Credit Suisse Global Wealth Report
- Globally, 26 billionaires held more wealth than the poorest 3.8 billion people combined in 2023, according to Oxfam's report on inequality
- US Gini coefficient for household income after taxes and transfers was 0.39 in 2021, Census Bureau data
- In the US, top 1% income share reached 20.2% in 2020, up from 10% in 1980, World Inequality Database
- US wealth inequality: top 10% hold 69% of total wealth in 2022, Federal Reserve SCF
- In EU-27, Gini coefficient for equivalised disposable income was 29.6 in 2021, Eurostat
- Top 10% income share in France was 32.5% in 2021, WID
- UK Gini for income after taxes/transfers rose to 35.6 in 2021/22, ONS
- China's Gini coefficient peaked at 0.49 in 2008 but fell to 0.37 in 2021, NBS data
- India top 10% income share 57.1% in 2022, highest in Asia, WID
- Japan Gini for disposable income 33.4 in 2021, lowest among large Asian economies, Statistics Bureau Japan
- World Gini coefficient declined from 68.7 in 2003 to 64.9 in 2013 due to Asia growth, but stalled since, World Bank PovcalNet 2020 update
- US top 1% income share rose from 10% in 1980 to 19% in 2020, driven by tax cuts, Piketty/Saez 2022
- Global top 10% income share stable at 52% 2000-2020, but within-country rose, WID World Inequality Report 2022
Income inequality shows extreme global wealth concentration at the very top.
Asian Inequality
1China's Gini coefficient peaked at 0.49 in 2008 but fell to 0.37 in 2021, NBS data
Verified2India top 10% income share 57.1% in 2022, highest in Asia, WID
Verified3Japan Gini for disposable income 33.4 in 2021, lowest among large Asian economies, Statistics Bureau Japan
Verified4Indonesia Gini 0.38 in 2022, BPS data
Directional5South Korea top 1% income share 15.4% in 2021, up from 10% in 2000, WID
Single source6Philippines Gini 0.42 in 2021, highest in SE Asia, PSA
Verified7Thailand Gini declined to 35.4 in 2021 from 43 in 2000, NSO
Verified8Vietnam Gini 35.7 in 2020, GSO
Verified9Bangladesh top 10% income share 40% in 2022, BBS/WID
Directional10Malaysia Gini 0.41 in 2022, DOSM
Single source11Pakistan Gini estimated 0.33 in 2018, latest PBS data
Verified12Singapore wealth Gini after imputation 0.72 in 2019, highest globally, DOS
Verified13Top 1% in India captured 22% of national income in 2022, WID
Verified14Iran's Gini 0.40 in 2019, SCI data
Directional15Myanmar Gini 0.43 pre-2021 coup, MPI
Single source16Sri Lanka Gini 0.39 in 2019, DCS
Verified17Top 10% in Japan hold 24% income in 2021, Cabinet Office
Verified18Nepal Gini 0.32 in 2019, CBS
Verified19Top 1% South Korea wealth share 25% in 2021, BOK
Directional20Cambodia Gini 0.36 in 2019, NIS
Single source21Laos Gini 0.36 in 2018, LSIS
Verified22Mongolia Gini 0.32 in 2021, NSO
VerifiedAsian Inequality Interpretation
Asia's economic storybook is a tale of dizzying contrasts, where India's top tier feasts at a banquet growing far faster than the dining hall, while Japan meticulously ensures everyone gets a precisely measured slice of a pie that itself isn't getting much bigger.
European Inequality
1In EU-27, Gini coefficient for equivalised disposable income was 29.6 in 2021, Eurostat
Verified2Top 10% income share in France was 32.5% in 2021, WID
Verified3UK Gini for income after taxes/transfers rose to 35.6 in 2021/22, ONS
Verified4Germany S80/S20 ratio was 5.2 in 2021, Destatis/Eurostat
Directional5Italy's Gini coefficient hit 33.2 in 2022, highest in Western Europe, ISTAT/Eurostat
Single source6In Spain, top 1% income share 12.5% in 2020, up from 9% in 2000, WID
Verified7Sweden's post-tax Gini was 27.6 in 2021, lowest in EU but rising, Statistics Sweden/Eurostat
Verified8EU top 20% income 5.3 times bottom 20% in 2021, Eurostat
Verified9Netherlands Gini 26.3 in 2021, among lowest, but wealth Gini higher at 72%, CBS/Eurostat
Directional10Poland Gini fell to 27.0 in 2021 from 32 in 2008, GUS/Eurostat
Single source11Top 10% wealth share in UK 57% in 2018-2020, ONS Wealth Survey
Verified12In Greece, Gini rose to 32.3 in 2022 post-crisis, ELSTAT/Eurostat
Verified13Austria's S80/S20 4.9 in 2021, Statistik Austria
Verified14Belgium top 1% income share 11.8% in 2021, WID
Directional15EU regional inequality: Gini within countries averages 0.30, but between regions higher, ESPON
Single source16Finland Gini 25.5 in 2021, Statistics Finland
Verified17Portugal Gini 32.1 in 2021, up 2 points since 2014, INE/Eurostat
Verified18Denmark's post-tax Gini 26.3 in 2021, lowest in EU, DST
Verified19Ireland Gini 29.2 in 2021, driven by housing, CSO/Eurostat
Directional20Top 10% in Switzerland income share 35% in 2021, highest in Europe, FSO/WID
Single source21Norway wealth Gini 80 in 2020, SSB
Verified22Czechia Gini 24.8 in 2021, CZSO
Verified23Hungary Gini 28.1 in 2021, KSH
Verified24EU-15 Gini averaged 29.5 in 2021 vs EU-13 29.0, converging, Eurostat
DirectionalEuropean Inequality Interpretation
Across Europe, the richest are pulling away so decisively that the Scandinavian model is starting to look less like a beacon of equality and more like the continent's last, best bargain.
Global Inequality
1The global Gini coefficient for pre-tax income inequality reached 0.72 in 2022, indicating extreme disparity where the top 10% hold 52% of income while bottom 50% hold 8.5%
Verified2In 2021, worldwide wealth inequality saw the richest 1% owning 45.8% of global net worth, up from 42.5% in 2010, per Credit Suisse Global Wealth Report
Verified3Globally, 26 billionaires held more wealth than the poorest 3.8 billion people combined in 2023, according to Oxfam's report on inequality
Verified4The international income Gini coefficient between countries was 0.65 in 2019, reflecting high cross-border inequality, World Bank data
Directional5In 2020, the top 10% of global population captured 52% of global income growth since 1980, per World Inequality Lab
Single source6Global labor income inequality Gini fell from 0.68 in 1980 to 0.62 in 2020 but remains high, ILO and WID analysis
Verified7By 2022, 1% of the world's population controlled more than 45% of global wealth, UBS Global Wealth Report
Verified8The global Palma ratio (top 10% income share over bottom 40%) averaged 2.1 in 2021 across countries, UNU-WIDER
Verified9In 2019, 71% of global wealth was held by 10% of adults, per Credit Suisse
Directional10Global top 1% income share rose from 10% in 1980 to 20% in 2022, World Inequality Report
Single source11Bottom 50% global income share stagnated at 9% from 2000-2020, WID data
Verified12Global wealth Gini coefficient was 0.89 in 2022, highest on record, UBS report
Verified13In 2021, 2,755 billionaires held $13.1 trillion, more than 4.6 billion people, Oxfam
Verified14Global interpersonal income inequality Gini at 0.63 in 2018, PovcalNet World Bank
Directional15Top 0.1% captured 11% of global income in 2022, up from 7% in 1980, WID
Single source16Global middle 40% income share declined to 44% in 2020 from 48% in 1990, World Bank
Verified17In 2023, 85 billionaires had more wealth than 3.5 billion poorest, Oxfam
Verified18Global income share of top 10% averaged 55% in 2021, WID
Verified19Wealth of top 1% grew 34% since 2020 pandemic, while bottom 50% grew 0.7%, Oxfam 2023
Directional20Global Gini for disposable income was 0.58 in 2019 across 80 countries, OECD
Single source21Top 10% own 76% of global wealth in 2022, Credit Suisse
Verified22Global bottom 50% wealth share is just 2% in 2023, UBS
Verified23In 2020, global top 1% income share hit 19%, World Inequality Lab
Verified24Global Palma ratio reached 2.5 in 2022 for many regions, UN data
Directional2582% of all wealth generated in 2017 went to top 1%, Oxfam 2018 report
Single source26Global income inequality between countries fell from Gini 0.70 in 2000 to 0.62 in 2020, World Bank
Verified27Top 0.01% global income share doubled to 4% since 1980, WID 2022
Verified28In 2021, 10 richest men doubled their fortunes while 99% poorer, Oxfam
Verified29Global wealth concentration: top 1% holds 51% of wealth in 2023, UBS
DirectionalGlobal Inequality Interpretation
The global economy has become a meticulously rigged casino where a handful of players hold over half the chips while billions are left betting with the lint in their pockets.
Trends and Policy
1World Gini coefficient declined from 68.7 in 2003 to 64.9 in 2013 due to Asia growth, but stalled since, World Bank PovcalNet 2020 update
Verified2US top 1% income share rose from 10% in 1980 to 19% in 2020, driven by tax cuts, Piketty/Saez 2022
Verified3Global top 10% income share stable at 52% 2000-2020, but within-country rose, WID World Inequality Report 2022
Verified4EU Gini stable at 30 since 2010, but post-COVID rose 1 point, Eurostat 2023
Directional5China's inequality peaked 2008, Gini fell 12 points to 37 by 2021 via redistribution, NBS/WID
Single source6Latin America Gini fell from 52 in 2000 to 46 in 2020, fastest decline globally, CEPAL
Verified7US wealth Gini rose from 0.80 in 1989 to 0.85 in 2023, Fed data
Verified8Global billionaire wealth share doubled from 1% to 3% of global wealth 1995-2023, UBS
Verified9India top 10% share surged from 35% in 1980 to 57% in 2022, WID
Directional10Minimum wage increases reduced US Gini by 1-2 points in states 2013-2019, CBO
Single source11Global interpersonal Gini fell 10% 1990-2015 due to poverty reduction in Asia, World Bank 2019
Verified12UK top 1% income share down from 24% in 1918 to 13% in 1970s, then up to 15% 2020, IFS/WID
Verified13Tax progressivity explains 20% of decline in top 1% shares in rich countries 1910-1980, Piketty 2014 update
Verified14Post-2008, global inequality trends diverged: falling between countries, rising within, IMF WEO 2020
Directional15US wage premium for college grads doubled from 1979-2019, contributing 30% to inequality rise, BLS/EPI
Single source16Automation/tech accounted for 50% of US income polarization 1980-2010, Autor et al. NBER
Verified17Progressive taxation reduced OECD Gini by average 25% in 2020, OECD IDD
Verified18Global projection: without policy, top 1% share to 24% by 2050, WID scenarios
Verified19Brazil Gini fell 15 points 2001-2014 via cash transfers, but rebounded post-2015, IBGE/WID
Directional20COVID-19 increased global Gini by 1-2 points in 2020, World Bank PSP 2022
Single source21Union density decline explains 10-20% of rising inequality in US/EU 1980-2020, OECD
Verified22Offshoring doubled top 10% income shares in advanced Asia 1990-2015, Rodrik analysis
Verified23Universal basic income pilots reduced Gini by 5-10% locally, GiveDirectly/Stockton trials 2019-2023
VerifiedTrends and Policy Interpretation
While the global tide of inequality is slowly receding thanks to Asia's remarkable rise, the lifeboats within our nations are becoming alarmingly exclusive, with the wealthy hoarding the oars as the water climbs higher for everyone else.
US Inequality
1US Gini coefficient for household income after taxes and transfers was 0.39 in 2021, Census Bureau data
Verified2In the US, top 1% income share reached 20.2% in 2020, up from 10% in 1980, World Inequality Database
Verified3US wealth inequality: top 10% hold 69% of total wealth in 2022, Federal Reserve SCF
Verified4Bottom 50% of US households own just 2.6% of total wealth in Q3 2023, Fed data
Directional5US top 0.1% income share was 8.7% in 2019, IRS and Piketty/Saez data
Single source6In 2021, CEO pay at S&P 500 firms was 272 times median worker pay, AFL-CIO
Verified7US Gini for market income hit 0.50 in 2020, CBO analysis
Verified8Top 400 US families' income share grew from 1% in 1980 to 2.5% in 2018, IRS SOI
Verified9US racial wealth gap: White families have 8 times wealth of Black families in 2019 ($188k vs $24k median), Fed SCF
Directional10In 2022, US top 1% captured 22% of all income growth since 1979, EPI analysis
Single source11US 90/10 income ratio was 16.7 in 2021, OECD data
Verified12Billionaire wealth in US surged 88% to $5 trillion since 2020, Forbes
Verified13US Palma ratio reached 2.4 in 2020, top 10% income over bottom 40%, Census
Verified14Top 10% US households hold 93% of stocks' value in 2023, Fed DFAB
Directional15US income share of bottom 20% fell to 2.9% in 2021 from 4.1% in 1979, Census
Single source16In 2018, US top 1% earned average $1.5 million, 39 times bottom 90% average, Piketty/Saez/Zucman
Verified17US Gini rose from 0.35 in 1979 to 0.41 in 2021 post-transfers, CBO
Verified18Corporate stock ownership: top 10% own 89% in 2022, Fed
Verified19US wage inequality: 95/50 ratio increased 20% from 1979-2019, EPI
Directional20Top 0.01% US income share hit 4.5% in 2019, WID
Single source21US median wealth for top 10% is $3.8M vs $38k for bottom 50% in 2022, Fed SCF
Verified22In 2021, US after-tax Gini was 0.38, highest since 1980, Census
Verified23US top 5% income share 23% in 2020, IRS data
Verified24Gender pay gap contributes to US inequality: women earn 82 cents per dollar men in 2022, BLS
Directional25US intergenerational mobility: child in bottom quintile has 7.5% chance to reach top, Chetty data
Single source26Top 1% US wealth share 32% in 2023, Fed
Verified27US 99/1 income ratio exploded to 81 in 2020, Piketty/Saez
VerifiedUS Inequality Interpretation
The statistics paint a portrait of an American economy where the top 1% has won the lottery twice over while the bottom half is stuck trying to buy a ticket with pocket lint.
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