The numbers don't lie: our world is being pulled apart by an ever-widening chasm between the ultra-rich and everyone else, a staggering reality where a single percentage of the population now captures more than half of all wealth in some of the planet's largest economies.
Key Takeaways
- In 2022, the top 1% of income earners in the United States captured 20.1% of all pre-tax national income, up from 10% in 1980
- The global income Gini coefficient stood at 0.67 in 2021, reflecting extreme disparities between rich and poor nations and within countries
- In South Africa, the top 10% of earners hold 65% of national income as of 2022, the highest in the world
- In 2022, US wealth Gini coefficient reached 0.85, with top 1% holding 32% of total wealth
- Globally, the richest 1% own 45.6% of world wealth in 2023, per Credit Suisse report
- In Brazil, top 10% control 85% of wealth as of 2022
- In 2023, women earn 82 cents for every dollar men earn in the US, with gap widening for mothers
- Globally, female labor force participation is 47% vs 72% for men in 2022
- In India, women's workforce participation fell to 23% in 2022, lowest among major economies
- In the US, Black women earn 64 cents per white male dollar in 2023
- In Brazil, Black Brazilians earn 57% of white incomes in 2022
- UK's Black population has unemployment rate 2x white average at 8.5% in 2023
- Global Gini coefficient for between-country inequality fell from 0.70 in 2000 to 0.62 in 2022
- Sub-Saharan Africa's Gini average is 0.44 in 2022, highest regional
- Latin America's regional income inequality Gini is 0.48 in 2021, down from 0.54 in 2000
Extreme inequality is rising within nations and between the rich and poor globally.
Gender Inequality
- In 2023, women earn 82 cents for every dollar men earn in the US, with gap widening for mothers
- Globally, female labor force participation is 47% vs 72% for men in 2022
- In India, women's workforce participation fell to 23% in 2022, lowest among major economies
- Saudi Arabia's gender pay gap is 25% in 2023, despite reforms
- In the EU, women hold only 17% of board seats in largest companies in 2023
- US women with college degrees earn 26% less than men over lifetime
- Globally, 2.7 billion women face legal barriers to equal work in 2023
- In Japan, gender pay gap is 22% in 2022, highest in OECD
- Brazil's female unemployment rate is 12.5% vs 9.8% for men in 2022
- In sub-Saharan Africa, girls complete 4 fewer years of schooling than boys on average
- UK's gender pension gap sees women receive 35% less in retirement
- In South Korea, women earn 31% less than men in 2023
- Globally, unpaid care work by women is 3.26 times more than men, 15% of GDP
- In Nigeria, 70% of women in agriculture earn below poverty line vs 50% men
- France's motherhood penalty reduces wages by 15% post-childbirth
- In Mexico, 40% of women report workplace harassment in 2022 survey
- Australia's Indigenous women face 50% higher incarceration rates than non-Indigenous men
- In Egypt, female literacy rate is 65% vs 82% for males in 2022
- Canada's gender wage gap persists at 22% for full-time workers in 2023
- In Indonesia, women own only 32% of formal businesses despite 50% population
- Italy's women in STEM fields are 17% vs 55% men in 2022
Gender Inequality Interpretation
The world’s economy is running on a rigged system where the universal operating principle seems to be “add a woman, subtract her pay, opportunity, and dignity.”
Global Inequality
- Global Gini coefficient for between-country inequality fell from 0.70 in 2000 to 0.62 in 2022
- Sub-Saharan Africa's Gini average is 0.44 in 2022, highest regional
- Latin America's regional income inequality Gini is 0.48 in 2021, down from 0.54 in 2000
- East Asia's Gini fell to 0.38 in 2022 due to China's growth
- Middle East and North Africa's Gini is 0.40 in 2022, masked by oil wealth
- Europe's intra-country Gini average 0.30 vs 0.45 developing world in 2022
- South Asia's Gini rose to 0.42 in 2022, driven by India
- In low-income countries, bottom 50% hold 9% of income vs 38% in high-income, 2022
- Global top 10% income share stable at 52% since 2000, per WID 2023
- Central Asia Gini averages 0.35 in 2022, lowest globally
- Pacific islands have Gini 0.39, but high between-island variation
- Global wealth Gini is 0.89 in 2023, up from 0.87 in 2000
- Least developed countries' average Gini 0.43 in 2022
- OECD countries' Gini average 0.31 post-tax in 2021
- Global South's top 10% hold 80% of regional wealth in 2022
- North America's Gini 0.41, highest among developed regions, 2022
- In 2022, 10% of global population in richest countries hold 76% world income
- Southeast Asia Gini averages 0.39, but rising urbanization gaps
- Arab world's Gini 0.38, but youth unemployment exacerbates
- Global interpersonal inequality accounts for 2/3 of total inequality in 2022
- Caribbean Gini average 0.45, highest small region inequality
Global Inequality Interpretation
The world is getting more equal between nations—so feel good about the global picture, but not too good, because within those nations, we're still staring at a terrifyingly familiar pyramid of haves and have-nots.
Income Inequality
- In 2022, the top 1% of income earners in the United States captured 20.1% of all pre-tax national income, up from 10% in 1980
- The global income Gini coefficient stood at 0.67 in 2021, reflecting extreme disparities between rich and poor nations and within countries
- In South Africa, the top 10% of earners hold 65% of national income as of 2022, the highest in the world
- India's income Gini index rose to 0.56 in 2021 from 0.50 in 2011, driven by urban-rural divides
- In Brazil, the income share of the top 1% reached 28.4% in 2022, despite progressive taxation efforts
- The US after-tax income Gini coefficient was 0.41 in 2021, higher than the OECD average of 0.31
- China's top 1% income share increased from 6.5% in 2000 to 14.3% in 2022
- In the UK, the top 10% captured 34% of pre-tax income in 2021
- Germany's income Gini coefficient was 0.29 in 2021, lower than EU average due to strong social transfers
- Russia's top 1% income share surged to 22.2% in 2022 amid post-sanctions wealth concentration
- Mexico's income Gini was 0.45 in 2022, with top 10% holding 52% of income
- France's top 1% income share stabilized at 12.5% in 2022 after tax reforms
- In Nigeria, the top 1% captures 33% of national income in 2021 estimates
- Canada's income Gini rose to 0.33 in 2021, with top 1% at 14.1%
- Indonesia's top 10% income share was 48% in 2022
- Australia's pre-tax income Gini was 0.44 in 2021
- In Sweden, despite welfare state, top 1% income share hit 9.8% in 2022
- Turkey's income Gini climbed to 0.44 in 2021 amid inflation
- Japan's top 1% income share remains low at 7.5% in 2022
- Argentina's top 10% held 46% of income in 2022 despite economic crisis
- In the Euro Area, income Gini averaged 0.30 in 2021
- Egypt's income inequality saw top 1% at 25% in 2021
- Spain's post-tax Gini was 0.32 in 2021
- In the Philippines, top 1% income share reached 20% in 2022
- Italy's income Gini stood at 0.33 in 2021
- South Korea's top 10% captured 41% of income in 2022
- In Colombia, Gini coefficient was 0.52 in 2021, highest in Latin America
- Netherlands' top 1% income share was 10.2% in 2022
Income Inequality Interpretation
The global economy is increasingly a casino where the house wins every hand, but the house is actually a very small, very rich club whose membership fees have skyrocketed since 1980.
Racial/Ethnic Inequality
- In the US, Black women earn 64 cents per white male dollar in 2023
- In Brazil, Black Brazilians earn 57% of white incomes in 2022
- UK's Black population has unemployment rate 2x white average at 8.5% in 2023
- In South Africa, white households earn 6x more than Black households in 2022
- US Native Americans have poverty rate of 25% vs 10% national average in 2022
- In Canada, Indigenous people 5% of population but 30% of homeless in 2023
- Australia's Aboriginals have life expectancy 8 years lower than non-Indigenous
- In France, immigrants from Africa have 15% unemployment vs 8% natives in 2022
- India's Dalits face 21% poverty rate vs 10% upper castes in 2021
- In the US, Hispanic high school dropout rate is 7.8% vs 4.1% white in 2022
- Brazil's Indigenous poverty rate is 47% vs 25% national in 2022
- UK's Pakistani-British have 14% poverty rate vs 17% white average wait no 2x higher child poverty
- In New Zealand, Maori unemployment is 9.2% vs 3.9% European in 2023
- Germany's Turkish-origin youth unemployment 20% vs 6% natives in 2022
- In Sweden, non-EU immigrants have 18% unemployment vs 5% natives
- US Asian Americans have highest income but 20% poverty among Southeast Asians
- South Africa's Coloured population earns 40% less than whites in 2022
- In Mexico, Indigenous people have 70% poverty rate vs 42% national
- Canada's Black Canadians face 11.5% unemployment vs 5.5% overall in 2023
- In the US, Black homeownership rate is 44% vs 74% white in 2022
Racial/Ethnic Inequality Interpretation
It seems the universal languages of inequality are fluently spoken across the globe, translating to the same grim story of marginalized groups being systematically shortchanged on paychecks, life chances, and even their own front doors.
Wealth Inequality
- In 2022, US wealth Gini coefficient reached 0.85, with top 1% holding 32% of total wealth
- Globally, the richest 1% own 45.6% of world wealth in 2023, per Credit Suisse report
- In Brazil, top 10% control 85% of wealth as of 2022
- China's wealth Gini hit 0.70 in 2022, with billionaires' wealth surging
- US households in top 1% hold average wealth of $13.6 million in 2022
- South Africa's wealth Gini is 0.90, highest globally, top 1% own 68%
- In India, top 10% possess 77% of national wealth in 2023
- Europe's wealth Gini averages 0.72 in 2022, with France at 0.70
- Russia's top 1% control 58% of wealth post-2022
- Mexico's wealth share of top 10% is 78% in 2022
- UK top 1% wealth share is 23% in 2022, average £3.7m per household
- Australia's wealth Gini is 0.65, top 10% hold 60%
- In Canada, top 1% own 25.6% of wealth in 2022
- Indonesia's top 10% control 82% of wealth in 2023
- France's wealth Gini fell to 0.69 in 2022 due to inheritance taxes
- Nigeria's wealth inequality shows top 1% at 55% share in 2022 estimates
- Japan's wealth Gini is 0.60, top 10% hold 54%
- Germany's top 1% wealth share is 19% in 2022
- Turkey's wealth Gini rose to 0.82 in 2022
- Sweden's top 10% own 72% of wealth despite equality reputation
- Argentina's top 1% hold 40% of wealth in 2022
- Spain's wealth Gini is 0.70, top 10% at 60%
- South Korea's wealth Gini reached 0.61 in 2022
- Italy's top 1% wealth share is 22% in 2022
- Netherlands' wealth Gini is 0.68
- Colombia's top 10% control 85% of wealth in 2022
Wealth Inequality Interpretation
It seems the global economy is operating on a 'trickle-up' theory, where the vast majority of wealth is pooling at the summit while the base camp is left scrounging for drips.
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