By the Numbers: the growing wealth gap – billionaires and the rest of us
Ottawa – May 2, 2013 – Last year was a banner year for the world’s billionaires. In 2012, the world’s super-rich saw their net worth skyrocket by 16% – at a time when all major wealth indicators (GDP, currency, equity and combined wealth) were down, according to the 2013 World Ultra Wealth Report Outlook.
The latest figures about global wealth clearly demonstrate a tremendous income and wealth gap that exists between the world’s super-rich and the rest of us.
In 1950, top executives earned 24 times the average worker's pay, 122 times in 1990 and 550 times in 2009.
Today, the individual wealth of the world’s super-rich is millions of times greater than their fellow citizens.
Total wealth of the world’s billionaires vs. the median wealth of their fellow citizens:
*All amounts are in US dollars.
North America
Canada’s richest person is David Thomson with a net worth of $20.3 billion, which means he has 248,744 times more individual wealth than his fellow Canadians, whose median wealth is $81,610 per adult.
Mexico’s richest person is Carlos Slim Helú with a net worth of $73.0 billion, which means he has 5,585,310 times more individual wealth than his fellow Mexicans, whose median wealth is $13,070 per adult.
The richest family in the United States are the Walton’s – who control Walmart – with a net worth of $100.0 billion, which means the Waltons have 2,578,249 times more wealth than other Americans, whose median wealth is 38,786 per adult.
South America
Brazil’s richest person is Jorge Paulo Lemann with a net worth of $17.8 billion, which means he has 3,041,695 times more individual wealth than his fellow Brazilians, whose median wealth is $5,852 per adult.
Chile’s richest person is Iris Fontbona & family with a net worth of $17.4 billion, which means she has 1,330,987 times more wealth than her fellow Chileans, whose median wealth is $13,073 per adult.
Europe
France’s richest person is Liliane Bettencourt with a net worth of $30.0 billion, which means she has 369,122 times more individual wealth than her fellow citizens, whose median wealth is $81,274 per adult.
Spain’s richest person is Amancio Ortega with a net worth of $57.0 billion, which means he has 829,778 times more individual wealth than his fellow Spaniards, whose median wealth is $68,693 per adult.
Africa
Nigeria’s richest person is Aliko Dangote with a net worth of $16.1 billion, which means he has 42,705,570 times more individual wealth than his fellow citizens in Nigeria, whose median wealth is $377 per adult.
Asia
India’s richest person is Lakshmi Mittal with a net worth of $16.5 billion, which means he has 17,590,618 times more individual wealth than his fellow Indians, whose median wealth is $938 per adult.
Russia’s richest person is Alisher Usmanov with a net worth of $17.6 billion, which means he has 13,891,081 times more individual wealth than his fellow Russians, whose median wealth is $1,267 per adult.
Australia
Australia’s richest person is Georgina Rinehart with a net worth of $17 billion, which means she has 87,785 times more individual wealth than her fellow Australians, whose median household net worth is $193,653
Source: Forbes, 2013 World Ultra Wealth Report Outlook