Toronto – May 9, 2014 – Over the past decade, there has been a significant increase of wealth in this country. However, the vast majority of the new wealth generated by the economy has increasingly gone to a tiny proportion of the population – the Wealthy 86. They are the richest 86 people in the country, and they control a third of all the wealth in Canada.
In 2012, the 86 wealthiest individuals and families in Canada held the same amount of wealth as the poorest 11.4 million Canadians combined.
The Wealthy 86 represents only 0.002 per cent of Canadians, yet holds the same amount of wealth as the bottom 34 per cent of the population.
The richest 20 per cent of families in Canada take almost 50 per cent of the country’s total income.
The richest 20 per cent of families in Canada control almost 70 per cent of all wealth.
For every new dollar of real wealth generated in Canada since 1999, 66 cent has gone to the wealthiest 20 per cent of families.
For every new dollar of real wealth generated in Canada since 1999, 23 cents has gone to the middle class – 20 per cent of the population.
For every new dollar of real wealth generated in Canada since 1999, the bottom 60 per cent of families received only 10 cents.
Combined assets of the 86 wealthiest individuals and families in Canada.
Combined assets of the total population of New Brunswick. The Wealthy 86 have enough money to buy everything in the private hands of everyone in New Brunswick – with $37 billion to spare.
SOURCE: Canadian Centre for Policy Alternatives, Outrageous Fortune – Documenting Canada’s Wealth Gap