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Richest 2% Own More Than Half the World - Study
stitute for Development Economics Research of the UN University showed.
"Wealth is heavily concentrated in North America, Europe and high-income Asia-Pacific countries. People in these countries collectively hold almost 90 per cent of total world wealth," the survey said. The study is based on figures from 2000.
Institute director Anthony Shorrocks said if the world's population was reduced to a group of 10 people, one person would hold $99 and the remaining nine would share $1.
"The super-rich are even more grotesquely rich than 50 years ago," he said.