'World's richest 2pc own half of global wealth'

By Afp, Helsinki
5 December 2006, 18:00 PM
The world's richest two percent of adults own more than half of global household wealth, while half the world's population own only one percent, a UN report published yesterday showed.

"The study finds wealth to be more unequally distributed than income across countries," Anthony Shorrocks, director of the Helsinki-based World Institute for Development Economics Research of the United Nations University (UNU-WIDER) that published the report, said at a press conference.

The report, entitled "The World Distribution of Household Wealth", found that assets of 2,200 dollars (1,650 euros) or more placed a household in the top half of world wealth distribution in 2000.