Russia comes out worst in wealth equality study
(Business New Europe – bne.eu – Henry Kirby in London – July 2, 2015)
Over four-fifths of Russia’s national wealth is held by just one-tenth of the overall population, according to the 2014 Global Wealth Databook, produced by financial services group Credit Suisse.
The 84.8% of wealth held by the top decile of Russia’s population was the highest proportion measured in any of the countries that were analysed. The second highest proportion was recorded by Turkey at 77.7%.
Only twice since 2000 has another country’s top decile held more of its national wealth than Russia’s – in 2000 and 2001, when The Philippines’ respective scores of 79% and 77.4% were higher than Russia’s scores of 77.1% and 76.9% in the same period.
Russia topped the inequality tables when measuring the wealth of the top 5% and 1% too, with scores of 79.1% and 66.2%, respectively.