The share of South Africa’s wealth owned by the top 1% of earners has doubled since the late 1970s.
The country’s richest people now own almost 20% of wealth‚ according to an updated profile by the World Wealth and Income Database.
The tool uses survey data‚ fiscal data and wealth rankings to illustrate the widening gap between the rich and the poor in large economies.
It was created by economists Thomas Piketty and Emmanuel Saez‚ and researchers from 70 countries‚ and shows that the wealth gap has grown in nearly every country in the last 60 years.
However‚ South Africa has one of the worst wealth distribution rates.
The database confirms the story behind the county’s Gini coefficient‚ which measures income equality. It ranges between 0.660 and 0.696‚ when a value of 0 represents a perfectly equal society and a score of 1 is ultimate inequality.
Graphs that show how South Africa's rich are still getting richer
The share of South Africa’s wealth owned by the top 1% of earners has doubled since the late 1970s.
The country’s richest people now own almost 20% of wealth‚ according to an updated profile by the World Wealth and Income Database.
The tool uses survey data‚ fiscal data and wealth rankings to illustrate the widening gap between the rich and the poor in large economies.
It was created by economists Thomas Piketty and Emmanuel Saez‚ and researchers from 70 countries‚ and shows that the wealth gap has grown in nearly every country in the last 60 years.
However‚ South Africa has one of the worst wealth distribution rates.
The database confirms the story behind the county’s Gini coefficient‚ which measures income equality. It ranges between 0.660 and 0.696‚ when a value of 0 represents a perfectly equal society and a score of 1 is ultimate inequality.