15% of SA’s wealth is in the hands of just 3 500 people - study | GroundUp_News
Just 3 500 people – 0.01% of the population – own 15% of total wealth in South Africa, according to a new study. And, there has been no decrease in wealth inequality in the 26 years since democracy.
By contrast, due to their debt, the bottom 50%, or 17.7 million people, have an average negative net wealth of -R16 000. Inequality of wealth, in contrast to inequality of income, became the focus of economists partly as a response to Thomas Piketty’s . This work described how the incomes of the top 1% of people in the world had been growing at a much higher rate than the bottom 99% since the 1980s.pointed out:"Those with a higher starting level of wealth are able to build wealth quicker than those with lower or no wealth to begin with, leading to increasing wealth inequality.
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