Ranked: Where Wealth Is Most Concentrated

[The Notorious SLAV]

Ranked: Where Wealth Is Most Concentrated

Which countries have the most concentrated wealth? See where the U.S. ranks and how household wealth compares across major economies.

www.visualcapitalist.com

 

[Cryo]

Fucking hate Brazil

 

[DoomThreeKoala]

Fascinating.

 

[St3v3Cel]

Sweden's wealth being more concentrated than South Korea, amazing.

 

[St3v3Cel]

Sweden's wealth being more concentrated than South Korea, amazing.

I thought that ~100 - 120 families in South Korea held ~80% of South Korea's GDP. I wonder how they calculated this for South Korea.

 

[St3v3Cel]

I thought that ~100 - 120 families in South Korea held ~80% of South Korea's GDP. I wonder how they calculated this for South Korea.

Nevermind, I misunderstood the GINI index. South Korea's population seems to own many properties (probably due to decent wages from the Chaebol families), which would explain their higher household wealth:

[Reporter’s notebook] Why S. Korea needs a government organization to monitor real estate transactions

Korea’s proportion of real estate as non-residential investments much higher than in other OECD countries

english.hani.co.kr

A small portion of the countries population might account for the majority of South Korea's GDP, but the household wealth is a different story. I could be completely wrong though, I just did some quick searches trying to figure this out.

 

[ItsOverMan]

View attachment 1769728

Ranked: Where Wealth Is Most Concentrated

Which countries have the most concentrated wealth? See where the U.S. ranks and how household wealth compares across major economies.

www.visualcapitalist.com

I live in America which is apparently "rich" but it feels like the top 1% own 50% of everything. Maybe 90%.

 

[The Notorious SLAV]

A small portion of the countries population might account for the majority of South Korea's GDP, but the household wealth is a different story. I could be completely wrong though, I just did some quick searches trying to figure this out.

I did the same and got the same explanations from Gemini it seems. A couple of Chaebol families control the conglomerates which generate 70%+ of South Korea's GDP, but said GDP doesn't automatically turn into their personal wealth, since it gets redistributed as wages to their employees, profit for companies their employees buy from, taxes, and so on.

 

[St3v3Cel]

I did the same and got the same explanations from Gemini it seems. A couple of Chaebol families control the conglomerates which generate 70%+ of South Korea's GDP, but said GDP doesn't automatically turn into their personal wealth, since it gets redistributed as wages to their employees, profit for companies their employees buy from, taxes, and so on.

Yeah, I have to admit I also ran my query partially through Gemini .

 

[St3v3Cel]

Yeah, I have to admit I also ran my query partially through Gemini .

I can also corroborate wages being piss-poor in Sweden compared to other Western countries. Likewise, home ownership is not through the roof. We have a couple rich families which own most everything here so this article doesn't surprise me. The portion of boomers who do own things decide to live up their money instead of letting their children and grandchildren inherit it too, there was a recent study about that.

 

[The Notorious SLAV]

Sweden's wealth being more concentrated than South Korea, amazing.

I can also corroborate wages being piss-poor in Sweden compared to other Western countries. Likewise, home ownership is not through the roof. We have a couple rich families which own most everything here so this article doesn't surprise me. The portion of boomers who do own things decide to live up their money instead of letting their children and grandchildren inherit it too, there was a recent study about that.

With you guys, it's an interesting situation, since Sweden is usually seen as having a decent income equality, so the high inequality in wealth really just seems to come down to a lot of old money/noble families owning quite a bit of land and other stocks. Also media I guess, I know for a fact that when the EU started doing reports on "media freedom" and including media ownership concentration (how small of a group a country's media ecosystem is controlled by) as a criterion, Sweden was one of the countries criticized a year before we (Slovakia) were, even though by that time we were already one of the EU's punching bags along with Hungary.

 

[St3v3Cel]

With you guys, it's an interesting situation, since Sweden is usually seen as having a decent income equality,

Decent income equality sure, but the wages are still lower than other Western countries. Low enough that the economic migrants of old like the Poles are now moving back, since they can earn more money and have a better life back home.

so the high inequality in wealth really just seems to come down to a lot of old money/noble families owning quite a bit of land and other stocks.

Yeah, a lot of families with old money, really old money.

Also media I guess, I know for a fact that when the EU started doing reports on "media freedom" and including media ownership concentration (how small of a group a country's media ecosystem is controlled by) as a criterion, Sweden was one of the countries criticized a year before we (Slovakia) were, even though by that time we were already one of the EU's punching bags along with Hungary.

Ah, the Bonnier scumbags. For sure.