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STATISTICS SURVEYS REPORTS


The Occupy movement that started in 2011 focusing on world wealth inequality.

Photo: Bloomberg

The global elite currently control around 50 per cent of wealth world wide, but that is likely to keep going up, the Commons research, commissioned by Labour MP Liam Byrne, stated.

If trends seen since the 2008 financial crash were to continue, the report notes, the mentioned 1 per cent will control 64 per cent of global wealth in only 12 years time.

According to the Guardian, which first reported the statistics, the wealth of the richest 1 per cent “has been growing at an average of 6 per cent a year – much faster than the 3 per cent growth in wealth of the remaining 99 per cent of the world’s population,” since the world financial crisis.

If the trend continues, the 1 per cent will have a total net worth of $US305 trillion ($393 trillion), more than double the $US140 trillion they now control in 2018.

“If we don’t move quickly to rewrite the rules of how our economies work, then we condemn ourselves to a future that remains unequal for good,” Byrne, the report’s commissioner said.

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“That’s morally bad, and economically disastrous, risking a new burst in instability, corruption and poverty.”

Last year, Swiss lender Credit Suisse published a report which found that the world’s richest 1 per cent of families and individuals already hold over half of global wealth, and argued that inequality is still getting worse almost a decade after the worst global recession since the 1930s.

“The bottom half of adults collectively own less than 1 per cent of total wealth, the richest decile (top 10 per cent of adults) owns 88 per cent of global assets, and the top percentile alone accounts for half of total household wealth,” the Credit Suisse report said.

Put another way: “The top 1 per cent own 50.1 per cent of all household wealth in the world.”

This story first appeared in Business Insider. Read it here or follow BusinessInsider Australia on Facebook.

Henry Sapiecha

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ABC 2+2= BLACKBOARD SIGN IMAGE www.acbocallcentre.com

It’s not just one industry that’s been disrupted by digital, a new report shows almost half Australian jobs will be computerised in 20 years.

Back to the drawing board as to get & keep a job in this digital age

Nearly half of the jobs in Australia are at high risk of “digital disruption” in the next 20 years, and our education system is not equipping students with the skills needed to adapt, a new report warns.

PricewaterhouseCoopers chief executive Luke Sayers is calling for a national summit on the issue, saying universities need to start producing far more people literate in science, technology, engineering and mathematics subjects (STEM) to help the workforce adapt to a rapidly changing global economy.

PwC’s report, The STEM Imperative: Future Proofing Australia’s Workforce, warns many of the jobs people work in today “simply won’t exist in the next decade, either entirely, or at the same number”.

The report’s modelling shows the top three occupations in Australia most at risk of being automated in the next two decades are accountants, cashiers and administration workers, affecting more than 600, 000 workers. The least likely are doctors, nurses and teachers.

It says Australia is lagging behind its peers in the Organisation for Economic Cooperation and Development on a number of key STEM indicators.

It says that from 1992 to 2012 there was a 11 per cent fall in year 12 participation for intermediate mathematics, 10 per cent for biology, 5 per cent for chemistry and 7 per cent for physics.

Enrolments and completions in university STEM courses have remained flat over the period 2001 to 2013, while non-STEM courses have grown steadily.

It says about 44 per cent, or 5.1 million jobs, are at high risk of being affected by computerisation over the next 20 years, and 75 per cent of the fastest growing occupations now require STEM skills.

The report shows that shifting just 1 per cent of the workforce into STEM roles would add $57.4 billion to gross domestic product over 20 years.

Some of the jobs most at risk from technology in next 20 years

 
Occupation   No. workers affected
Accounting clerks/bookkeepers 263 348
Checkout operators/cashiers 128 745
General office admin workers 284 171
Sales assistants and salespersons 698 780
Financial/insurance admin workers 128 425

 

Mr Sayers said that while there were already great initiatives to boost students’ interest and skills in STEM, business, government and higher education needed to “channel people’s efforts, energies and investments in a much more meaningful way”.

“We need to come together through some sort of STEM summit and put all the various parties’ thoughts, ideas and perspectives into a melting pot,” he said.

“Within that there will be responsibilities for government – the right policy settings, tax flow-ons, capital related issues – [as well as] things for the education departments and things for business [to do].”

During a panel discussion for the report’s launch on Thursday, Liberal MP Wyatt Roy said Australia needed to encourage young people to become entrepreneurs and develop the right policy environment to keep homegrown start-ups from going overseas.

Labor MP Tim Watts, who is writing a book on the economic implications of the digital revolution with Labor MP Clare O’Neal, said modern societies needed to incorporate “computational thinking” into their educational systems from the earliest stages.

“We shouldn’t think that STEM subjects are a stand-alone silo,” Mr Watts said.

“We need computational thinking to be part of all Australian students’ education. If you look at the United Kingdom, they have incorporated computational thinking into their curriculum, making it mandatory for all students from year 1.”

PwC’s report was prepared with help from the Centre of Policy Studies at Victoria University.

With Nicky Phillips

ooo

Henry Sapiecha

Whose jobs are more dangerous—construction workers, farmers, or pilots? The results may surprise you!

Add this eye-catching infographic to your site to engage your audience. Do workers get paid in proportion to danger? Readers will find out:

  • Which jobs are the most dangerous and why
  • How each occupation ranks
  • Average salaries

dangerous-jobs-infographic www.acbocallcentre.com

THIS IS ONE WEALTHY MAN & MAKING OVER $37M PER DAY

You vs. Warren Buffett

There is no doubt that Warren Buffett is one of the most successful investors in modern times. His fortune and investing prowess seems no less vast when comparing his 2013 income to the average American’s salary of $51,000.

This is because all it takes is about two minutes for him to earn that average salary, working out to about $37 million a day.

At the end of the infographic, some of Mr. Buffett’s investment ideas for retail investors in 2015 are highlighted. He suggests, primarily, to keep it simple by an allocation of 10% in short-term government bonds, and 90% in a low cost S&P 500 index fund. He also believes investors should be fluent in reading financial statements, focused on saving, buying reasonably priced stocks, and humble.

While we disagree with Mr. Buffett’s sentiment on bitcoin, it’s fairly hard to criticize a man who made approximately $500,000 during the writing of this short article

OOO

Henry Sapiecha

THIS IS ONE WEALTHY MAN & MAKING OVER $37M PER DAY

You vs. Warren Buffett

There is no doubt that Warren Buffett is one of the most successful investors in modern times. His fortune and investing prowess seems no less vast when comparing his 2013 income to the average American’s salary of $51,000.

This is because all it takes is about two minutes for him to earn that average salary, working out to about $37 million a day.

At the end of the infographic, some of Mr. Buffett’s investment ideas for retail investors in 2015 are highlighted. He suggests, primarily, to keep it simple by an allocation of 10% in short-term government bonds, and 90% in a low cost S&P 500 index fund. He also believes investors should be fluent in reading financial statements, focused on saving, buying reasonably priced stocks, and humble.

While we disagree with Mr. Buffett’s sentiment on bitcoin, it’s fairly hard to criticize a man who made approximately $500,000 during the writing of this short article

OOO

Henry Sapiecha

 

IS INDIA THE SLAVE CAPITAL OF THE WORLD WITH 30MILLION SLAVES..????Modern slavery takes many forms, including sex trafficking. A prostitute stands on a street corner image www.acbocallcentre.com

No choice: Modern slavery takes many forms, including sex trafficking. A prostitute stands on a street corner. Photo: Peter Morris

London: Almost 36 million people are living as slaves across the globe, with an index on Monday listing Mauritania, Uzbekistan, Haiti, Qatar and India as the nations where modern-day slavery is most prevalent.

The Walk Free Foundation, an Australian-based human rights group, estimated in its inaugural slavery index last year that 29.8 million people were born into servitude, trafficked for sex work, trapped in debt bondage or exploited for forced labour. This year’s figure represents about 0.5 per cent of the world’s estimated population of 7 billion people.

Releasing its second annual index, Walk Free increased its estimate of the number of slaves to 35.8 million, saying this was due to better data collection and slavery being uncovered in areas where it had not been found previously.

For the second year, the index of 167 countries found India had by far the greatest number of slaves. Up to 14.3 million people in its population of 1.25 billion were victims of slavery, ranging from prostitution to bonded labour.

Mauritania was again the country where slavery was most prevalent by head of population while Qatar, host of the 2022 World Cup, rose up the rank from 96th place to be listed as the fourth-worst country by percentage of the population.

“From children denied an education by being forced to work or marry early, to men unable to leave their work because of crushing debts they owe to recruitment agents, to women and girls exploited as unpaid, abused domestic workers, modern slavery has many faces,” the report said.

“It still exists today, in every country – modern slavery affects us all.”

The index defines slavery as the control or possession of people in such a way as to deprive them of their freedom with the intention of exploiting them for profit or sex, usually through violence, coercion or deception.

The definition includes indentured servitude, forced marriage and the abduction of children to serve in wars.

Hereditary slavery is deeply entrenched in the West African country of Mauritania, where 4 per cent of the population of 3.9 million is estimated to be enslaved, the report said.

After Mauritania, slavery was most prevalent in Uzbekistan, where citizens are forced to pick cotton every year to meet state-imposed cotton quotas, and Haiti, where the practice of sending poor children to stay with richer acquaintances or relatives routinely leads to abuse and forced labour, it said.

Qatar was ranked fourth.

The tiny Gulf state relies heavily on migrants to build its mega-projects including soccer stadiums for the 2022 World Cup. It has come under scrutiny by rights groups over its treatment of migrant workers, most from Asia, who come to toil on construction sites, oil projects or work as domestic help.

The next highest prevalence rates were found in India, Pakistan, Democratic Republic of Congo, Sudan, Syria and Central African Republic.

The index showed that 10 countries alone account for 71 per cent of the world’s slaves.

After India, China has the most with 3.2 million, then Pakistan (2.1 million), Uzbekistan (1.2 million), Russia (1.05 million), Nigeria (834,200), Democratic Republic of Congo (762,900), Indonesia (714,100), Bangladesh (680,900) and Thailand (475,300).

For the first time, the index rated governments on their response to slavery. It found the Netherlands, followed by Sweden, the United States, Australia, Switzerland, Ireland, Norway, Britain, Georgia and Austria had the strongest response.

At the opposite end of the scale, North Korea, Iran, Syria, Eritrea, Central African Republic, Libya, Equatorial Guinea, Uzbekistan, Republic of Congo and Iraq had the worst responses.

Every country in the world apart from North Korea has laws that criminalise some form of slavery, yet most governments could do more to assist victims and root out slavery from supply chains, Walk Free Foundation’s head of global research said.

“What the results show is that a lot is being done on paper but it’s not necessarily translating into results,” Fiona David told the Thomson Reuters Foundation by telephone from Canberra.

“Most countries got 50 per cent or less when we looked at the strength of their victim assistance regime. It’s also striking that … out of 167 countries we could only find three [Australia, Brazil and the United States] where governments have put things in place on supply chains.”

The report showed that conflict had a direct impact on the prevalence of slavery, Ms David said, citing the example of the Islamic State militant group which has abducted women and girls in Iraq and Syria for use as sex slaves.

“What our numbers show is the correlation really is quite strong so as an international community, we need to make planning for this kind of problem part of the humanitarian response to crisis situations,” Ms David said.

Reuters

Henry Sapiecha

There are 34,837,000 millionaires scattered across the globe. Ever wonder where all of these people reside? The Credit Suisse Global Wealth Report is here to help.

The following three infographics show: Millionaires by country, millionaires by density (per city), and developing countries with the biggest concentration of millionaires.

The United States comes in first place by a wide margin, with 41% of the world’s millionaires.\

where-millionaires-reside infographic image www.acbocallcentre.com

Amazingly, 10,000 of Monaco’s 37,000 residents are millionaires. Monaco is a tiny principality next to the French Riviera that is famous for its beaches. Monaco and Zurich have the two highest concentrations of millionaires per city.

millionaires-density-city infographic image www.acbocallcentre.com

China is on pace to have just short of 2 million millionaires by 2017.

developing-world-millionaires developing-world-millionaires infographic image www.acbocallcentre.com

Henry Sapiecha

 

 

WORLDS WEALTH DISTRIBUTION CHARTS

December 7, 2006 A new study on The World Distribution of Household Wealth by the Helsinki-based World Institute for Development Economics Research of the United Nations University was launched earlier this week.

The study shows the richest 2% of adults in the world own more than half of global household wealth. The most comprehensive study of personal wealth ever undertaken also reports that the richest 1% of adults alone owned 40% of global assets in the year 2000, and that the richest 10% of adults accounted for 85% of the world total.

In contrast, the bottom half of the world adult population owned barely 1% of global wealth.

The research finds that assets of US$2,200 per adult placed a household in the top half of the world wealth distribution in the year 2000.

To be among the richest 10% of adults in the world required US$61,000 in assets, and more than US$500,000 was needed to belong to the richest 1%, a group which — with 37 million members worldwide — is far from an exclusive club.

Sourced & published  by Henry Sapiecha

Europe’s 25 Richest

Europe now has 248 billionaires with a total wealth of $1 trillion. More than one-third of that wealth is held by the region’s 25 richest. Among them are the people behind some of our favorite brands and stores, like Louis Vuitton, Ikea, H&M, Nutella and Trader Joe’s. Russia takes the lead with nine of the top 25, followed by Germany and Sweden with four apiece.

Bernard Arnault

France
$27.5 billion
Source: LVMH

Bling is back, helping fashion icon grab title of richest European for first time as shares of his luxury goods outfit LVMH, maker of Louis Vuitton, Moet & Chandon, surge 57%. Renaissance man owns French tour operator Go Voyages, yacht builder Royal Van Lent; has a stake in French retailer Carrefour.

Amancio Ortega

Spain
$25 billion
Source: Zara

Style maven lords over Inditex. Fashion firm, which operates under several brand names, including Zara, Massimo Dutti and Stradivarius, has 4,500 stores in 73 countries, including new spots in Mexico and Syria. Set up joint venture with Tata Group subsidiary to enter India in 2010.

Karl Albrecht

Germany
$23.5 billion
Souce: Aldi

Owns discount supermarket giant Aldi Sud, one of Germany’s (and Europe’s) dominant grocers. Has 1,000 stores in U.S. across 29 states. Estimated sales: $37 billion. Plans to open New York store this year. With younger brother, Theo, transformed mother’s corner grocery store into Aldi after World War II

Ingvar Kamprad & family

Sweden
$23 billion
Source: Ikea

Ikea’s reputation under fire. In Russia company fired two top managers for allowing bribes to a power supplier. In France firm is facing an extended workers’ strike. A former managing director has published a book exposing questionable ethics.

Stefan Persson

Sweden
$22.4 billion
Source: Hennes & Mauritz

“Cheap chic” mogul is chairman of Hennes & Mauritz (H&M); promoted son, Karl-Johan, 34, to chief executive in July. Retailer is known for bringing on big names, like Karl Lagerfeld, Stella McCartney, to design affordable collections for its 1,900 stores.

Liliane Bettencourt

France
$20 billion
Source: L’Oreal

Makeup heiress’ fortune rebounding with L’Oreal shares. Company, founded by her father, celebrated its 100th birthday in 2009. Last year only daughter and heir, Francoise Bettencourt-Meyers, petitioned courts to investigate reported $1.4 billion worth of cash and gifts her mother allegedly gave to Francois-Marie Banier, 61, a well-known photographer, writer and painter she befriended. Daughter claims Banier took advantage of her mother, who became a widow in 2007. Liliane denies it.

Michael Otto & family

Germany
$18.7 billion
Source: retail

Father Werner Otto, who turned 100 last August, started out with a 14-page shoe catalog in 1949. Michael joined in 1971, expanded operations overseas and moved company into Internet sales; now world’s second biggest Internet retailer after Amazon.

Michele Ferrero & family

Italy
$17 billion
Source: chocolates

Secretive chocolate chief mulled bidding for British rival Cadbury; backed off this January. Richest man in Italy owns privately held Ferrero, chocolatier that makes such brands as Ferrero Rocher, Nutella, Tic Tac and Kinder Eggs. 2008 Sales: $8.4 billion.

Theo Albrecht

Germany
$16.7 billion
Source: Aldi, Trader Joe’s

Owns discount supermarket group Aldi Nord. With estimated sales of $34 billion, still a sector leader, but lost ground this year as flat sales and strong rivals in some of its European markets pushed down profits. Has been more successful with his U.S. holding: discount food chain Trader Joe’s 340 stores have attracted cost-conscious customers during the recession.

Vladimir Lisin

Russia
$15.8 billion
Source: steel

Russia’s richest is a proletarian success story. First job was as a mechanic in a coal mine. After college in Siberia got job as steelworker. In 1991, when his boss was appointed minister of metallurgy, Lisin came with him to Moscow.

Mikhail Prokhorov

Russian
$13.4 billion
Source: cash, investments

Bachelor billionaire making moves in the U.S. Last fall his Onexim signed an agreement to buy 45% of the Atlantic Yards development project, a stadium and apartment complex in New York, for $200 million; he will also get an 80% stake in the New Jersey Nets basketball team.

Birgit Rausing & family

Sweden
$13 billion
Source: packaging

After death of her husband Gad Rausing in 2000, she and her three children inherited packaging giant Tetra Laval. It was her father-in-law who founded the company, which revolutionized the packaging of liquids such as juices and milk, in 1944. Today sales are $15.3 billion.

Mikhail Fridman

Russia
$12.7 billion
Source: oil, banking, telecom

His Alfa Group, which he shares with fellow billionaires German Khan and Alexei Kuzmichev, buoyed by rising oil prices; stake in TNK-BP doubled over the past year. Interest in Alfa Bank also up; the bank recovered most of its money from borrowers like fellow billionaire Oleg Deripaska.

Gerald Cavendish Grosvenor

& family

U.K.
$12 billion
Source: real estate

The sixth Duke of Westminster is the U.K.’s wealthiest land owner. His Grosvenor property group has valuable holdings on 5 continents: posh Mayfair and Belgravia neighborhoods of London; additional land in London via private family trusts; farmland in northern England and Scotland.

Roman Abramovich

Russia
$11.2 billion
Source: steel, investments

Fortune up on steel price recovery; value of stake in steel giant Evraz increased nearly threefold. Celebrating birth of son with girlfriend and art enthusiast Dasha Zhukova. Threw New Year’s bash for his friends and partners on St. Barts, which cost a reported $5 million; Beyoncé, Prince and Gwen Stefani performed.

Susanne Klatten

Gemany
$11.1 billion
Source: BMW, drugs

Inherited stake in automaker BMW from late father Herbert Quandt, who rescued it from bankruptcy decades ago. A trained economist with an MBA also inherited a 50% stake in chemical manufacturer Altana and sits on supervisory board. Now controls over 95% of Altana; seeking to acquire remaining shares and delist the firm.

Oleg Deripaska

Russia
$10.7 billion
Source: aluminum

Metals magnate back from the brink. Facing margin calls and $20 billion in total debt, he removed the heads of his two largest companies and personally negotiated with the Russian government, banks and other creditors to restructure his loan obligations. This year his Rusal, the world’s largest aluminum producer, raised $2.2 billion in an initial public offering in Hong Kong.

Vagit Alekperov

Russia
$10.6 billion
Source: Lukoil

Former Caspian Sea oil rig worker later became a deputy minister in the Soviet oil industry. In 1991 took three large ministry-controlled oil fields and set up Lukoil. Now president of Lukoil, Russia’s largest independent energy company, with a 20% stake. The firm’s reserves are second only to ExxonMobil

Leonardo Del Vecchio

Italy
$10.5 billion
Source: eyewear

Sent to an orphanage at age 7. Worked as an apprentice at a factory that made molds for auto parts, eyeglass frames. Founded Luxottica in 1961 and started making his own eyeglasses. Still chairs Luxottica, ($6.8 billion fiscal year 2008 sales) world’s largest manufacturer of sunglasses and prescription eyewear and also largest eyewear retailer.

Vladimir Potanin

Russia
$10.3 billion
Source: metals

In January became the first Russian billionaire to announce he would transfer his fortune to charity and not his children. Plans to list Russia’s largest media group, Prof-Media, which owns magazines, radio stations, movie theaters and broadcasts Russian versions of MTV and VH-1, this year.

Ernesto Bertarelli & family

Italy
$10 billion
Source: biotech

Inherited biotech firm Serono when father died in 1998. Ran for years; grew revenues to $2.4 billion in 2006. Blockbuster drug: $1.4 billion (annual sales) multiple sclerosis therapy Rebif. Sold company to Germany’s Merck 2007. With his sister, took home $9 billion. Lost America’s Cup to yachting rival Larry Ellison in February.

Hans Rausing

Sweden
$10 billion
Source: packaging

Father founded packaging giant Tetra Laval in 1944. Hans and brother Gad inherited the business. Hans sold his share to Gad for estimated $7 billion in 1995. Moved to U.K. in early 1980s to avoid punitive Swedish taxes. Resides on a 900-acre estate in village of Wadhurst in East Sussex.

Alexei Mordashov

Russia
$9.9 billion
Souce: steel

Chief executive and controlling shareholder of steelmaker Severstal relieved by steel price recovery; stock price up nearly threefold from last year’s lows. Recently announced the company’s gold unit will buy up foreign assets to expand production of the high-flying metal.

Viktor Rashnikov

Russia
$9.8 billion
Source: steel

In January reaffirmed partnership with billionaire Dmitry Pumpyansky’s TMK, one of the largest customers of his iron and steel producer, MMK. Began career at Magnitogorsk Iron & Steel mill (MMK) in 1967 as a mechanic, becoming its general director.

Silvio Berlusconi & family

Italy
$9 billion
Source: media

Suffering from more than just a bruised reputation; in December 2009, man broke the billionaire’s nose and teeth with a statue of Milan’s cathedral. Politico with 9 lives became Italy’s prime minister for a third time in April 2008 after his predecessor lost a confidence vote and new elections were held

Sourced & published by Henry Sapiecha

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