Saturday, August 06, 2011

New Zealand Inequality

The 10 wealthiest New Zealanders have total assets of $21.7 billion, the equivalent of 37.5 per cent of the total value of all NZX-listed companies at the end of June.

The 50 wealthiest individuals in both countries in New Zealand has total assets equivalent to 61.3 per cent of the NZX's total value.

The top 10 in the Rich List have total assets equal to 11.0 per cent of GDP.

In mid-1987 the top 10 New Zealand Rich Listers were worth $2.9 billion or 6.9 per cent of the NZX's value of $42 billion, whereas they are now worth $21.7 billion or 37.5 per cent of the NZX's current value of $58 billion.

The top decile (top 10 per cent of wealthy in terms of numbers) have 52 per cent of the country's wealth and 25 per cent of the country's income. ( The report reveals that the top decile holds 45 per cent of the United Kingdom's wealth and 71 per cent of total United States wealth.)

From here

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