The wealthiest 0.001 per cent of the global population, fewer than 60,000 individuals, now control three times more wealth than the poorest half of humanity combined, according to the World Inequality Report 2026 released by the World Inequality Lab.
The report, coordinated by Lucas Chancel, Ricardo Gรณmez-Carrera, Rowaida Moshrif and Thomas Piketty, draws on research from over 200 scholars worldwide and represents the third edition in the series following publications in 2018 and 2022.
The top 10 per cent of global income earners capture more than the remaining 90 per cent of the population, while the poorest half receives less than 10 per cent of total global income. Wealth concentration proves more pronounced, with the top 10 per cent owning 75 per cent of global wealth and the bottom half holding just 2 per cent.
Billionaire wealth grows twice as fast as bottom 50% since 1990s, new report shows
The share of wealth held by the richest 0.001 per cent of adults rose from 3.8 per cent in 1995 to 6.1 per cent in 2025. The wealth of billionaires and centi-millionaires has grown at approximately 8 per cent annually since the 1990s, nearly twice the rate experienced by the bottom half of the population.
“Inequality is silent until it becomes scandalous. This report gives voice to inequalityโand to the billions of people whose opportunities are frustrated by today’s unequal social and economic structures,” Ricardo Gรณmez-Carrera said.
The report reveals that the poorest half of the global population accounts for only 3 per cent of carbon emissions associated with private capital ownership, while the top 10 per cent account for 77 per cent. The wealthiest 1 per cent alone account for 41 per cent of private capital ownership emissions, almost double the amount of the entire bottom 90 per cent combined.
“Extreme inequalities are unsustainableโfor our societies and for our ecosystems,” Lucas Chancel added.
Women earn 32% of men’s hourly income when unpaid domestic labour included, study finds
Women globally capture just over a quarter of total labour income, a share that has barely shifted since 1990. In the Middle East and North Africa, women’s share stands at 16 per cent, while in South and Southeast Asia it reaches 20 per cent. Europe, North America and Oceania perform better, but women still capture only about 40 per cent of labour income.
Women work more hours than men on average, 53 hours per week compared to 43 for men, when domestic and care work is included. Women earn only 61 per cent of men’s hourly income when excluding unpaid work. When unpaid labour is included, this figure falls to 32 per cent.
Average education spending per child in Sub-Saharan Africa stood at โฌ220 in 2025, measured in purchasing power parity terms, compared with โฌ7,430 in Europe and โฌ9,020 in North America and Oceania. This represents a gap of more than 1 to 40, approximately three times the gap in per capita GDP.
An average person in North America and Oceania earns about thirteen times more than someone in Sub-Saharan Africa and three times more than the global average. Average daily income in North America and Oceania reaches about โฌ125, compared to โฌ10 in Sub-Saharan Africa.
Ultra-rich pay less tax than middle-income households as progressive system fails at top
The report shows that billionaires and centi-millionaires pay proportionally less in income tax than most households that earn lower incomes. Effective income tax rates climb steadily for most of the population but fall sharply for the ultra-wealthy.
A global minimum tax on billionaires and centi-millionaires could raise between 0.45 per cent and 1.11 per cent of global GDP and could finance investments in education, healthcare and climate adaptation.
Around 1 per cent of global GDP, approximately three times development aid, flows from poorer to richer nations each year through net foreign income transfers. The United States maintains a financial privilege of 2.2 per cent of GDP, the Eurozone 1 per cent, and Japan 5.9 per cent. BRICS countries face a burden of around 2.1 per cent.
“We live in a system where resources extracted from labour and nature in low-income countries continue to sustain the prosperity and the unsustainable lifestyle of people in high-income economies and rich elites across countries,” Jayati Ghosh explained.
The traditional class-based alignment of politics in Western democracies has broken down. In the 1960s, both higher-educated and high-income voters were less likely to vote for left-wing parties than lower-educated and low-income voters by more than 10 percentage points. Education and income now point in different directions.
Gaps in political affiliations between large metropolitan centres and smaller towns have reached levels unseen in a century. In France and South Korea, the richest 10 per cent of citizens disproportionately provide the majority of political donations.
The report demonstrated that redistributive transfers and progressive taxation have reduced inequality in every region. In Europe and North America and Oceania, tax-and-transfer systems cut income gaps by more than 30 per cent.
“History, experiences across countries, and theory all show that today’s extreme inequality is not inevitable,” Joseph E. Stiglitz said.
“The World Inequality Report 2026 shows that inequality is not inevitable, it is shaped by choices, institutions, and power,” Rowaida Moshrif added.
The report covered data on income, wealth, gender, international finance, climate responsibility, taxation and politics, drawing on the World Inequality Database.
