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A new study has examined the varying fortunes of the world’s richest people between 1988 and 2012 to identify which parts of the world the top 1% come from.

Luxury yachts in marina of eden island seychelles Nadezda Stoyanova
Countries with the world's richest one per cent

Image: www.shutterstock.com

It finds that compared with previous decades, many more of the global super-rich are from emerging countries, with a corresponding decline in the share of those from advanced economies. The region with the fastest growth in its share of the world’s richest elite is developing East Asia and the Pacific, explained largely by China's economic rise. Researchers calculated the global distributions of income based on household surveys and income tax records. They find that the United States still dominates with 38% of the individuals in the global top 1% in 2012, but this is much smaller than in 1998 when Americans made up nearly half of this group. By contrast, China's share in the global top 1% rose from 1.3% to 3.4% between 2005 and 2012. Its share of the world's billionaires is much larger – in 2016, it is 14%. 

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