A tiny elite controls the lion's share of global wealth and power, says report

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A tiny elite controls the lion's share of global wealth and power, says report  From wealth hoarding and tax breaks for billionaires to unpaid care work and climate damage, the World Inequality Report paints a picture of an economic order tilted towards a tiny ultra-wealthy minority.  READ MORE : http://www.euronews.com/2025/12/11/a-tiny-elite-controls-the-lions-share-of-global-wealth-and-power-says-report  Subscribe to our channel. Euronews is available on Dailymotion in 12 languages

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00:00A new world inequality report warns that fewer than 60,000 of the world's richest people

00:05own more wealth than half of the entire world put together.

00:09The report highlights extreme gaps in income and wealth,

00:13which translate into unequal distribution of political power.

00:17A global elite amounting to 0.001% of the population is three times wealthier than the bottom 50%.

00:25At the same time, the top tier contributes disproportionately little to public finances.

00:32Middle-class workers on a high professional salary such as doctors, teachers and engineers

00:37pay a higher share of their income in tax than a billionaire whose wealth is based on offshore structures or capital gains.

00:45Global wealth inequality also leads to an unequal contribution to climate change.

00:49The report shows that a person in the global top 1% income group emits on average around 75 times more carbon per year

00:58than someone in the bottom 50%.

01:01At the global scale, the top 1% accounts for 41% of all greenhouse gas emissions under ownership-based accounting.

01:09The report argues that the international monetary and financial system

01:13is structurally set up to favor rich countries and drain resources from poorer ones.

01:18Crucially, the report argues this pattern is not the natural outcome of free markets,

01:24but the result of political and institutional design.

01:28The report concludes that the current global system reproduces inequality between countries

01:33in a way that echoes, in a subtler form, older patterns of colonial extraction.

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