56 Money Facts - Wealth, Inflation & Global Economics

Wealth and Inequality

The richest 1% of the world's population owns more wealth than the bottom 50% combined.
Jeff Bezos earns more in one second than the median American worker earns in a week.
Oxfam estimates that the world's billionaires could end extreme poverty seven times over with their combined wealth.
The wealth gap between the richest and poorest countries has tripled over the past 25 years.
A person would need to work for over 250,000 years at median wage to earn what the richest billionaires possess.
During the pandemic, the world's ten richest people doubled their wealth while 160 million more fell into poverty.
Inheritance accounts for approximately 60% of all wealth in Europe and the United States.
The average CEO in the US earns 351 times more than their typical worker.

The highest inflation ever recorded was in Hungary in 1946, when prices doubled every 15 hours.
A loaf of bread in Germany during hyperinflation in 1923 cost 200 billion marks.
Zimbabwe printed a 100 trillion dollar note in 2009, which was barely enough to buy a bus ticket.
The US dollar has lost over 96% of its purchasing power since 1913 when the Federal Reserve was created.
Venezuela's inflation rate exceeded 1,000,000% in 2018, making its currency nearly worthless.
After World War II, Japanese inflation was so severe that new yen were issued at 1/50th the value of old yen.
Ancient Rome debased its currency so severely that the silver content of coins dropped from 95% to under 5%.
The term inflation comes from the Latin word meaning 'to blow up' or expand.

The average American household carries over $100,000 in debt including mortgages.
Only 44% of adults globally have enough savings to cover an unexpected $400 expense.
The average person spends about 6 years of their life shopping.
Credit card debt in the US exceeds 1 trillion dollars.
Women typically retire with 30-40% less savings than men due to the gender pay gap and career breaks.
The average cost of raising a child to age 18 in the UK exceeds £150,000.
Nearly 40% of millennials have never invested in the stock market.
The average student loan debt for university graduates in the UK is approximately £45,000.

House prices in the UK have increased by over 1,000% since 1980.
The average first-time buyer age has risen from 25 in the 1960s to 34 today.
In some cities, housing costs exceed 50% of median household income.
Empty properties in the UK could house every homeless person more than four times over.
The world's most expensive home, Buckingham Palace, is valued at over 5 billion dollars.
Millennials are the first generation in modern history to own less property than their parents at the same age.
Hong Kong has the least affordable housing in the world, with homes costing 21 times median income.
The average size of new homes in the UK has shrunk by 20% since the 1970s while prices have quadrupled.

There is more Monopoly money printed each year than real US currency.
The first paper money was created in China over 1,000 years ago during the Tang Dynasty.
Only about 8% of the world's currency exists as physical cash; the rest is digital.
The Bank of England has never been robbed, despite existing for over 325 years.
The US hundred-dollar bill is the most counterfeited currency in the world.
Swiss banks hold an estimated 7 trillion dollars in offshore wealth.

Global debt now exceeds 300 trillion dollars, more than three times the world's GDP.
Japan's national debt is over 260% of its GDP, the highest of any developed nation.
The average American dies with approximately $62,000 in debt.
Medical bills are the leading cause of personal bankruptcy in the United States.
The concept of compound interest, called the eighth wonder of the world by Einstein, can double money every 7 years at 10%.
Credit scores were only invented in 1989, yet now determine access to housing, jobs, and loans.

More than 700 million people still live on less than $2.15 per day.
The combined GDP of Apple, Amazon, and Google exceeds the GDP of most countries.
China's economy has grown by over 10,000% since opening to market reforms in 1978.
The global economy loses an estimated 11 trillion dollars annually to corruption.
More money is spent on pet care annually in the US than the GDP of over 100 countries.
The shipping industry alone contributes more to global GDP than the economies of most African nations combined.