What’s in a number? Why do we have a millionaires and billionaires (and talk of trillionaires) but not thousandaires and hundredaires?
I loved this article by Peter Coy and Tom Maloney at Bloomberg, discussing a way to rank wealth using a logrithmic scale from -2 to 11.
Although their point is that there is a vast spread between the poorest and the two wealthiest (Bill Gates and Jeff Bezos.) I, as a data geek, found the data from their source so interesting.
Quoting the Credit Suisse Global Wealth Report 2018, there are approximately 41.8 million people on the planet with a net worth above $1,000,000. That leaves about 5 billion people with less than a $1,000,000 net worth.
Instead of pirating their charts, I’ll post the link here in the source. Check it out for an interesting read.