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Millionaires around the world

That's right, according to Cap Gemini there are 11million millionaires in the world (Credit Suisse believes that the number of millionaires is 26 million, but I like the methodology of Cap Gemini which factors a more conservative estimate of the financial assets based on macro-economic factors).

Yes, 0.16% of the world have assets more than 1million US dollars. Their total wealth is $44Trillion. Switzerland, Japan, Germany and the USA have the biggest accumulation of millionaires. India and China show the biggest growth. That's phenomenal!

I find the numbers staggering:

• Only 0.16% of the world population is made up of millionaires. That's a lot lower than I thought.
• However, the top 0.16% control $44Trillion of the world's wealth. That's around 22% of the $200Trillion estimated world wealth according to various estimates. $44Trillion is important when you consider that the world's GNP is $77Trillion.

Now let us contrast this with other set of numbers:

• And more than 3Billion people live on $2.50 a day.
• Consider this: according to various estimates (inc. World Bank, OECD), the total amount that is donated to charities is around $700Billion (not just the millionaires giving but all the people who give to charities). 
• So it is safe to surmise that donations alone will not make a dent in global poverty (however, charity plays an important role during short term crisis management - floods, earthquakes). After years of marketing and tax rebates, charities are attracting a very small proportion of the total wealth (actually 1.6% of the wealth of the top 0.16% of the world or 0.35% of the total global wealth). 

Here are my take-aways:

• We have been measuring the wrong things. If we teach people to maximize wealth and we continue to publish the wealth list, then people focus on wealth accumulation. We need to focus on how much "social capital" is the person creating (not just personal wealth).
• We need business innovation to create jobs for everyone. Because jobs create dignity, increase disposable income for shopping etc. and shopping is fun.
• Imagine, a system where the more good you do, your social currency increases and with your social currency, you can go shopping! Suddenly, you are having fun AND changing the world at the same time. That's majamba.me!

http://www.youtube.com/user/majambaME