--- title: Wealthiest 1 Percent Nearly Owns More Than The Rest Of Us Combined | TIME description: In a story truly based on the phrase the rich get richer, a U.K.-based charity says the wealthiest one percent will own more than the rest of us combined by next year. canonical: https://time.com/video/e49Catau/ og:title: Wealthiest 1 Percent Nearly Owns More Than The Rest Of Us Combined og:description: In a story truly based on the phrase the rich get richer, a U.K.-based charity says the wealthiest one percent will own more than the rest of us combined by next year. og:url: https://time.com/video/e49Catau/ og:image: https://cdn.jwplayer.com/v2/media/e49Catau/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: Wealthiest 1 Percent Nearly Owns More Than The Rest Of Us Combined twitter:description: In a story truly based on the phrase the rich get richer, a U.K.-based charity says the wealthiest one percent will own more than the rest of us combined by next year. twitter:image: https://cdn.jwplayer.com/v2/media/e49Catau/poster.jpg?width=720 --- # Wealthiest 1 Percent Nearly Owns More Than The Rest Of Us Combined > Sponsored content. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: Wealthiest 1 Percent Nearly Owns More Than The Rest Of Us Combined [Watch (HLS stream): Wealthiest 1 Percent Nearly Owns More Than The Rest Of Us Combined](https://cdn.jwplayer.com/manifests/e49Catau.m3u8) (1:28)  _Published 2015-01-19. In a story truly based on the phrase the rich get richer, a U.K.-based charity says the wealthiest one percent will own more than the rest of us combined by next year._ --- Jul 27, 2023 5:46 PM UTC --- ## More From This Series [All Videos](https://time.com/video/) [The 4 Wealthiest Disney Princesses](/video/pGZ1R7fC/) ### The 4 Wealthiest Disney Princesses [Cristiano Ronaldo is No Longer the World's Wealthiest Athlete](/video/EHxe3EH3/) ### Cristiano Ronaldo is No Longer the World's Wealthiest Athlete [Who are the wealthiest NBA owners? ](/video/kzLAueHR/) ### Who are the wealthiest NBA owners? --- ## Transcript In a story truly based on the phrase the rich get richer, a UK- based charity says the wealthiest 1 % will own more than the rest of us combined by next year. Oxfam International's study, released Monday morning ahead of the World Economic Forum in Davos. Showed the world's global elite increase their share of wealth from 44 % in 2009 to 48 % last year. A number Oxfam's executive director called simply staggering. The numbers are of course controversial if you believe narrowing the wealth gap makes for a stronger economy. These findings are troubling. If you believe in the trickle- down theory of the wealthy stimulating growth and prosperity, you probably think the numbers are misleading. Credit Suisse also released a study in October with findings very similar to Oxfam's, that the richest 1 % owns nearly half of the world's wealth. That report states the US accounts for about 41 % of the world's millionaires, far and away the greatest number of one percenters. In Tuesday night's state of the union address, President Obama plans to call for tax increases on the wealthy to help the middle class, though just how feasible such overtures are in a Republican held Congress is questionable. Some of those goals from the President happen to coincide with ox seven point plan to narrow the wealth gap. Highlights of the plan include, Clamp down on tax dodging by corporations and rich individuals, Invest in universal, free public services such as health and education, and introduce minimum wages and move towards a living wage for all workers ```json {"@context":"https://schema.org","@type":"VideoObject","name":"Wealthiest 1 Percent Nearly Owns More Than The Rest Of Us Combined","description":"In a story truly based on the phrase the rich get richer, a U.K.-based charity says the wealthiest one percent will own more than the rest of us combined by next year.","thumbnailUrl":"https://cdn.jwplayer.com/v2/media/e49Catau/poster.jpg?width=720","uploadDate":"2015-01-19T18:26:38.000Z","contentUrl":"https://cdn.jwplayer.com/manifests/e49Catau.m3u8","embedUrl":"https://time.com/video/e49Catau/","duration":"PT1M28S","potentialAction":{"@type":"SeekToAction","target":"https://time.com/video/e49Catau/?jw_start={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"}} ```