“Now let’s move on to the global picture, and look at the share of global wealth held by the richest 1% - a slightly different measure than the earlier chart, which looked at income inequality. A January 2016 Oxfam report revealed that the richest 1% held over 50% of global wealth – a situation that has become steadily worse over the last five years:
But Bill Gates’ point – which he has made before – is that while incomes at the top of the scale may be rising, overall global inequality is being reduced by the reduction of poverty.
While he is specifically referring to the last 20 years or so, the wider point can be illustrated by taking a longer view. This graphic from Our World in Data shows the progress made in improving the distribution of world income over the last 200 years.”
Bill Gates: Global inequality is falling faster than ever