French consulting group: Russia's income disparity is the largest in the world among major economies
In Russia, almost two-thirds of the country’s wealth is in the hands of millionaires. This makes its economy the "most unfair" of all major world economies, according to experts at the French multinational management consulting corporation, Capgemini.
The most unequal distribution of wealth of all the world's major economies is in Russia. This conclusion was reached in the World Wealth Report by the consulting company Capgemini, published on Wednesday, August 31, 2016. In the report, the experts indicate that 62 percent of all of Russia's wealth is in the hands of millionaires, 26 percent of which lies with billionaires.
"If the millionaires control over 50 percent of the wealth of the country, there remains very little room for any significant layer of middle class," the authors of the World Wealth Report say. The experts from Capgemini believe that India is the second country in the degree of the "unfairness" of their economy, where millionaires control 54 percent of the wealth.
Japan is named as the country with the most egalitarian distribution of wealth and is the third largest economy in the world. Here, millionaires are in control of 22 percent of the national wealth. The U.S. economy was called "unexpectedly fair," where millionaires account for around one third of the national wealth. "It's surprisingly few, given all the negative reports in the media about income inequality in the United States," the report reads.