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Survey Finds Richest 3% Hold One-Fifth Of World's Income

Just three percent of the world's richest people hold one-fifth of the total collective household income, according to the results of a Gallup survey released on Friday.

The survey found that the richest 3 percent of residents hold 20 percent of household income, while the same amount is held by the poorest 54 percent.

"In other words, the 3% reporting the highest household incomes share the same 'slice' of collective income across countries that more than half of residents worldwide -- those on the lower end of the income scale -- must share," Gallup said.

Gallup said the highest income inequality levels were found in sub-Saharan Africa and East Asia, particularly in China.

In the U.S. and Canada, the richest 4 percent and the poorest 54 percent each hold one-fifth of the collective household income.

Pope Francis has made headlines for his efforts to draw attention to income inequality, while President Obama has frequently pledged to focus on addressing the issue.

"High levels of income inequality have been associated with a variety of social problems such as poverty, crime, and social instability, particularly in countries where living standards are low for most residents," Gallup said.

Gallup said the income data came from interviews conducted in 131 countries and regions from 2006 to 2012. The margin of error ranges from plus or minus 1.4 percentage points to plus or minus 4.7 percentage points.

by RTTNews Staff Writer

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