This is an extension of the “Wealth on earth 2017” post that outlines the global perspective on wealth. This one is focused on Israel alone.
The data is based on the ‘Global Wealth Databook’ by Credit Suisse — a very extensive and detailed report. Naturally, the figures quoted are huge and sometimes hard to digest. This post is designed to simplify it and let you check where you fit in all this.
In 2017 there were about 5.3 Million adults in Israel and the total wealth of everyone there was $1 Trillion.
Imagine the entire Israeli population is scaled down into an imaginable stadium with ‘only’ 10,000 people. Each person in the stadium represents 530 people.
You’re invited to be one of the 10,000
In a perfectly egalitarian society, every adult would have $198k. You, like every other person in the stadium who represents another 529 adults, would be the happy custodian of $100m
But Israel isn’t egalitarian. The Israeli Gini coefficient in 2017 was 74.2 (from zero to 100, the higher the number- the greater the degree of inequality).
So where do you fit in this?
First, you need to figure out what’s your personal wealth.
To do that, you need to add up the value of all your possessions- tangible and financial, minus any debt you may have.
Now checkout where you fit based on your own personal wealth:
- Under $10k — 22% of the people share similar wealth as yours.
- $10k-$100k — at least 2,231 in the stadium own less than you do. Your cohort is the biggest in the stadium with 3,871 people.
- $100k-$1m — you own more than at 6,102 in the stadium and you’re cohort is 3,671 people.
- $1m-$5m — when it comes to wealth — you must be very lucky. Almost 98% of the people here own less than you. There are only 197 people that have similar net worth to yours.
- $5m-$10m — among the entire 10,000 people, only 18 share similar net worth to yours.
- $10m-$50m — you are one of 11 lucky people who have similar net worth in the entire stadium.
- If your net worth is $50m or more you own more than anyone else in the stadium.
I scaled the numbers so that each one represents 530 people, so some numbers are obviously rounded up. For example, the actual number of the Ultra High Net Wealth cohort ($50m or more) is 869. The breakdown according to the report is: 506 ($50–100m), 315 ($100–500m), 28 ($500m-1B)and 20 Billionaires.
Please checkout the original post — “Wealth on Earth 2017".
If you’d like me to run the same simulation for a specific country, simply ask in the comments part.
