I didn’t grab the full article. Here is the link to the full Washington Post article.
What it’s like to be a part of the world’s richest 1 percent, in 15 incredible photos
By Ana Swanson July 30, 2015
How much do we really know about the world’s wealthiest people?
We often think we understand the rich because we read tabloids and watch celebrities on TV, says Myles Little, a New York City-based photo editor who has put together a new collection of photographs on the richest 1 percent. But actually, most people know surprisingly little about the world’s wealthiest.
For example, many people assume the world’s top earners are movie stars or athletes — like boxer Floyd Mayweather, who ranked as the top-paid athlete with a respectable $300 million in 2015.
Yet the world’s top hedge fund manager made far more last year than Mayweather. Ken Griffin, the founder of Chicago hedge fund Citadel, pocketed $1.3 billion last year, and is hardly a household name.
Little cites another example: One survey asked people around the world how much more they thought chief executives made than their workers. In the U.S., the median response was around 30 times more. But the survey respondents were off by a factor of 10 — it’s actually 354 times more.
In the U.S., the top 1 percent now control about a quarter of the nation’s income and 40 percent of its wealth. Worldwide, the top 1 percent own about 50 percent of the world’s wealth.
“We think we know wealth, and we don’t at all,” says Little.
Little is attempting to bridge this gap with a new photo collection, “1 percent: Privilege in a time of global inequality.” The photographs are a fascinating glimpse into a global ecosystem of privilege that is both segregated from and reliant on the 99 percent.
