Tag Archives: Paradise Papers

World’s richest 1% have as much wealth as bottom 50%, study finds

Credit Suisse report highlights increasing gap between the super-rich and the remainder of the globe’s population

The globe’s richest 1% have as much wealth as the bottom 50% – 3.8 billion people – according to a new report highlighting the growing gap between the super-rich and everyone else.

The world’s richest people have seen their share of the globe’s total wealth increase from 42.5% at the height of the 2008 financial crisis to 50.1% in 2017, or $140tn (£106tn), according to Credit Suisse’s global wealth report published on Tuesday.

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Why Russian Oligarchs Will Be First to Leave Their Offshore Paradise (Op-ed)

The Paradise Papers could help Putin’s efforts to return capital onshore

The release of the Paradise Papers has highlighted a well-known and unpleasant fact: The rich and powerful have a tendency to hide their wealth offshore, away from the public eye.

Tax havens unite people of different molds into a single caste — from dictators to democrats, and prime ministers to queens. They also don’t discriminate between Americans or Angolans — status is more important than nationality. And they stretch across political divides, from liberal democrats to conservatives.

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From Harvey Weinstein to Shakira, the celebrities with offshore interests

Martha Stewart, Madonna and Nicole Kidman are among those named in leaked Paradise Papers documents

They are some of the biggest names in entertainment, and all of them make an appearance in the Paradise Papers. Some do so by name, such as the “Ciccone, Madonna” listed in tiny print among the investors of a Bermuda company, while others are there by dint of the offshore entities they have backed.

Continue reading From Harvey Weinstein to Shakira, the celebrities with offshore interests