Based on Share of Income of the Richest 1%
Wealth inequality worldwide is a serious issue that has been deepening over time–the rich get richer and the poor get poorer. But just how bad is economic inequality globally? According to the latest report provided by the World Inequality Database, the top 10% own nearly 75% of the world’s entire wealth, while half of the world’s population is almost entirely devoid of it. Is wealth inequality getting worse? Slowly but surely, the divide is growing. The wealth owned by the richest .01% has grown from 8% of total wealth in 1995 to 12% currently. The gap between the wealthiest .01% and the bottom 50% has increased 50% between 2008 and 2022 with no relief or change in sight. Of course, there is significant variation in wealth inequality by country. To shed light on which countries have the most wealth inequality, the team at Madison Trust has created this eye-opening visualization using data on the income share of the richest 1% by country:

Which country has the greatest wealth inequality?
The country with the highest wealth inequality based on the income share of the richest 1% is the Maldives. The wealthiest 1% in the Maldives receive 35.61% of the country’s entire income. Here are the top 10 countries with the highest wealth inequality (based on how much of the country’s income is received by the wealthiest 1%):
- Maldives wealth inequality – 35.61%
- Mozambique wealth inequality – 31.11%
- Central African Republic wealth inequality – 31.00%
- Mexico wealth inequality – 26.81%
- Cambodia wealth inequality – 26.81%
- Myanmar wealth inequality – 26.49%
- Angola wealth inequality – 25.98%
- Peru wealth inequality – 25.18%
- Bahrain wealth inequality – 24.34%
- Yemen wealth inequality – 24.20%
Which country has the most wealth equality?
Which country has the least wealth inequality? The Scandinavian country Norway is believed to have the most egalitarian economy in the world with only 6.87% of the country’s income going to the wealthiest 1%. As a result, Norway’s economy is often referred to as the world’s most inclusive economy. However, this was not always the case. Over a century ago, Norway experienced poverty levels and wealth inequality akin to America’s Gilded Age (when 11 of the nation’s 12 million families earned under $1,200 annually). Norwegians became discouraged by the results of this colossal wealth gap: hunger, poverty, and crime ran rampart, the elderly were often abandoned, and young people struggled to find work. Over the next decades, movements piloted by workers and social reformers gained momentum and popularity, gradually transforming Norway’s economy into the healthy, balanced entity that it is today. Critics of Norway’s dedication to a strong welfare base (and the higher taxes and regulation that come with it) believe that it stifles entrepreneurship. In reality, the opposite is true. Norway ranked 7th out of the 50 participating countries in the National Entrepreneurial Context Index in 2023. In fact, research shows that Norwegians may be greater risk-takers than average because they do not have to worry about educational debt, retirement, or medical care.
Why is income inequality so low in Nordic countries?
According to the Institute of Policy Studies, the “robust social safety nets and progressive taxation” of Norway and other Nordic countries contribute to a well-rounded economy that reduces income disparities. Nordic countries are also among the happiest countries in the world. While many factors play a role in the overall happiness of Scandinavian countries, The World Happiness Report describes the “reliable and extensive welfare benefits” as a key ingredient. It goes on to state that: “People tend to be happier in countries where there is easy access to relatively generous welfare benefits, and where the labor market is regulated to avoid employee exploitation.”
Is wealth inequality high in the United States?
How bad is income inequality in the U.S.? Wealth inequality in America is higher than almost any other developed country. 20.87% of the United States’ income goes to the wealthiest 1%, earning it 22nd place in our list of countries with the highest wealth inequality. This issue has only been aggravated over time; in the past 60 years, there has been a massive transfer of wealth from the middle class to the wealthiest families. In 1963, the wealthiest families held 36 times the wealth of the middle class. By 2022, this increased to 71 times the wealth. Racial wealth inequality in the United States is another dire pain point. In 2023, white households accounted for 85% of total U.S. wealth.
How are the rich getting richer? While there are countless factors involved, appreciating assets and wise investments plant the seeds for growing wealth for many of the world’s most illustrious. We can help you put your wealth to work so that it blossoms into near and future success for you and your family.
Countries Around the World Ranked by Share of Income of the Richest 1%
Rank |
Country |
Share of Income of the Richest 1% |
1 |
Maldives |
35.61% |
2 |
Mozambique |
31.11% |
3 |
Central African Republic |
31.00% |
4 |
Mexico |
26.81% |
5 |
Cambodia |
26.79% |
6 |
Myanmar |
26.49% |
7 |
Angola |
25.98% |
8 |
Peru |
25.18% |
9 |
Bahrain |
24.34% |
10 |
Yemen |
24.20% |
11 |
Russia |
23.76% |
12 |
Chile |
23.66% |
13 |
Zambia |
23.17% |
14 |
Botswana |
22.74% |
15 |
India |
22.60% |
16 |
Qatar |
22.44% |
17 |
Namibia |
21.57% |
18 |
Zimbabwe |
21.08% |
19 |
Cote d'Ivoire |
21.03% |
20 |
Saudi Arabia |
20.98% |
21 |
Costa Rica |
20.94% |
22 |
United States |
20.87% |
23 |
Syria |
20.66% |
24 |
Seychelles |
20.56% |
25 |
Lebanon |
20.53% |
26 |
Congo |
20.52% |
27 |
Iraq |
20.13% |
28 |
Malaysia |
20.13% |
29 |
Rwanda |
19.89% |
30 |
Brazil |
19.74% |
31 |
Philippines |
19.57% |
32 |
Colombia |
19.33% |
33 |
Eswatini |
19.33% |
34 |
Taiwan |
19.33% |
35 |
South Africa |
19.31% |
36 |
Uganda |
19.29% |
37 |
Oman |
19.07% |
38 |
Armenia |
18.97% |
39 |
Kuwait |
18.96% |
40 |
Turkey |
18.78% |
41 |
Bahamas |
18.72% |
42 |
Belize |
18.72% |
43 |
Bolivia |
18.72% |
44 |
Guatemala |
18.72% |
45 |
Guyana |
18.72% |
46 |
Haiti |
18.72% |
47 |
Honduras |
18.72% |
48 |
Jamaica |
18.72% |
49 |
Nicaragua |
18.72% |
50 |
Panama |
18.72% |
51 |
Paraguay |
18.72% |
52 |
Suriname |
18.72% |
53 |
Trinidad and Tobago |
18.72% |
54 |
Thailand |
18.70% |
55 |
Bulgaria |
18.69% |
56 |
Denmark |
18.55% |
57 |
Georgia |
18.53% |
58 |
Turkmenistan |
18.40% |
59 |
Tanzania |
18.15% |
60 |
Bhutan |
18.08% |
61 |
Egypt |
18.08% |
62 |
Iran |
18.07% |
63 |
Papua New Guinea |
18.06% |
64 |
Hong Kong |
17.85% |
65 |
East Timor |
17.59% |
66 |
Uzbekistan |
17.44% |
67 |
Palestine |
17.42% |
68 |
Equatorial Guinea |
17.37% |
69 |
Laos |
17.06% |
70 |
Jordan |
17.05% |
71 |
Uruguay |
17.00% |
72 |
Niger |
16.57% |
73 |
Vietnam |
16.42% |
74 |
Afghanistan |
16.22% |
75 |
Israel |
16.04% |
76 |
Azerbaijan |
15.89% |
77 |
Mauritius |
15.89% |
78 |
Djibouti |
15.86% |
79 |
Cameroon |
15.85% |
80 |
Pakistan |
15.73% |
81 |
China |
15.72% |
82 |
Kyrgyzstan |
15.58% |
83 |
Burkina Faso |
15.56% |
84 |
South Sudan |
15.53% |
85 |
Sudan |
15.36% |
86 |
United Arab Emirates |
15.31% |
87 |
Dominican Republic |
15.27% |
88 |
Ghana |
15.23% |
89 |
Kenya |
15.19% |
90 |
Ireland |
15.18% |
91 |
Madagascar |
15.17% |
92 |
Morocco |
15.14% |
93 |
Malawi |
15.02% |
94 |
Sierra Leone |
15.02% |
95 |
Cuba |
14.91% |
96 |
Mongolia |
14.84% |
97 |
Togo |
14.84% |
98 |
Indonesia |
14.79% |
99 |
Sri Lanka |
14.77% |
100 |
Burundi |
14.74% |
101 |
Democratic Republic of Congo |
14.63% |
102 |
Lesotho |
14.46% |
103 |
Ecuador |
14.36% |
104 |
Senegal |
14.33% |
105 |
Estonia |
14.27% |
106 |
Comoros |
14.15% |
107 |
Benin |
14.03% |
108 |
Cape Verde |
13.91% |
109 |
Greece |
13.84% |
110 |
Eritrea |
13.82% |
111 |
Ethiopia |
13.82% |
112 |
Chad |
13.77% |
113 |
Gambia |
13.61% |
114 |
Ukraine |
13.60% |
115 |
Italy |
13.55% |
116 |
Libya |
13.46% |
117 |
Argentina |
13.42% |
118 |
Sweden |
13.28% |
119 |
Japan |
12.86% |
120 |
France |
12.69% |
121 |
El Salvador |
12.58% |
122 |
Brunei |
12.44% |
123 |
Somalia |
12.44% |
124 |
Liberia |
12.20% |
125 |
Tajikistan |
12.06% |
126 |
Guinea-Bissau |
11.96% |
127 |
North Korea |
11.88% |
128 |
Mali |
11.83% |
129 |
Lithuania |
11.81% |
130 |
Bangladesh |
11.64% |
131 |
New Zealand |
11.60% |
132 |
Nigeria |
11.59% |
133 |
Gabon |
11.02% |
134 |
Switzerland |
10.91% |
135 |
Tunisia |
10.91% |
136 |
Mauritania |
10.75% |
137 |
Austria |
10.72% |
138 |
Kazakhstan |
10.64% |
139 |
Finland |
10.62% |
140 |
Canada |
10.59% |
141 |
South Korea |
10.48% |
142 |
Poland |
10.41% |
143 |
Hungary |
10.35% |
144 |
Serbia |
10.32% |
145 |
Singapore |
10.27% |
146 |
Germany |
10.26% |
147 |
United Kingdom |
10.19% |
148 |
Romania |
10.04% |
149 |
Spain |
10.02% |
150 |
Netherlands |
10.00% |
151 |
Algeria |
9.91% |
152 |
Australia |
9.91% |
153 |
Portugal |
9.82% |
154 |
Moldova |
9.77% |
155 |
Nepal |
9.69% |
156 |
Latvia |
9.58% |
157 |
Iceland |
9.52% |
158 |
Bosnia and Herzegovina |
9.44% |
159 |
Malta |
9.33% |
160 |
Luxembourg |
8.95% |
161 |
Sao Tome and Principe |
8.95% |
162 |
Slovenia |
8.75% |
163 |
Cyprus |
8.74% |
164 |
Belarus |
8.66% |
165 |
Croatia |
8.66% |
166 |
Guinea |
8.63% |
167 |
Kosovo |
8.35% |
168 |
Albania |
8.33% |
169 |
Macao |
8.21% |
170 |
Montenegro |
8.04% |
171 |
Czechia |
7.61% |
172 |
Belgium |
7.45% |
173 |
North Macedonia |
7.45% |
174 |
Slovakia |
7.07% |
175 |
Norway |
6.87% |
The Top 10 Countries in the World With the Highest Income Share of the Richest 0.1% of the Population
Rank |
Country |
Share of Income of the Richest 0.1% |
1 |
Maldives |
23.05% |
2 |
Myanmar |
13.51% |
3 |
Mozambique |
13.31% |
4 |
Central African Republic |
13.17% |
5 |
Cambodia |
11.65% |
6 |
Angola |
11.23% |
7 |
United States |
9.97% |
8 |
Russia |
9.83% |
9 |
India |
9.58% |
10 |
Denmark |
9.23% |
Sources:
Our World in Data – Economic Inequality (https://ourworldindata.org/economic-inequality)
World Inequality Database (https://wid.world/)
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