A depressing new report from Credit Suisse shows that the world’s richest one per cent are gaining more power as they now hold over half of the planet’s wealth.

The bottom 50 per cent of the world own less than one per cent, leaving an income gap bigger than its ever been in history.

Independent.co.uk reports:

The Global Wealth Report found that to be counted among the world’s wealthiest ten per cent, an individual would need to possess $68,800 (£44,500), while those in the top one per cent would need (£492,000).

The report, which examined wealth in more than 200 countries, also revealed that for the first time, the middle class in China – with 109 million adults – became the world’s largest, overtaking the US which has 92 million adults in the same category.