Chapter

The rich, the richer and the richest

Karen Rowlingson and Stephen Mckay

in Wealth and the Wealthy

Published by Policy Press

Published in print December 2011 | ISBN: 9781847423085
Published online May 2012 | e-ISBN: 9781447305620 | DOI: http://dx.doi.org/10.1332/policypress/9781847423085.003.0005
The rich, the richer and the richest

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When looking at the wealthy, this chapter divides this group into the ‘rich’, the ‘richer’ and the ‘richest’. Their ‘rich’ group comprises the most affluent 10 per cent by income and by assets. This group appear quite distinct from other groups in terms of their levels of income and assets, and in their characteristics and lifestyles. Most people in this group would probably not see themselves as rich, as they do not realise how far above the average they are. The ‘richer’ group comprise the top 1 per cent, and this group are more likely to appreciate their privileged position. They have certainly seen their income and wealth grow faster than other groups in recent years. The ‘richest’ group are the top 1,000, and the authors show how their wealth decreased in 2009 but recovered again by 2011.

Keywords: rich; super rich; philanthropy; richest

Chapter.  11684 words.  Illustrated.

Subjects: Social Stratification, Inequality, and Mobility

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