world richest would be more rich but other people are poorer

1. Global Assets, Global debt and Global Billionaires 2017
By: Gholamhossein Davani
Associated Member of New York State Society of Certified Public
Accountants(NYSSCPA)
According to Credit Suisse report and IMF special report those are supported by
several special reports global assets in 2017 has increased to $ 280.289 Billion. On
the other hand Global total debt has increased to $233,453 Billion. Research
shows total debt has jumped from $50 Billion (1997) to $233,453 Billion (2017).
On the other hand there are just eight men who collectively own as much wealth
as the poorest half of the global population.
Oxfam warns that the gap between the super-rich and the very poor has widened
greatly in the space of a year. In 2016, it was the world’s 62 richest people whose
combined wealth equated that of the poorest 3.6 billion on the planet.The total
global world assets are about $280,289 Billion against global total debt were
about $233,453 Billion those comparison in selected countries are as:
Rank Country
Total
Wealth
$B-USD
Wealth per
adult
USD
RankCountry Total
Wealth
$B-USD
Wealth
per
adult
USD
1
United
States
93,560 388,585
6
France 12,969 263,399
2 China 29,000 26,872 7 Italy 10,853 223,572

2. Rank Country
Total
Wealth
$B-USD
Wealth per
adult
USD
RankCountry Total
Wealth
$B-USD
Wealth
per
adult
USD
3 Japan 23,682 225,057 8 Canada 7,407 259,271
4
United
Kingdom
14,073 278,038
9 Australi
a
7,329 402,603
5 Germany 13,714 203,946
10 South
Korea
6,586 160,609
Meanwhile review of Credit Suisse report shows median wealth per adult in
selected 12 countries 2017 are as follow:
No. Country Median wealth NoCountry Median Wealth
1 Iceland $444,999 7 Norway $130,543
2 Switzerland $229,059 8 Italy $124,636
3 Australia $225,337 9 Japan $123,724
4 Luxembourg $167,664 10 France $119,720
5 Belgium $161,589 11 Singapore $108,850
6 New Zealand $147,593 12 UK $102,641
According to the IIF those summary are in below table $68 trillion, the largest
chunk, belongs to non-financial companies despite financial institutions have $58
trillion of borrowings and governments debt around the world have $63 trillion
and finally there are households, with total debt of $44 trillion.
Comparison world total debts in 1997, 2007 and 2017 are as follow:
Des 1997 2007 2017

3. Total global
debt($TR)
50 162 233
Total global
assets($TR)
120 223 280
Government debt 19 33 63
Financial sector 14 53 58
Non-Financial
sector
22 42 68
Households debt 15 34 44
Statics confirmed US hasn’t posted an annual budget surplus since 2001, when
the federal debt was only $6.9 trillion (54% of GDP). Fast forward to today, and
the debt has ballooned to roughly $20 trillion (107% of GDP), which is equal to
31.8% of the world’s sovereign debt nominally. The US just passed $20 trillion in
debt for the first time, while the UK owes £1.9 trillion ($2.5 trillion). Among OECD
countries, Ireland, the US and Italy are next, with $62,687, $61,539, and $58,693

4. respectively. Belgium, at $58,134, is above the OECD average of $50,245 and
Austria, France and Greece all have higher per capita debts than the UK, and their
citizens would have to find almost $50,000 each ($49,975, $49,652 and $47,869
respectively).
Let’s look at the top five “government leaders” in each category those have about
$ 41,565 Billion debt nearly 66% world debt and United states has about 31.8%
world debt.
Rank Countries Debt ($B) % of Global Debt Debt-to-GDP
1 United States $19,947 31.8% 107.1%
2 Japan $11,813 18.8% 239.3%
3 China $4,976 7.9% 44.3%
4 Italy $2,454 3.9% 132.6%
5 France $2,375 3.8% 96.3%
We find external debt 20 countries in 2017 those have largest external debt in as
follow:

5. Rank
Country
External
debt
US Billion
dollars
Per
capita
US
dollars
% of GDP
No. Of
Billionaires
1 USA 19,947 54,426 107.1
533
2 UK 7,852 119,000 283
55
3 France 5,369 82,600 213 39
4 Germany 5,141 62,600 148 117
5 Netherlands 4,306 234,000 533 10
6 Luxembourg 4,014 6,733,000 6,731 7
7 Japan 3,516 27,600 74 33
8 Italy 2,324 39,200 126 42
9 Ireland 2,236 471,000 780 8
10 Spain 2,116 44,100 167 25
11 Canada 1,776 48,500 116 39

6. Rank
Country
External
debt
US Billion
dollars
Per
capita
US
dollars
% of GDP
No. Of
Billionaires
12 Switzerland 1,738 205,000 265 35
13 China 1,563 1,100 13 318
14
Hong Kong
1,499 203,000 414
69
15 Australia 1,488 60,800 126 32
16 Singapore 1,320 231,000 453 21
17 Belgium 1,278 112,000 265 2
18 Sweden 939 94,500 177 31
19 Austria 638 73,100 167 8
20 Norway 623 117,000 169 14
It is wonderful that despite the world debt has increased the number of
billionaires and also millionaires has been increased. For example world debt from
2002 had have been $ 86 TR , 2007 =$149 TR , 2012 =$207 TR and 2017 grow to $
233TR Meanwhile largest country debtors has largest billionaires?! It seems has
special relation to total debt and number of billionaires in every country?!

7. There are 2,043 billionaires in the world, representing a 13% increase from last
year’s tally of 1,810, according to the annual Forbes list 2017. A separate report
released Tuesday of the world’s billionaires painted a different picture. According
to the Wealth-X’s Billionaire Census 2017, the world lost a net of 76 billionaires in
2017, with the total number reaching 2,397. Their combined net worth totaled
$7.4 trillion, Although the ratio of debt-to-gross domestic product fell for the
fourth consecutive quarter as economic growth accelerated. The ratio is now
around 318 percent, 3 percentage points below a high set in the third quarter of
2016, according to the IIF. It is meaning grow rate of debt effect to number of
billionaires