Inequality

‘Inequality crisis’ threatens democracy, experts warn G20

WEALTH inequality is a global emergency that threatens democracy and social cohesion, experts warned on Tuesday, urging G20 leaders meeting in South Africa this month to establish a panel to tackle th...

Even as Singapore addresses pressing social issues, it must also transform its education system to prepare the next generation for the challenges of the future, says Education Minister Desmond Lee.

Government to involve community more in tackling inequality, unlike old ‘silo’ approach: Desmond Lee

Vulnerable families to get ‘more comprehensive, wraparound support’, including help with housing

Enhancing social mobility is part of the government’s commitment to the next generation, says PM Wong.

Singapore must prepare for ‘more churn’, as company failures are part of ecosystem renewal: PM Wong

The process will be ‘uncomfortable, even unsettling’, but necessary to create value

Elon Musk (above), judged the world’s richest person in April 2025, has an estimated net worth of US$342 billion. Globally, the average wealth of the top 0.0001% of the population grew on average 7.1% a year between 1987 and 2024, compared to 3.2% for the average adult, according to Gabriel Zucman of the Paris School of Economics and UC Berkeley.
THE BROAD VIEW

The problem with taxing the rich

Fiscal systems designed around income and consumption struggle to capture wealth, and billionaires are highly mobile

Sweden has 45 billionaires, about 1.5 times more per capita than the US, which is often said to be enjoying a new gilded age.
THE BOTTOM LINE

Sweden: a socialist paradise overflowing with billionaires

The country is generating the kind of wealth that raises the risk of an anti-capitalist revolt

In 2023, wealth around the world grew 4.2 per cent in US dollar terms, reversing from the 3 per cent contraction in 2022 that was largely attributed to a strong US dollar, according to UBS' Wealth Report 2024.

Singapore average wealth continues uptrend as inequality surpasses several regional peers: UBS report

Number of millionaires in the Republic expected to grow 13% by 2028; Gini coefficient hits 70 in 2023, surpassing levels in several markets in the region

Two female employees claim that Apple determined starting salaries before 2018 by asking employees for their compensation history and that this practice “perpetuated historic pay disparities between men and women.”

Apple sued by female employees claiming pay discrimination

APPLE was sued by two female employees who claim it “systemically” pays women less than their male counterparts for similar work, and who are seeking to represent thousands of other women facing the s...

Some of Britain’s top financial firms pay women 28.8 per cent less on average than male counterparts, according to salary data from 21 companies reviewed by Reuters last month.

Fewer top women earners in British finance since pandemic: report

WOMEN make up a smaller proportion of top earners in British financial and professional services than before the Covid-19 pandemic, research from the London School of Economics and Political Science (...

The global study - the most comprehensive of its kind to date - found that trade and finance-driven initiatives had made “limited” progress halting deforestation and in some cases worsened economic inequality.

Market-based schemes not reducing deforestation, poverty: report

MARKET-BASED approaches to forest conservation like carbon offsets and deforestation-free certification schemes have largely failed to protect trees or alleviate poverty, according to a major scientif...

US households have added US$37 trillion in wealth in the past four years, but the distribution has become more concentrated among the very rich – the top 0.1 per cent.

Top 0.1% saw their share of US wealth rise, even as rest of 10% didn’t

VIRTUALLY all Americans have become wealthier since the pandemic. But as the overall pie has grown, the slice for a group of affluent households is shrinking.