10% of NZers own 53% of the wealth

Blessed are the rich millennials for they shall inherit the earth – that’s if researcher Max Rashbrooke’s new book is ­anything to go by.

In a project with Statistics New Zealand, the data, which looked at people’s wealth between 2004 and 2010, has yielded grim ­results, says Rashbrooke.

The wealthiest 1 per cent of the country – about 34,000 adults – have nearly a fifth of all the wealth (18.1 per cent). The wealthiest 10 per cent – about 340,000 adults – have more than half (53.4 per cent).

The poorest half of the country – about 1.7 million adults – have only 3.8 per cent.
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