UBS's annual Global Wealth 2024 report shows that The overall level of wealth in Greece has fallen by 11% over the past 15 years, and median wealth, a measure of wealth distribution, fell by 31%.
The decline reflects growing economic inequality, as the richest Greeks now own a larger share of total wealth.
According to the report, the richest 10% of Greeks own 55.1% of the total wealth, while 50% of the population, or about 5 million people, own only 1.2% of the country's wealth! Growing inequality is also reflected in the number of millionaires, of which there are 79,000.
The report also noted that the average value of assets per adult in Greece is $59,348, while the median value is $26,416 per adult.
Worryingly, inequality in Greece has been steadily increasing as the rich accumulate more wealth. The rich get richer, the poor get poorer.
The laws of social development show that such societies are unstable, since as the difference in wealth increases, social tensions grow in them, which usually lead to revolutions or coups d'état, after which there is a redistribution of national wealth between the winners.
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