Report: 110 people own 35% of Russia's wealth

A staggering 35% of household wealth in Russia is owned by just 110 people, the highest level of inequality in the world barring a few small Caribbean islands, a report by a major investment bank says.


By contrast, billionaires worldwide account for just 1-2 percent of total wealth, Credit Suisse said in its report published Wednesday. The 35% of wealth that Russian billionaires own is equivalent to $420 billion. (AP)