Shares of wealth
What does this chart show?
The piechart looks at total wealth in London (some £1.8 trillion); split into the bottom 20% of the population and then each subsequent 10% of households. Total wealth here includes financial, property, physical and pension wealth. The bottom 10% of households in London has negative wealth, meaning their liabilities outweigh their assets. Even combined with the next 10% of households in London, they own only 0.1% of London’s total wealth. The bottom half combined own only 5.3% of total wealth in London. In contrast, the top 10% of households own over half of London’s wealth at 52%. The top 20% own 70% of London’s wealth.
Wealth ownership in London is much more unevenly distributed than income. One way of looking at this is through the Gini coefficient, a summary statistic which measures the level of inequality across the population. The statistic is between 0 (a completely equal population – everyone with the same level of wealth in this case) and 1 (complete inequality – one person with all wealth). In other words, the higher the Gini coefficient, the higher the level of inequality. The Gini coefficient for wealth in London is 0.67, compared with 0.61 in Great Britain as a whole. The Gini coefficient for income in London is 0.37, much lower.