One out of every 200 people on the planet makes more than a million dollars a year. That’s one half of one percent of the world population.
That unsubstantiated statistic struck me as dubious. A quick Google search revealed that only about 12 million people in the world have an overall net worth of at least $1 million (that's fewer than 2 people out of every thousand). I would imagine that the majority of people making $1 million per year are likely to have a net worth greater than $1 million. For what James Touchi-Peters claims to be true, wouldn't it imply that the majority of high earners are spending/losing the majority of their income each year?
Does one out of every 200 people on the planet make at least $1 million USD per year?