Omari Chenoweth

IDC 201
Dr. Barbour
Dr. Stock
Media Scoop


One person in five who receives university education becomes a millionaire, according
to official figures.Twenty percent of all adults who hold at least one university degree more than
two million people now have wealth totalling at least 1million, data from the Office for National
Statistics show. Almost a tenth of all British adults now own assets property, pensions, savings
and physical objects worth 1million or more. The total number of millionaires in Britain has risen
by 50 percent in four years despite the recent financial crisis. The figures showed a stark gap in
wealth between people with different levels of education. Only three percent of people with no
formal educational qualifications have assets worth more than 1million. The gap in wealth as it
relates to education has widened over time. In 2006 - 07, 16 percent of graduates were asset
millionaires, compared with two percent of people without formal qualifications.

The ONS report on British households investments, property and possessions showed
that total wealth in private hands in the UK stood at 9.5trillion in the two years from 2010 to
2012.
That is more than six times the value of all goods and services produced in the country every
year, and the equivalent of almost 13 years of total government spending.