Wealth inequality refers to the unequal distribution of assets among individuals, groups or organisations within a society or country. This challenge is not only about financial resources but also about the lack of social capital1, which provides access to networks and opportunities essential for leading a dignified life. The issue is multi-faceted. A range of factors lead to the uneven distribution of opportunities, income, and wealth globally. This often creates instability and resentment impacting all levels of society.
The complexity derives from having multiple interrelated causes amplifying each other. Limited access to education, insufficient healthcare, or poor-quality housing can constrain people’s financial opportunities, which in turn diminishes abilities to thrive. When we make a global, interconnected effort to work together and bridge our differences, we can rebuild the social fabric of our society, creating a world marked by collaboration, shared responsibility and accountability.
The Julius Baer Foundation strategically supports projects that help counterbalance the wealth divide and build trust between all groups in society. Working with pioneers in the field of wealth inequality, the Foundation also promotes initiatives that go beyond poverty reduction by bringing together all stakeholders to create mutually beneficial partnerships.
Our approach
Sensitive to the consequences of a polarised society, the Julius Baer Foundation believes that bringing together individuals, groups and organisations across the wealth spectrum fosters mutual understanding. We encourage collaboration and exchange, and we support the development of partnership-based initiatives focused on social mobility and equal opportunities. The Foundation in particular values non-charitable and productive partnerships that go beyond mere monetary donations. This means that the project participants of these initiatives are directly involved in enabling social mobility and that the emphasis is on sharing structural resources that reduce wealth inequality.
Wealth Inequality Initiative
The Julius Baer Foundation aims to convene leading thinkers and actors on wealth inequality. In 2021, it created ‘The Wealth Inequality Initiative’, which is designed to raise awareness and to advance the international dialogue on wealth inequality. At www.wealth-inequality.net we bring together experts, key players and actors in the field to share their expertise, showcase their projects, and provide a glossary that helps to understand the terms linked to wealth inequality. Through a multi-stakeholder approach, we aspire to win broad support for this quest, raising awareness on the issue of wealth inequality, and driving action to reduce it.
1 Social capital can be understood as the assets, resources and benefits obtained from having networks and social interactions between individuals and groups (Putnam, 1995; Adler & Kwon, 2002; Claridge, 2004; Reyes et al., 2018)