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# Video: How Much Money Have Humans Created?

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The Money Project is an ongoing collaboration between Visual Capitalist and Texas Precious Metals that seeks to use intuitive visualizations to explore the origins, nature, and use of money.

## How Much Money Have Humans Created?

The dollar amounts are so staggering, that simply telling you how much money humans have created probably wouldn’t convey the magnitude.

However, by using data visualization in this video, we can relate numbers in the millions, billions, and trillions to create the context to make it more understandable.

## Starting With Context

The median U.S. household income of \$54,000 is a number that most people can relate to. It’s enough money to save up to buy a car, or maybe even a house depending on where you live.

Multiply that income by eight, and that number is now big enough to count as being in the top 1% of earners. People in the “one percent” make at least \$430,000 per year.

Famous celebrities and businesspeople have fortunes that dwarf those of many “one percenters”. Actor George Clooney, for example, has a net worth of \$180 million. Meanwhile, author J.K. Rowling is estimated to have a net worth of roughly \$1 billion according to Forbes.

Zuckerberg takes things to a whole new level. His net worth worth is \$53 billion, thanks to the value of Facebook stock. Lastly, Bill Gates regularly tops the “richest people” lists with a wealth of \$75 billion – though lately that number has been a little higher based on stock fluctuations.

However, even the wealth of the richest human on Earth is not enough to get up to our unit of measurement that we use in the video: each square is equal to \$100 billion.

## The World’s Money

Some of the world’s biggest companies take up just a few squares with our unit of measurement. ExxonMobil for example has a market capitalization of about \$350 billion, and the world’s largest public company by market capitalization, Apple, is at about \$600 billion.

The total of the world’s physical currency – all coins and bills denominated in dollars, euros, yen, and other currencies – is about \$5 trillion.

Meanwhile, if we add checking accounts to the equation, the number for the amount of money in the world goes up to \$28.6 trillion according to the CIA World Factbook. This is called “narrow money”.

Add all money market, savings, and time deposits, and the number jumps up to \$80.9 trillion – or “broad money”.

But that’s nothing compared to the world of Wall Street.

## Wall Street

All stock markets added together are worth \$70 trillion, and global debt is \$199 trillion.

That’s all impressive, but the derivatives market takes the cake. Derivatives are contracts between parties that derive value from the performance of underlying assets, indices, or entities. On the low end, the notional value of the derivatives market is estimated to be a whopping \$630 trillion according to the Bank of International Settlements.

However, that only accounts for OTC (over-the-counter) derivatives, and the truth is that no one actually knows the size of the derivatives market. It’s been estimated by some that it could be as high as \$1.2 quadrillion, and others estimate it could be even higher.

There are many financial critics who worry about the risk that these contracts pile onto the global financial system. With the sheer size of the derivative market dwarfing all others, it’s understandable why business mogul Warren Buffett has called derivatives “financial weapons of mass destruction”.

The Money Project aims to use intuitive visualizations to explore ideas around the very concept of money itself. Founded in 2015 by Visual Capitalist and Texas Precious Metals, the Money Project will look at the evolving nature of money, and will try to answer the difficult questions that prevent us from truly understanding the role that money plays in finance, investments, and accumulating wealth.

# Mapped: GDP per Capita Worldwide

GDP per capita is one of the best measures of a country’s standard of living. This map showcases the GDP per capita in every country globally.

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# Mapped: Visualizing GDP per Capita Worldwide

View the high-resolution of the infographic by clicking here.

GDP per capita has steadily risen globally over time, and in tandem, the standard of living worldwide has increased immensely.

This map using data from the IMF shows the GDP per capita (nominal) of nearly every country and territory in the world.

GDP per capita is one of the best measures of a country’s wealth as it provides an understanding of how each country’s citizens live on average, showing a representation of the quantity of goods and services created per person.

## The Standard of Living Over Time

Looking at history, our standard of living has increased drastically. According to Our World in Data, from 1820 to 2018, the average global GDP per capita increased by almost 15x.

Literacy rates, access to vaccines, and basic education have also improved our quality of life, while things like child mortality rates and poverty have all decreased.

For example, in 1990, 1.9 billion people lived in extreme poverty, which was 36% of the world’s population at the time. Over the last 30 years, the number has been steadily decreasing — by 2030, an estimated 479 million people will be living in extreme poverty, which according to UN population estimates, will represent only 6% of the population.

That said, economic inequality between different regions is still prevalent. In fact, the richest country today (in terms of nominal GDP per capita), Luxembourg, is over 471x more wealthy than the poorest, Burundi.

Here’s a look at the 10 countries with the highest GDP per capita in 2021:

However, not all citizens in Luxembourg are extremely wealthy. In fact:

• 29% of people spend over 40% of their income on housing costs
• 31% would be at risk of falling into poverty if they had to forgo 3 months of income

The cost of living is expensive in Luxembourg — but the standard of living in terms of goods and services produced is the highest in the world. Additionally, only 4% of the population reports low life satisfaction.

## Emerging Economies and Developing Countries

Although we have never lived in a more prosperous period, and poverty rates have been declining overall, this year global extreme poverty rose for the first time in over two decades.

About 120 million additional people are living in poverty as a result of the pandemic, with the total expected to rise to about 150 million by the end of 2021.

Many of the poorest countries in the world are also considered Least Developed Countries (LDCs) by the UN. In these countries, more than 75% of the population live below the poverty line.

Here’s a look at the 10 countries with the lowest GDP per capita:

Life in these countries offers a stark contrast compared to the top 10. Here’s a glance at the quality of life in the poorest country, Burundi:

• 80% of the population works in agriculture
• 1 in 3 Burundians are in need of urgent humanitarian assistance
• Average households spend up to two-thirds of their income on food

However, many of the world’s poorest countries can also be classified as emerging markets with immense economic potential in the future.

In fact, China has seen the opportunity in emerging economies. Their confidence in these regions is best exemplified in the Belt and Road initiative which has funneled massive investments into infrastructure projects across multiple African countries.

## Continually Raising the Bar

Prosperity is a very recent reality only characterizing the last couple hundred years. In pre-modern societies, the average person was living in conditions that would be considered extreme poverty by today’s standards.

Overall, the standard of living for everyone today is immensely improved compared to even recent history, and some countries will be experiencing rapid economic growth in the future.

## GDP per Capita in 2021: Full Dataset

CountryGDP per Capita (Nominal, 2021, USD)
🇱🇺 Luxembourg\$125,923
🇮🇪 Ireland\$90,478
🇨🇭 Switzerland\$90,358
🇳🇴 Norway\$76,408
🇺🇸 United States\$66,144
🇩🇰 Denmark\$63,645
🇸🇬 Singapore\$62,113
🇮🇸 Iceland\$58,371
🇳🇱 Netherlands\$58,029
🇸🇪 Sweden\$57,660
Australia\$57,211
Qatar\$55,417
Austria\$54,820
Finland\$54,817
Germany\$51,967
Belgium\$50,051
Macao SAR\$48,207
Hong Kong SAR\$47,990
France\$44,770
San Marino\$44,676
Israel\$43,439
United Kingdom\$42,236
New Zealand\$41,793
Japan\$40,733
Italy\$35,062
United Arab Emirates\$32,686
South Korea\$32,305
Malta\$32,099
The Bahamas\$31,532
Puerto Rico\$31,207
Spain\$31,178
Europe\$31,022
Cyprus\$29,686
Taiwan \$28,890
Slovenia\$28,734
Estonia\$26,378
Brunei \$26,274
Czech Republic\$25,991
Portugal\$25,097
Bahrain\$23,710
Kuwait\$23,138
Lithuania\$22,752
Aruba\$22,710
Slovakia\$21,606
Saudi Arabia\$20,742
Greece\$20,521
Latvia\$19,934
Hungary\$17,645
Poland\$16,740
Saint Kitts and Nevis\$16,491
Croatia\$16,402
Uruguay\$16,297
Romania\$14,916
Antigua and Barbuda\$14,748
Oman\$14,675
Panama\$14,390
Chile\$14,209
Maldives\$14,194
Palau\$13,180
Seychelles\$12,648
Costa Rica\$11,805
China\$11,713
Malaysia\$11,378
Bulgaria\$11,349
Russia\$10,793
Saint Lucia\$10,636
Guyana\$9,913
Nauru\$9,865
Mauritius\$9,630
Kazakhstan\$9,454
Montenegro\$9,152
Argentina\$9,095
Turkmenistan\$8,874
Serbia\$8,444
Mexico\$8,403
Dominica\$8,111
Equatorial Guinea\$8,000
Gabon\$7,785
Dominican Republic\$7,740
Thailand\$7,675
Iran\$7,668
Turkey\$7,659
Botswana\$7,036
North Macedonia \$6,933
Brazil\$6,728
Bosnia and Herzegovina\$6,536
Belarus\$6,513
Peru\$6,229
Jamaica\$5,643
Colombia\$5,457
South Africa\$5,236
Paraguay\$5,207
Albania\$5,161
Tonga\$4,949
Suriname\$4,921
Fiji\$4,822
Iraq\$4,767
Kosovo\$4,753
Libya\$4,733
Georgia\$4,714
Moldova\$4,527
Armenia\$4,427
Namibia\$4,412
Azerbaijan\$4,404
Guatemala\$4,385
Jordan\$4,347
Tuvalu\$4,296
Indonesia\$4,287
Mongolia\$4,139
Marshall Islands\$4,092
Samoa\$4,053
Micronesia\$3,995
Belize\$3,968
Sri Lanka\$3,928
Vietnam\$3,759
Eswatini\$3,697
Cabo Verde\$3,675
Bolivia\$3,618
Ukraine\$3,615
Egypt\$3,606
Philippines\$3,602
North Africa\$3,560
Algeria\$3,449
Bhutan\$3,447
Morocco\$3,409
Tunisia\$3,380
Djibouti\$3,275
West Bank and Gaza\$3,060
Vanuatu\$2,967
Laos\$2,614
Papua New Guinea\$2,596
Honduras\$2,593
Côte d'Ivoire\$2,571
Solomon Islands\$2,501
Ghana\$2,300
Republic of Congo\$2,271
Nigeria\$2,209
São Tomé and Príncipe\$2,133
Angola\$2,130
Kenya\$2,122
India\$2,031
Uzbekistan\$1,836
Nicaragua\$1,828
Kiribati\$1,817
Mauritania\$1,782
Cambodia\$1,680
Cameroon\$1,657
Senegal\$1,629
Venezuela\$1,586
Myanmar\$1,441
Comoros\$1,431
Benin\$1,400
Timor-Leste\$1,273
Kyrgyzstan\$1,270
Nepal\$1,166
Tanzania\$1,132
Guinea\$1,067
Lesotho\$1,018
Zambia\$1,006
Mali\$992
Uganda\$971
Ethiopia\$918
Tajikistan\$851
Burkina Faso\$851
Guinea-Bissau\$844
Rwanda\$820
The Gambia\$809
Togo\$759
Sudan\$714
Haiti\$698
Liberia\$646
Eritrea\$632
Yemen\$573
Niger\$567
Central African Republic\$522
Zimbabwe\$516
Afghanistan\$506
Democratic Republic of the Congo\$478
Sierra Leone\$471
Mozambique\$431
Malawi\$397
South Sudan\$323
Burundi\$267

Editor’s note: Readers have rightly pointed out that Monaco is one of the world’s richest countries in GDP per capita (nominal) terms. This is true, but the IMF dataset excludes Monaco and lists it as “No data” each year. As a result, it is excluded from the visualization(s) above.

# Ranked: The Most Innovative Companies in 2021

In today’s fast-paced market, companies have to be innovative constantly. Here’s a look at the top 50 most innovative companies in 2021.

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# Ranked: the Top 50 Most Innovative Companies in 2021

This year has been rife with pandemic-induced changes that have shifted corporate priorities—and yet, innovation has remained a top concern among corporations worldwide.

Using data from the annual ranking done by Boston Consulting Group (BCG) using a poll of 1,600 global innovation professionals, this graphic ranks the top 50 most innovative companies in 2021.

We’ll dig into a few of the leading companies, along with their innovative practices, below.

## Most Innovative Companies: A Breakdown of the Leaderboard

To create the top 50 innovative company ranking, BCG uses four variables:

• Global “Mindshare”: The number of votes from all innovation executives.
• Industry Peer Review: The number of votes from executives in a company’s industry.
• Industry Disruption: A diversity index to measure votes across industries.
• Value Creation: Total share return.

For the second year in a row, Apple claims the top spot on this list. Here’s a look at the full ranking for 2021:

CompanyIndustryHQChange from 2020
1AppleTechnology🇺🇸 U.S.--
2AlphabetTechnology🇺🇸 U.S.--
3AmazonConsumer Goods🇺🇸 U.S.--
4MicrosoftTechnology🇺🇸 U.S.--
5TeslaTransport & Energy🇺🇸 U.S.+6
6SamsungTechnology🇰🇷 South Korea-1
7IBMTechnology🇺🇸 U.S.+1
8HuaweiTechnology🇨🇳 China-2
9SonyConsumer Goods🇯🇵 Japan--
10PfizerHealthcare🇺🇸 U.S.Return
11SiemensTechnology🇩🇪 Germany+10
12LG ElectronicsConsumer Goods🇰🇷 South Korea+6
14AlibabaConsumer Goods🇨🇳 China-7
15OracleTechnology🇺🇸 U.S.+10
16DellTechnology🇺🇸 U.S.+4
17Cisco SystemsTechnology🇺🇸 U.S.-5
18TargetConsumer Goods🇺🇸 U.S.+4
19HP Inc.Technology🇺🇸 U.S.-4
20Johnson & JohnsonHealthcare🇺🇸 U.S.+6
21ToyotaTransport & Energy🇯🇵 Japan+20
22SalesforceTechnology🇺🇸 U.S.+13
23WalmartConsumer Goods🇺🇸 U.S.-10
24NikeConsumer Goods🇺🇸 U.S.-8
25LenovoTechnology🇭🇰 Hong Kong SARReturn
26TencentConsumer Goods🇨🇳 China-12
27Procter & GambleConsumer Goods🇺🇸 U.S.+12
28Coca-ColaConsumer Goods🇺🇸 U.S.+20
29Abbott LabsHealthcare🇺🇸 U.S.New
30BoschTransport & Energy🇩🇪 Germany+3
31XiaomiTechnology🇨🇳 China-7
32IkeaConsumer Goods🇳🇱 NetherlandsReturn
33Fast RetailingConsumer Goods🇯🇵 JapanReturn
35Merck & Co.Healthcare🇺🇸 U.S.Return
36NovartisHealthcare🇨🇭 Switzerland+11
37EbayConsumer Goods🇺🇸 U.S.Return
38PepsiCoConsumer Goods🇺🇸 U.S.Return
39HyundaiTransport & Energy🇰🇷 South KoreaReturn
40SAPTechnology🇩🇪 Germany-13
41InditexConsumer Goods🇪🇸 SpainReturn
42ModernaHealthcare🇺🇸 U.S.New
43PhilipsHealthcare🇳🇱 Netherlands-20
44DisneyMedia & Telecomms🇺🇸 U.S.Return
45MitsubishiTransport & Energy🇯🇵 JapanNew
46ComcastMedia & Telecomms🇺🇸 U.S.New
47GETransport & Energy🇺🇸 U.S.Return
48RocheHealthcare🇨🇭 SwitzerlandReturn
49AstraZenecaHealthcare🇬🇧 UKNew
50BayerHealthcare🇩🇪 Germany-12

One company worth touching on is Pfizer, a returnee from previous years that ranked 10th in this year’s ranking. It’s no surprise that Pfizer made the list, considering its instrumental role in the fight against COVID-19. In partnership with BioNTech, Pfizer produced a COVID-19 vaccine in less than a year. This is impressive considering that, historically, vaccine development could take up to a decade to complete.

Pfizer is just one of four COVID-19 vaccine producers to appear on the list this year—Moderna, Johnson & Johnson, and AstraZeneca also made the cut.

Meanwhile, in a completely different industry, Toyota snagged the 21st spot on this year’s list, up 20 places compared to the rankings in the previous year. This massive jump can be signified by the company’s recent \$400 million investment into a company set to build flying electric cars.

While we often think of R&D and innovation as being synonymous, the former is just one innovation technique that’s helped companies earn a spot on the list. Other companies have innovated in different ways, like streamlining processes to increase efficiency.

For instance, in 2021, Coca-Cola performed an analysis of their beverage portfolio and ended up cutting their brand list in half, from 400 to 200 global brands. This ability to pare down and pivot could be a reason behind its 20 rank increase from 2020.

## Innovation Creates Value

As this year’s ranking indicates, innovation comes in many forms. But, while there’s no one-size-fits-all approach, there is one fairly consistent innovation trend—the link between innovation and value.

In fact, according to historical data from BCG, the correlation between value and innovation has grown even stronger over the last two decades.

For example, in 2020, a portfolio that was theoretically invested in BCG’s most innovative companies would have performed 17% better than the MSCI World Index—which wasn’t the case back in 2005.

And yet, despite innovation’s value, many companies can’t reap the benefits that innovation offers because they aren’t ready to scale their innovative practices.

BCG uses several metrics to gauge a company’s “innovation readiness,” such as the strength of its talent and culture, its organization ecosystems, and its ability to track performance.

According to BCG’s analysis, only 20% of companies surveyed were ready to scale on innovation.

What’s holding companies back from reaching their innovation potential? The most significant gap seems to be in what BCG calls innovation practices—things like project management or the ability to execute an idea that’s both efficient and consistent with an overarching strategy.

To overcome this obstacle, BCG says companies need to foster a “one-team mentality” to increase interdepartmental collaboration and align team incentives, so everyone is working towards the same goal.

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