Who Are the Global Top 1

•We combine household survey and top income data to analyse the global top 1% from 1988 to 2012.•Advanced economies accounted for 85–88% of the global top 1% in 1988–2005, falling to 77% in 2012.•There was a decline in global inequality from 2005 to 2012.•Global wealth data show rising participation of emerging economies in the global elite.•Senior executives in emerging economies are in or close to the global top 1%.