Who comprises the world’s economic elite? This question, fundamental to understanding the contours of global power, has long fascinated sociologists and economists alike. Recently, an international consortium of researchers has taken a monumental step in answering this inquiry by developing the World Elite Database (WED), a pioneering resource that catalogs over 3,500 individuals from 16 countries. Collectively, these nations represent 54 percent of global GDP and encompass roughly one-third of the world’s population. By aggregating comprehensive data on CEOs, board members of major corporations, the wealthiest individuals, and key economic regulators, the research offers an unprecedented glimpse into the demographic and educational profiles that define global economic power.
At its core, the WED seeks to address how economic elites differ or converge across national contexts. Past research tended to focus on specific countries or narrow definitions of elite groups, but the breadth of this new database enables cross-national comparisons that were previously impossible. By including variables such as age, gender, place of birth, and educational background, the database transcends mere wealth and positional status to examine the social and cultural features that underpin elite identity and continuity. This multi-dimensional approach is critical for unpacking how elites sustain and renew themselves in a rapidly globalizing world economy.
One of the first striking insights from the WED is the striking homogeneity of elite individuals worldwide, despite the geographic and cultural disparities among the countries sampled. Economic elites across these 16 nations tend to exhibit remarkably similar profiles in terms of gender dominance, educational attainment, and age distribution. However, the study also reveals subtle but meaningful national variations that reflect distinct socio-economic histories and institutional arrangements. For example, while economic elites are overwhelmingly male in most countries, the proportion of women within these ranks varies significantly, speaking to the persistent gender inequalities entrenched in corporate and policy-making spheres.
Age is another fascinating dimension wherein notable national differences emerge. The United States boasts the oldest median elite age at 62, reflecting perhaps a longer tenure and slower turnover in positions of power among its top-tier economic individuals. Conversely, China and Poland present the youngest median ages, with a median of 55, and notably a larger cohort of ultra-wealthy individuals under 40. This youthful demographic in China especially could be indicative of the rapid economic expansion and the relatively recent emergence of private wealth, which contrasts with more established elites in Western economies.
Place of birth further distinguishes elites in compelling ways. Nearly half of China’s economic elite were born in small villages, a fact that underscores the country’s rural-urban migration and social mobility narratives in recent decades. The contrast is sharp when compared to countries like the United States, Denmark, Switzerland, and Chile, where a significant share—ranging from 20 to 36 percent—of economic elites were born abroad. The United Kingdom stands out with an extraordinary 45 percent of its economic elite born outside its borders, highlighting its historical role as an imperial center and a magnet for transnational talent.
Delving deeper, the database exposes the lingering legacies of colonial history within elite compositions. The UK’s elite, for instance, includes up to 20 percent of individuals originating from former colonies, a testament to the enduring ties shaped by imperial networks and migration patterns. Such findings provoke questions about how historical globalization continues to shape contemporary elite structures, despite prevailing narratives of national sovereignty and economic independence.
Educational attainment is another lens through which elite distinctions can be discerned. Sweden, for instance, displays a markedly low percentage of economic elites holding doctoral degrees—only 5 percent—compared to Germany, where the figure soars to 35 percent. This disparity reflects differing national valuations of advanced academic credentials in elite recruitment and progression. Countries such as Poland, China, Switzerland, the United States, and Finland follow Germany’s lead to varying extents, revealing a spectrum of elite educational cultures.
The prevalence of master’s degrees as the dominant qualification is nearly universal among economic elites. Yet, exceptions illuminate national educational hierarchies and socio-economic pathways. Argentina, Italy, and the United Kingdom show a tendency toward bachelor’s degrees being the most common, suggesting divergent educational structures or corporate recruitment norms. Moreover, hereditary wealth is consistently associated with the lowest levels of formal education, hinting at the entrenched nature of privilege independent of academic achievement.
For aspiring global elites, the choice of academic discipline carries strategic implications. Economics emerges as the most advantageous field of study across all evaluated nations, except China and Finland, where engineering degrees gain a slight edge. This preference signals the centrality of economic expertise in management, policy influence, and wealth creation within capitalist systems, while the prominence of engineering in specific contexts may reflect industrial or technological priorities.
Distinctive national tendencies in the valuation of humanities and law further enrich the tapestry of elite education. The United Kingdom, Poland, and Switzerland position these degrees as highly prevalent among the top economic actors—representing at least 20 percent of their elite—forging pathways to economic influence through legal and cultural capital. Scandinavia, including Sweden, Denmark, and Norway, contrasts sharply with lower rates of humanities or law representation, indicating alternative elite-making mechanisms and possibly different cultural valuations of these disciplines.
This trove of data not only identifies who holds power but implies how economic elites maintain it and adapt to economic transformations. The WED’s scope facilitates future nuanced inquiries into the dynamics of inclusion, social mobility, and transnational elite networks, particularly as globalization and technological change accelerate. It opens new avenues for investigating the gender gaps perpetuated by elite circles, the impact of birthplace on access to opportunity, and how education shapes different models of economic leadership.
Moreover, by contextualizing wealth and decision-making power through detailed socio-demographic profiling, this research challenges simplistic assumptions about elites as monolithic or static. The heterogeneity found even within overarching similarities suggests that elites are continuously forged by historical legacies, institutional structures, and shifting political economies. The WED is a landmark resource that will empower scholars to unravel these complexities with robust empirical grounding.
This research also carries profound implications beyond academia. Understanding the composition and trajectories of economic elites informs debates about inequality, democratic accountability, and social justice. Policymakers equipped with these insights can better address the mechanisms through which economic power is reproduced or contested, potentially fostering more equitable economic systems. By illuminating the pathways and barriers within elite formation, this study contributes meaningfully to efforts aimed at broadening participation and reducing entrenched disparities.
The World Elite Database embodies a significant methodological advance in elite studies by combining comprehensive individual-level data with cross-national comparative capacity. It transcends prior research limitations—often focused on single countries or conflating elites’ wealth with power—by integrating multidimensional indicators that reveal the intricate anatomy of economic influence. As this database expands and evolves, it promises to be an invaluable tool for researchers, journalists, and policymakers seeking to decode the elusive dynamics of global economic power.
As Professor Håkan Johansson from Lund University, who leads the research network behind the WED, emphasizes, economic elites wield outsized impact on national prosperity, labor conditions, and financial destinies. The unparalleled empirical foundation provided by the WED is poised to spur diverse innovative studies and policy analyses in the years to come, advancing our collective understanding of who shapes the world’s economies and how this power is structured and contested.
Subject of Research: Economic Elites and their Socio-Demographic Characteristics Across 16 Countries
Article Title: Varieties of Economic Elites? Preliminary Results From the World Elite Database (WED)
Web References: http://dx.doi.org/10.1111/1468-4446.13203
Keywords: economic elite, world elite database, socio-demographics, education, globalization, inequality, transnational elites, economic power, economic leadership, social mobility
