Cate Blanchett, whose net worth is estimated at A$140 million, has described herself as “middle class” – unwittingly unleashing a furore.
How could someone in a highly powerful, elite echelon of society who owns multiple properties across Australia and the UK claim to be middle class, especially at a time when the wealth gap between “the top” and “the bottom” has become so stark?
Recent 2024 research shows that in Australia, nearly half of all wealth is held by the top 10% of households – who hold 15 times the wealth of the lowest 60%.
