2025-10-09 04:49:33
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Pop Mart, the Chinese toy brand behind wildly popular collectible figures, has seen its revenues skyrocket in recent years, largely thanks to the breakout success of one quirky character: Labubu.
This graphic shows Pop Mart’s revenue growth from 2018 to 2024 using data from Pop Mart‘s annual reports, along with a 2025 estimate from Pop Mart executive Wang Ning.
Pop Mart’s annual revenue has more than doubled since the release of their Labubu collection in October 2023, and the toy maker expects it to double again in 2025.
The data table below shows Pop Mart’s annual revenues from 2022 to 2024, along with an estimate for 2025 from CEO Wang Ning.
Year | Pop Mart Revenue (millions, USD) |
---|---|
2021 | $707 |
2022 | $669 |
2023 | $887 |
2024 | $1,800 |
2025 (estimate) | $4,200 |
With Pop Mart’s leadership expecting it to be “quite easy” to reach $4.2 billion in revenue in 2025, much of this success for the toy maker is driven by Labubu sales, which have become social media sensations.
Labubu isn’t just another collectible character—it has become a pop culture icon. Videos of fans camping outside Pop Mart stores and unboxing Labubu figures have gone viral across social media platforms.
The secret behind this social media success largely comes from Pop Mart’s blind box model, which doesn’t reveal which type of Labubu is inside until it’s purchased and unboxed.
This pushes the most ardent fans to buy multiple blind boxes until they get their desired Labubu, often accompanied by reaction videos as they open their Labubu boxes to either another disappointment or wild excitement.
To learn more about Pop Mart’s rising business success, check out this graphic which compares its valuation to other toy makers on Voronoi.
2025-10-09 03:05:54
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The Democratic Republic of Congo (DRC) produces roughly three-quarters of the world’s cobalt, it is also among Africa’s most populous nations.
Yet despite this vast mineral wealth, it has the highest extreme poverty rate in the world. Weak governance, armed conflict, and multinational human rights abuses have all contributed to entrenched poverty in the country for decades.
This graphic shows extreme poverty rates by country in 2024, based on data from the World Bank via Our World in Data.
Here are the 30 countries with the highest share of people living on less than $3 per day, adjusted for purchasing power.
Rank | Country | Share of population living below $3 per day (%) |
---|---|---|
1 |
![]() |
85.3 |
2 |
![]() |
82.2 |
3 |
![]() |
75.4 |
4 |
![]() |
74.2 |
5 |
![]() |
71.7 |
6 |
![]() |
71.6 |
7 |
![]() |
60.5 |
8 |
![]() |
59.8 |
9 |
![]() |
49.2 |
10 |
![]() |
46.4 |
11 |
![]() |
42.1 |
12 |
![]() |
39.9 |
13 |
![]() |
39.5 |
14 |
![]() |
38.6 |
15 |
![]() |
36.1 |
16 |
![]() |
34.7 |
17 |
![]() |
27.2 |
18 |
![]() |
26.7 |
19 |
![]() |
25.0 |
20 |
![]() |
22.0 |
21 |
![]() |
20.9 |
22 |
![]() |
19.5 |
23 |
![]() |
17.9 |
24 |
![]() |
17.0 |
25 |
![]() |
16.5 |
26 |
![]() |
11.5 |
27 |
![]() |
10.2 |
28 |
![]() |
9.7 |
29 |
![]() |
8.8 |
30 |
![]() |
8.0 |
Today, Africa is home to eight countries where more than half of the population lives in extreme poverty led by the DRC, Mozambique, and Malawi.
The post-conflict territory of Kosovo, meanwhile, has the highest level of extreme poverty outside of Africa. Across its population of 1.6 million, one in four live under $3 per day.
In Latin America, Honduras faces the highest levels of extreme poverty, ranking 24th globally. While poverty has declined in recent years, it remains the most unequal country in the region.
When it comes to Asia, the Philippines ranks among the poorest, with about 11% of its 110 million population facing extreme poverty. Although the poverty rate has dropped by nearly two-thirds since 1985, many citizens continue to lack reliable access to electricity, clean water, and education.
To learn more about this topic, check out this graphic on poverty rates in America by state.
2025-10-09 01:42:20
See this visualization first on the Voronoi app.
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
From a scrappy garage startup to the world’s most valuable company, Apple’s journey is closely tied to the legacies of its two most influential CEOs: Steve Jobs and Tim Cook.
This visual, created by Made Visual Daily, compares the two eras side by side. It highlights key milestones, product launches, and the company’s market capitalization growth. The data comes from publicly available sources.
Year | CEO | Release | Category | Why it mattered |
---|---|---|---|---|
1998 | Jobs | iMac G3 | Mac | Revived Mac line with all-in-one colorful design |
1999 | Jobs | iBook G3 (Clamshell) | Mac | First consumer laptop with Wi-Fi |
2001 | Jobs | Mac OS X 10.0 (Cheetah) | Software | First major release of Mac OS X |
2001 | Jobs | iPod (1st gen) | Music | “1,000 songs in your pocket” |
2003 | Jobs | iTunes Music Store | Service | Legal per-song downloads at $0.99 |
2006 | Jobs | MacBook Pro (1st gen) | Mac | First Intel-based Mac notebook, replaced PowerBook G4 |
2007 | Jobs | iPhone (1st gen) | iPhone | Touchscreen smartphone |
2008 | Jobs | App Store | Platform | Opened with ~500 apps |
2008 | Jobs | MacBook Air | Mac | “World’s thinnest notebook” at launch |
2010 | Jobs | iPad (1st gen) | iPad | Defined modern tablet category |
2011 | Jobs | iCloud (announced) | Service | Syncs content across Apple devices |
2013 | Cook | Mac Pro (Late 2013) | Mac | Radical cylindrical “trash-can” design with dual GPUs |
2014 | Cook | Apple Pay | Service | NFC mobile payments on iPhone 6/6 Plus |
2014 | Cook | Apple Watch (announced) | Wearable | Apple’s first smartwatch |
2015 | Cook | Apple Music | Service | Subscription music streaming |
2016 | Cook | AirPods | Audio | Truly wireless earbuds |
2017 | Cook | HomePod (1st gen) | Audio | Smart speaker with Siri and high-fidelity sound |
2019 | Cook | Apple Arcade | Service | Game subscription service |
2019 | Cook | Apple Card | Service | Credit card with Goldman Sachs |
2019 | Cook | Apple TV+ | Service | Original video streaming service |
2020 | Cook | M1 chip / silicon Macs | Silicon/Mac | Start of Intel→Apple silicon transition |
2021 | Cook | AirTag | Accessory | Find My network item tracker |
2022 | Cook | Apple Watch Ultra | Wearable | Rugged, larger display, titanium case |
2022 | Cook | M2 chip | Silicon | Second-gen Apple silicon |
2023 | Cook | Apple Vision Pro (announced) | Spatial | First spatial computer |
2023 | Cook | M3 family | Silicon | 3-nm chips for Macs |
2024 | Cook | Apple Vision Pro (US) | Spatial | Available Feb 2024 (US) |
2024 | Cook | M4 chip (iPad Pro) | Silicon | Debuted in new iPad Pro |
Under Steve Jobs, Apple’s market cap surged from $2.5 billion to $350 billion, driven by iconic releases like the iMac, iPod, iPhone, and iPad. Meanwhile, Tim Cook has overseen a staggering $3.1 trillion increase in value, with the company reaching $3.7 trillion in 2025, bolstered by services, AirPods, Apple Silicon, and even the Apple Vision Pro.
Jobs returned to Apple in 1997 during a time of crisis. Over the next 14 years, he delivered breakthrough products that redefined industries—from the original iMac and iPod to the game-changing iPhone and iPad. These weren’t just gadgets—they reshaped how people interact with technology.
The launch of the App Store in 2008 also set the foundation for Apple’s massive software and services ecosystem, now a major profit center for the company.
When Cook took over in 2011, many questioned if Apple could continue innovating. But Cook’s operational acumen allowed the company to scale globally, optimize margins, and diversify revenue streams. Under his leadership, Apple launched the Apple Watch, AirPods, Apple Pay, and custom silicon (M1 chip), while significantly expanding its services segment.
Today, Apple’s ecosystem includes hardware, services, entertainment, and finance. Cook has successfully shepherded the company into new growth areas, helping it weather challenges like supply chain crises and slowing smartphone growth.
Cook has now led Apple longer than Jobs. His quiet, operational style has proved durable, weathering global disruptions while continuing to expand Apple’s footprint in China, health, and AI.
But with his tenure entering its twilight, attention is turning toward succession. Some analysts point to COO Jeff Williams or SVP of Services Eddy Cue as likely candidates, while others speculate that rising stars like John Ternus or Craig Federighi could take the reins.
As Apple’s next chapter unfolds, the bar remains high: Cook took the world’s most innovative company and turned it into one of its most valuable ones. The next leader will have to chart a path for both growth and reinvention.
As noted in this 2023 CNBC profile, Cook emphasizes collaboration and expects innovation from every level of the company. Whoever takes the reins next will need to balance Apple’s culture of secrecy with a rapidly evolving tech landscape—from AI to augmented reality.
For how many years was Apple the most valuable company in the U.S. between 1995 to 2025? Find out in this nifty visualization on Voronoi.
2025-10-08 23:41:00
Natural gas production is heavily concentrated in a few countries. Dense and abundant supply significantly influences costs, security, and industrial strategy. As energy demand grows, proximity to energy becomes more critical for manufacturers competing on energy and logistics.
This chart, in partnership with Shale Crescent USA, shows the concentration of global natural gas production in 2024 and the dominance of the top nine producers in supply. Data is from the Energy Institute’s Statistical Review of World Energy and the EIA.
Here is a table that shows global natural gas production in billion cubic meters per year and billion cubic feet per day.
Rank | Country | 2024 Bcm/y | 2024 Bcf/d |
---|---|---|---|
1 |
![]() |
664 | 64 |
2 |
![]() |
630 | 61 |
3 |
![]() |
369 | 36 |
4 |
![]() |
263 | 25 |
5 |
![]() |
248 | 24 |
6 |
![]() |
194 | 19 |
7 |
![]() |
179 | 17 |
8 |
![]() |
150 | 15 |
9 |
![]() |
121 | 12 |
10 |
![]() |
113 | 11 |
Output is concentrated, with the U.S. (excluding Ohio, West Virginia, and Pennsylvania) producing 664 Bcm/year, and Russia producing 630 Bcm/year. Shale Crescent USA ranks third at 369 Bcm/year, followed by Iran (263), China (248), Canada (194), Qatar (179), Australia (150), Saudi Arabia (121), and Norway (113).
Together, these nine countries produce over 70% of the global supply. Consequently, reliable supply and energy security are only experienced in a few regions.
Shale Crescent USA includes the states of Ohio, West Virginia, and Pennsylvania. Because the region sits atop Appalachian reserves and dense midstream infrastructure, manufacturers gain reliable and low-cost access to fuel and feedstock.
Beneath the Shale Crescent, resources are vast. The U.S. Geological Survey estimates the Marcellus and Point Pleasant–Utica formations hold a mean of 214 trillion cubic feet of undiscovered, technically recoverable natural gas—evidence of a durable, long-term supply for the region.
Abundant, stable gas lowers power and feedstock costs; it also shortens supply lines. Therefore, energy‑intensive projects can invest, scale, and operate with greater certainty across the U.S. industrial base.
2025-10-08 22:25:02
See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Central banks have crossed a symbolic line: their combined gold reserves now exceed their U.S. Treasury holdings for the first time in nearly three decades.
The crossover underscores a gradual diversification away from dollar-denominated securities and toward hard assets.
This visualization tracks how these shares have evolved from the 1970s to today. The data comes from Crescat Capital macro strategist Tavi Costa.
After the end of Bretton Woods, soaring real interest rates and the rise of the petrodollar steered reserve managers toward U.S. Treasuries through the 1980s and 1990s.
In the 2000s, the dollar’s depth and liquidity reinforced that preference. Since 2022, however, heavy official gold buying has picked up again — 1,136 tonnes in 2022, a record — with 2023 and 2024 maintaining historically strong accumulation. The trend is even more striking considering that nearly one-fifth of all the gold ever mined is now held by central banks.
Date | Gold Holdings As a % International Reserves | U.S. Treasuries Holdings As a % International Reserves |
---|---|---|
1/30/1970 | 48% | 13% |
1/29/1971 | 43% | 23% |
1/31/1972 | 36% | 32% |
1/31/1973 | 39% | 31% |
1/31/1974 | 50% | 17% |
1/31/1975 | 50% | 15% |
1/30/1976 | 44% | 18% |
1/31/1977 | 41% | 20% |
1/31/1978 | 41% | 23% |
1/31/1979 | 44% | 18% |
1/31/1980 | 60% | 8% |
1/30/1981 | 54% | 11% |
1/29/1982 | 51% | 13% |
1/31/1983 | 57% | 13% |
1/31/1984 | 51% | 15% |
1/31/1985 | 46% | 17% |
1/31/1986 | 46% | 16% |
1/30/1987 | 44% | 18% |
1/29/1988 | 41% | 19% |
1/31/1989 | 37% | 21% |
1/31/1990 | 37% | 19% |
2/28/1990 | 36% | 20% |
1/31/1991 | 30% | 21% |
1/31/1992 | 29% | 23% |
1/29/1993 | 27% | 23% |
1/31/1994 | 27% | 23% |
1/31/1995 | 24% | 24% |
1/31/1996 | 23% | 28% |
1/31/1997 | 19% | 31% |
1/30/1998 | 16% | 31% |
1/29/1999 | 15% | 31% |
1/31/2000 | 14% | 29% |
2/29/2000 | 14% | 29% |
3/31/2000 | 14% | 29% |
4/28/2000 | 13% | 29% |
5/31/2000 | 13% | 29% |
6/30/2000 | 14% | 28% |
7/31/2000 | 13% | 28% |
8/31/2000 | 13% | 28% |
9/29/2000 | 13% | 28% |
10/31/2000 | 13% | 29% |
11/30/2000 | 13% | 28% |
12/29/2000 | 13% | 28% |
1/31/2001 | 12% | 29% |
2/28/2001 | 12% | 28% |
3/30/2001 | 12% | 29% |
4/30/2001 | 12% | 28% |
5/31/2001 | 12% | 28% |
6/29/2001 | 12% | 28% |
7/31/2001 | 12% | 28% |
8/31/2001 | 12% | 28% |
9/28/2001 | 13% | 27% |
10/31/2001 | 12% | 30% |
11/30/2001 | 12% | 30% |
12/31/2001 | 12% | 30% |
1/31/2002 | 12% | 30% |
2/28/2002 | 13% | 29% |
3/29/2002 | 13% | 29% |
4/30/2002 | 13% | 30% |
5/31/2002 | 13% | 29% |
6/28/2002 | 12% | 28% |
7/31/2002 | 12% | 28% |
8/30/2002 | 12% | 28% |
9/30/2002 | 12% | 28% |
10/31/2002 | 12% | 30% |
11/29/2002 | 12% | 29% |
12/31/2002 | 13% | 28% |
1/31/2003 | 13% | 29% |
2/28/2003 | 12% | 29% |
3/31/2003 | 12% | 29% |
4/30/2003 | 12% | 30% |
5/30/2003 | 12% | 28% |
6/30/2003 | 11% | 28% |
7/31/2003 | 11% | 29% |
8/29/2003 | 12% | 29% |
9/30/2003 | 12% | 28% |
10/31/2003 | 11% | 29% |
11/28/2003 | 12% | 28% |
12/31/2003 | 12% | 28% |
1/30/2004 | 11% | 30% |
2/27/2004 | 11% | 29% |
3/31/2004 | 11% | 29% |
4/30/2004 | 10% | 31% |
5/31/2004 | 10% | 30% |
6/30/2004 | 10% | 30% |
7/30/2004 | 10% | 32% |
8/31/2004 | 10% | 31% |
9/30/2004 | 11% | 31% |
10/29/2004 | 11% | 31% |
11/30/2004 | 11% | 30% |
12/31/2004 | 10% | 29% |
1/31/2005 | 10% | 29% |
2/28/2005 | 10% | 29% |
3/31/2005 | 9% | 28% |
4/29/2005 | 9% | 29% |
5/31/2005 | 9% | 29% |
6/30/2005 | 9% | 28% |
7/29/2005 | 9% | 28% |
8/31/2005 | 9% | 28% |
9/30/2005 | 10% | 28% |
10/31/2005 | 9% | 28% |
11/30/2005 | 10% | 28% |
12/30/2005 | 10% | 27% |
1/31/2006 | 11% | 27% |
2/28/2006 | 11% | 27% |
3/31/2006 | 11% | 27% |
4/28/2006 | 12% | 26% |
5/31/2006 | 11% | 25% |
6/30/2006 | 11% | 25% |
7/31/2006 | 11% | 27% |
8/31/2006 | 11% | 26% |
9/29/2006 | 10% | 26% |
10/31/2006 | 10% | 27% |
11/30/2006 | 10% | 26% |
12/29/2006 | 10% | 26% |
1/31/2007 | 10% | 26% |
2/28/2007 | 10% | 26% |
3/30/2007 | 10% | 25% |
4/30/2007 | 10% | 25% |
5/31/2007 | 9% | 24% |
6/29/2007 | 9% | 24% |
7/31/2007 | 9% | 24% |
8/31/2007 | 9% | 24% |
9/28/2007 | 10% | 23% |
10/31/2007 | 10% | 24% |
11/30/2007 | 10% | 23% |
12/31/2007 | 10% | 23% |
1/31/2008 | 11% | 24% |
2/29/2008 | 11% | 23% |
3/31/2008 | 10% | 23% |
4/30/2008 | 10% | 23% |
5/30/2008 | 10% | 23% |
6/30/2008 | 10% | 22% |
7/31/2008 | 10% | 24% |
8/29/2008 | 9% | 25% |
9/30/2008 | 9% | 24% |
10/31/2008 | 8% | 30% |
11/28/2008 | 9% | 29% |
12/31/2008 | 10% | 29% |
1/30/2009 | 10% | 31% |
2/27/2009 | 11% | 31% |
3/31/2009 | 10% | 31% |
4/30/2009 | 10% | 32% |
5/29/2009 | 11% | 31% |
6/30/2009 | 10% | 30% |
7/31/2009 | 10% | 32% |
8/31/2009 | 10% | 31% |
9/30/2009 | 10% | 31% |
10/30/2009 | 11% | 31% |
11/30/2009 | 12% | 30% |
12/31/2009 | 11% | 30% |
1/29/2010 | 11% | 31% |
2/26/2010 | 11% | 31% |
3/31/2010 | 11% | 31% |
4/30/2010 | 11% | 31% |
5/31/2010 | 12% | 31% |
6/30/2010 | 12% | 31% |
7/30/2010 | 11% | 33% |
8/31/2010 | 12% | 33% |
9/30/2010 | 12% | 31% |
10/29/2010 | 12% | 31% |
11/30/2010 | 12% | 31% |
12/31/2010 | 12% | 31% |
1/31/2011 | 12% | 31% |
2/28/2011 | 12% | 30% |
3/31/2011 | 12% | 30% |
4/29/2011 | 13% | 29% |
5/31/2011 | 12% | 30% |
6/30/2011 | 12% | 29% |
7/29/2011 | 13% | 30% |
8/31/2011 | 14% | 29% |
9/30/2011 | 13% | 30% |
10/31/2011 | 13% | 29% |
11/30/2011 | 14% | 29% |
12/30/2011 | 13% | 30% |
1/31/2012 | 14% | 30% |
2/29/2012 | 13% | 30% |
3/30/2012 | 13% | 30% |
4/30/2012 | 13% | 31% |
5/31/2012 | 12% | 31% |
6/29/2012 | 13% | 31% |
7/31/2012 | 13% | 31% |
8/31/2012 | 13% | 31% |
9/28/2012 | 13% | 30% |
10/31/2012 | 13% | 31% |
11/30/2012 | 13% | 31% |
12/31/2012 | 13% | 31% |
1/31/2013 | 13% | 31% |
2/28/2013 | 12% | 31% |
3/29/2013 | 12% | 31% |
4/30/2013 | 11% | 30% |
5/31/2013 | 11% | 31% |
6/28/2013 | 10% | 32% |
7/31/2013 | 10% | 31% |
8/30/2013 | 11% | 31% |
9/30/2013 | 10% | 31% |
10/31/2013 | 10% | 31% |
11/29/2013 | 10% | 31% |
12/31/2013 | 9% | 31% |
1/31/2014 | 9% | 31% |
2/28/2014 | 10% | 30% |
3/31/2014 | 10% | 30% |
4/30/2014 | 10% | 30% |
5/30/2014 | 9% | 30% |
6/30/2014 | 10% | 30% |
7/31/2014 | 10% | 31% |
8/29/2014 | 10% | 30% |
9/30/2014 | 9% | 31% |
10/31/2014 | 9% | 31% |
11/28/2014 | 9% | 31% |
12/31/2014 | 9% | 31% |
1/30/2015 | 10% | 31% |
2/27/2015 | 9% | 32% |
3/31/2015 | 9% | 32% |
4/30/2015 | 9% | 32% |
5/29/2015 | 9% | 32% |
6/30/2015 | 9% | 32% |
7/31/2015 | 9% | 32% |
8/31/2015 | 9% | 33% |
9/30/2015 | 9% | 33% |
10/30/2015 | 9% | 32% |
11/30/2015 | 9% | 33% |
12/31/2015 | 9% | 33% |
1/29/2016 | 10% | 33% |
2/29/2016 | 10% | 33% |
3/31/2016 | 10% | 32% |
4/29/2016 | 11% | 32% |
5/31/2016 | 10% | 32% |
6/30/2016 | 11% | 32% |
7/29/2016 | 11% | 31% |
8/31/2016 | 11% | 31% |
9/30/2016 | 11% | 31% |
10/31/2016 | 11% | 30% |
11/30/2016 | 10% | 31% |
12/30/2016 | 10% | 31% |
1/31/2017 | 10% | 31% |
2/28/2017 | 11% | 31% |
3/31/2017 | 11% | 31% |
4/28/2017 | 11% | 32% |
5/31/2017 | 11% | 31% |
6/30/2017 | 10% | 31% |
7/31/2017 | 11% | 32% |
8/31/2017 | 11% | 31% |
9/29/2017 | 11% | 31% |
10/31/2017 | 11% | 31% |
11/30/2017 | 11% | 31% |
12/29/2017 | 11% | 30% |
1/31/2018 | 11% | 30% |
2/28/2018 | 11% | 30% |
3/30/2018 | 11% | 30% |
4/30/2018 | 11% | 30% |
5/31/2018 | 11% | 30% |
6/29/2018 | 10% | 30% |
7/31/2018 | 10% | 31% |
8/31/2018 | 10% | 31% |
9/28/2018 | 10% | 31% |
10/31/2018 | 10% | 31% |
11/30/2018 | 10% | 30% |
12/31/2018 | 11% | 30% |
1/31/2019 | 11% | 31% |
2/28/2019 | 11% | 31% |
3/29/2019 | 11% | 31% |
4/30/2019 | 11% | 31% |
5/31/2019 | 11% | 31% |
6/28/2019 | 11% | 30% |
7/31/2019 | 11% | 30% |
8/30/2019 | 12% | 30% |
9/30/2019 | 12% | 30% |
10/31/2019 | 12% | 30% |
11/29/2019 | 12% | 30% |
12/31/2019 | 12% | 29% |
1/31/2020 | 13% | 29% |
2/28/2020 | 13% | 29% |
3/31/2020 | 13% | 30% |
4/30/2020 | 13% | 29% |
5/29/2020 | 14% | 29% |
6/30/2020 | 14% | 29% |
7/31/2020 | 15% | 28% |
8/31/2020 | 15% | 28% |
9/30/2020 | 14% | 28% |
10/30/2020 | 14% | 28% |
11/30/2020 | 14% | 28% |
12/31/2020 | 14% | 27% |
1/29/2021 | 14% | 27% |
2/26/2021 | 13% | 28% |
3/31/2021 | 13% | 28% |
4/30/2021 | 13% | 28% |
5/31/2021 | 14% | 27% |
6/30/2021 | 13% | 28% |
7/30/2021 | 14% | 27% |
8/31/2021 | 14% | 27% |
9/30/2021 | 13% | 27% |
10/29/2021 | 13% | 27% |
11/30/2021 | 13% | 27% |
12/31/2021 | 14% | 27% |
1/31/2022 | 14% | 26% |
2/28/2022 | 14% | 26% |
3/31/2022 | 15% | 26% |
4/29/2022 | 15% | 26% |
5/31/2022 | 14% | 26% |
6/30/2022 | 14% | 27% |
7/29/2022 | 14% | 26% |
8/31/2022 | 14% | 26% |
9/30/2022 | 14% | 27% |
10/31/2022 | 14% | 27% |
11/30/2022 | 14% | 26% |
12/30/2022 | 15% | 26% |
1/31/2023 | 15% | 26% |
2/28/2023 | 15% | 26% |
3/31/2023 | 15% | 25% |
4/28/2023 | 15% | 25% |
5/31/2023 | 15% | 25% |
6/30/2023 | 15% | 26% |
7/31/2023 | 15% | 25% |
8/31/2023 | 15% | 25% |
9/29/2023 | 15% | 25% |
10/31/2023 | 16% | 26% |
11/30/2023 | 16% | 25% |
12/29/2023 | 16% | 25% |
1/31/2024 | 16% | 25% |
2/29/2024 | 16% | 25% |
3/29/2024 | 17% | 25% |
4/30/2024 | 17% | 25% |
5/31/2024 | 17% | 24% |
6/28/2024 | 17% | 24% |
7/31/2024 | 18% | 25% |
8/30/2024 | 18% | 24% |
9/30/2024 | 19% | 24% |
10/31/2024 | 20% | 23% |
11/29/2024 | 19% | 23% |
12/31/2024 | 19% | 23% |
1/31/2025 | 20% | 24% |
2/28/2025 | 20% | 24% |
3/31/2025 | 22% | 23% |
4/30/2025 | 22% | 23% |
5/30/2025 | 22% | 23% |
6/30/2025 | 24% | 23% |
As political uncertainty and geopolitical risks continue to fuel safe-haven demand, this purchasing momentum has also lifted prices: gold surpassed $4,000 an ounce for the first time ever in October 2025.
Crossing above Treasuries signals that reserve managers are prioritizing durability, portability, and neutrality over yield.
According to the IMF, gold’s share of global reserves climbed to about 18% in 2024, up sharply from mid-2010s levels, reflecting a structural reweighting toward tangible assets.
Seen as an alternative to heavily indebted fiat currencies, especially the U.S. dollar, the share of gold in central bank reserves has increased most among emerging market economies. China, Russia, and Türkiye have been the largest official buyers over the past decade.
If you enjoyed today’s post, check out U.S. Dollar Index Falls 10.1% in 2025, Steepest Drop in Three Decades on Voronoi, the new app from Visual Capitalist.
2025-10-08 20:03:20
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Public pension health varies widely across the U.S., and 2025 estimates shows a clear divide between states with strong fiscal management and those still struggling to meet retirement promises.
In this visualization, we rank all 50 states (and D.C.) by the average funded ratio of their local pension plans, which measures how much of their pension obligations are backed by assets.
The data for this visualization comes from Equable.
A funded ratio of 100% means a state can fully meet its future pension obligations, while lower ratios indicate potential fiscal challenges that may require increased contributions or benefit adjustments. Pensions with less than 60% funding are classified as “distressed”.
State | Percentage Range |
---|---|
Illinois | Less than 60% |
Kentucky | Less than 60% |
Mississippi | Less than 60% |
New Jersey | Less than 60% |
Connecticut | 60% - 70% |
Hawaii | 60% - 70% |
New Mexico | 60% - 70% |
South Carolina | 60% - 70% |
Alabama | 70% - 80% |
Alaska | 70% - 80% |
Arizona | 70% - 80% |
Colorado | 70% - 80% |
Maryland | 70% - 80% |
Massachusetts | 70% - 80% |
Montana | 70% - 80% |
New Hampshire | 70% - 80% |
North Dakota | 70% - 80% |
Pennsylvania | 70% - 80% |
Rhode Island | 70% - 80% |
Vermont | 70% - 80% |
Arkansas | 80% - 90% |
California | 80% - 90% |
Florida | 80% - 90% |
Georgia | 80% - 90% |
Indiana | 80% - 90% |
Kansas | 80% - 90% |
Louisiana | 80% - 90% |
Maine | 80% - 90% |
Michigan | 80% - 90% |
Missouri | 80% - 90% |
Nevada | 80% - 90% |
North Carolina | 80% - 90% |
Ohio | 80% - 90% |
Oklahoma | 80% - 90% |
Oregon | 80% - 90% |
Texas | 80% - 90% |
Virginia | 80% - 90% |
Wyoming | 80% - 90% |
DC | 90% - 100% |
Delaware | 90% - 100% |
Idaho | 90% - 100% |
Iowa | 90% - 100% |
Minnesota | 90% - 100% |
Nebraska | 90% - 100% |
New York | 90% - 100% |
South Dakota | 90% - 100% |
Tennessee | 90% - 100% |
Utah | 90% - 100% |
Washington | 90% - 100% |
West Virginia | 90% - 100% |
Wisconsin | 90% - 100% |
Based on 2025 estimates, four states remain in a distressed status with less than 60% funding: New Jersey, Illinois, Kentucky, and Mississippi.
According to some sources, New Jersey’s pensions have the lowest funded ratios in America due to several factors:
Illinois is also in a dire situation, with Chicago pensions growing their unfunded liabilities from $11 billion in 2001, to $56 billion in 2024.
According to Equable, the three primary reasons pensions are falling behind are assumption changes, investment experience, and interest on debt.
Managing pension plans requires a wide range of assumptions about future events: investment returns, mortality rates, workforce turnover, salary growth, inflation, government contributions, and more. There are lots of places where reality may not line up with actuarial expectations.
State of Pensions 2025
For example, in 2023, America’s public pension plans faced a collective $1.3 trillion in unfunded liabilities. Of this amount, 36% was due to “assumption changes”, which refers to adjustments in key actuarial assumptions.
When metrics like life expectancy rise, pension plans must pay their retirees benefits for longer than originally expected.
The second major reason, “investment experience”, accounts for 29% of the $1.3 trillion shortfall. Pension plans have faced high investment return volatility since the Global Financial Crisis, making it difficult to manage cash flows.
Finally, the third major reason is “interest on debt”, representing 22% of the shortfall. Equable reports that America’s public pensions have been underfunded for nearly two decades, and interest payments on debt are growing faster than the member contributions they collect.
If you enjoyed today’s post, check out Which States Have the Highest Share of Retirement-Age Workers? on Voronoi, the new app from Visual Capitalist.