The wealth divide in America has become increasingly pronounced, particularly between the ultra-rich and other wealthy households. Recent data reveals a significant increase in wealth among the top 0.1% since 2019.
• The wealth of the top 0.1% of American households has more than doubled since the end of 2019, now totaling around $28 trillion, which is about 15% of the country’s total wealth.
• This group, approximately 137,000 households, has seen an increase of about $14.5 trillion, largely due to rising stock and mutual fund values.
• In contrast, the wealth of the bottom 50% of Americans is around $4 trillion, equivalent to only 2.3% of U.S. wealth.
• The average wealth of the top 0.1% exceeds $200 million, while the bottom half averages roughly $63,000.
• Most income for the top 0.1% comes from businesses and capital gains rather than wages.
As financial markets rise, the wealth gap widens, exacerbating the divide between the ultra-rich and other wealthy Americans, creating substantial disparities in wealth distribution.
https://www.zerohedge.com/markets/top-01-has-more-doubled-its-wealth-2019
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