Top 1% Of U.S. Households Hold 15 Times More Wealth Than Bottom 50% Combined – Forbes

Top 1% Of U.S. Households Hold 15 Times More Wealth Than Bottom 50% Combined – Forbes


Topline

New data available from the U.S. Federal Reserve shows that the wealth gap in America has widened and economic inequality increased in 2020 amidst a coronavirus pandemic that has disproportionately impacted low-wage service workers and people of color, which coincides with a report published earlier this week showing that global billionaire wealth has concurrently skyrocketed at an unprecedented rate.

Key Facts

According to the latest Fed data, the top 1% of Americans have a combined net worth of $34.2 trillion (or 30.4% of all household wealth in the U.S.), while the bottom 50% of the population holds just $2.1 trillion combined (or 1.9% of all wealth).

A study published earlier this week by Swiss bank UBS
Source…

Next Post

What China's role in Africa means for the world - Quartz Africa

What China's role in Africa means for the world - Quartz Africa

Subscribe US Now