Monday, May 22, 2017

The richest 10% hold 76% of the wealth

by Jeanne Sahadi @CNNMoney August 18, 2016


The top 10% of families -- those who had at least $942,000 -- held 76% of total wealth. The average amount of wealth in this group was $4 million.

Everyone else in the top 50% of the country accounted for 23% of total wealth, with an average of $316,000 per family.

That leaves just 1% of the total pie for the entire bottom half of the population.


What a difference 25 years made

Changes in wealth over time was also very uneven across groups.

Families at the 90th percentile saw their wealth grow by 54% between 1989 and 2013.

Those at the 50th percentile only experienced a 4% rise during the same period.

And those at the 25th percentile actually saw their wealth drop by 6%.

What's more, the top tenth of families saw their share of the total wealth pie grow from two-thirds to more than three quarters over the 25-year period, while everyone else saw their slice shrink.


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