…The top 10% of the richest people in the United States held 69.8% of total U.S. net worth (which is the value of all assets a person holds minus all their liabilities) as of Q1 of 2021.
The top 1% held 32.1% of that wealth
the next 9% held 37.7%
the bottom 50% held 2%…(as recently as 2011, that number was as low as 0.4%, caused by the downswing of the Great Recession.
@$$4$The coronavirus pandemic did not have the same effect on the wealth of the bottom 50 percent, which kept growing in 2020 and has now returned to pre-financial crisis levels. The pandemic has, however, expanded the wealth of the ultra-rich top 1 percent, which gained almost two percentage points in overall wealth distribution between Q2 of 2020 and Q1 2021.
Looking the development of U.S. wealth distribution since 1989:
the top 1% have gotten richer…expanding their wealth share to 32% from 24%,
the next 9% have remained steady at 37%, while
the 50-90 percentile have seen their wealth decline to 28% from 35%.
The above version of theoriginalarticle by Katharina Buchholzwas edited [ ] and abridged (…) to provide you with a faster and easier read. Also note that this complete paragraph must be included in any re-posting to avoid copyright infringement.
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