(CLO) The gap between rich and poor in the US is increasingly evident as half of the population controls almost all of the country's assets, while the other half owns only a very small portion.
Data from the US Federal Reserve as of the third quarter of 2024 shows that the total net worth of US households is nearly $160 trillion, but the richest 50% of households are holding up to $156 trillion (98%), while the poorer 50% of households only have about $4 trillion.
The United States is one of the countries with the most stark divide between rich and poor. Photo: Federal Reserve Bank of Minneapolis
The disparity is even more stark when you consider the wealthiest 1% of Americans. With just 1.3 million households, this group controls about $49 trillion, or one-third of the nation’s total wealth. In particular, the super-rich—the top 0.1% (136,000 households)—control half of the wealth of the 1%, or about $24.5 trillion.
The data also shows the wealth levels needed for a household to enter the wealth quintiles. According to the Federal Reserve’s 2022 report, households with less than $192,000 in assets are in the bottom 50%, with a disproportionate number of blacks, Latinos, and those without a bachelor’s degree.
Meanwhile, to be in the top 10%, a household needs at least $1.92 million, and whites and Asians with college degrees make up the overwhelming majority of this group.
According to estimates from financial research tool DQYDJ, a household in the top 1% needs to have at least $13.7 million in net assets. That figure rises to $62 million if they want to be in the top 0.1% of the country.
Hoai Phuong (according to DQYDJ, Voronoi)
Source: https://www.congluan.vn/nguoi-giau-nam-gan-het-tai-san-o-my-post337317.html
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