The rich hold most of the wealth in America.

(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