May 28, 2019
The bottom 50% of Americans now have 1% of America's wealth
The distribution of household wealth has become more uneven in recent years, notes Deutsche Bank Securities chief economist Torsten Slok. The wealthiest 10% of households now hold 70% of all American wealth. They held 60% as recently as 2000.
By the numbers: In recent years, the gains of the top 1% have been outsized and come largely at the expense of those in the middle. The lowest 50% of earners have recouped at least a piece of the wealth pie.
- The bottom half of U.S. households now control 1.3% of the country's wealth. From 2010–2012 their net ownership was 0.0% and only rose above 1% in 2018, according to Federal Reserve data.
Go deeper: U.S. sees biggest wealth gap since the Roaring '20s
Editor's note: This post has been corrected to show that the wealthiest 10% of households now hold 70% of all American wealth, and held 60% as recently as 2000.