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Expand chart
Reproduced from a Deutsche Bank chart; Chart: Axios Visuals

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.

Go deeper

31 mins ago - Podcasts

Google's chief health officer Karen DeSalvo on vaccinating America

Google on Monday became the latest Big Tech company to get involved with COVID-19 vaccinations. Not just by doing things like incorporating vaccination sites into its maps, but by helping to turn some of its offices and parking lots into vaccination sites.

Axios Re:Cap goes deeper into what Google is doing, and why now, with Dr. Karen DeSalvo, Google's chief health officer who previously worked at HHS and as health commissioner for New Orleans.

Biden signs order overturning Trump's transgender military ban

Photo: Tom Brenner/Getty Images

President Biden signed an executive order on Monday overturning the Trump administration's ban on transgender Americans serving in the military.

Why it matters: The ban, which allowed the military to bar openly transgender recruits and discharge people for not living as their sex assigned at birth, affected up to 15,000 service members, according to tallies from the National Center for Transgender Equality and Transgender American Veterans Association.

GOP Sen. Rob Portman will not run for re-election, citing "partisan gridlock"

Photo: Drew Angerer/Getty Images

Sen. Rob Portman (R-Ohio) announced Monday he will not run for a third term in the U.S. Senate in 2022, citing "partisan gridlock."

Why it matters: It's a surprise retirement from a prominent Senate Republican who easily won re-election in 2016 and was expected to do so again in 2022, creating an open Senate seat in a red-leaning swing state.