Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Twin Cities
Tampa Bay news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa Bay
Charlotte news in your inbox
Catch up on the most important stories affecting your hometown with Axios Charlotte
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.