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If you wanted to be in the top 5% of households at that point, you would need a net worth of $3,795,000. As you might expect, though, you don't need as much to reach the top 5% of younger households.
According to an analysis that excludes pensions and social security, the richest 1% of the American population in 2007 owned 34.6% of the country's total wealth, and the next 19% owned 50.5%. Thus, the top 20% of Americans owned 85% of the country's wealth and the bottom 80% of the population owned 15%.
In 2022, families in America's top 10% held 60% of all wealth, up from 56% in 1989. Families in the top 1% held 23% of the nation's wealth in 1989, which has now grown to 27%.
The top 20% of Americans owned 86% of the country's wealth and the bottom 80% of the population owned 14%. In 2011, financial inequality was greater than inequality in total wealth, with the top 1% of the population owning 43%, the next 19% of Americans owning 50%, and the bottom 80% owning 7%. [15]
The American upper class can be broken down into two groups: people of substantial means with a history of family wealth going back a century or more (called "old money") and families who have acquired their wealth more recently (e.g. fewer than 100 years), sometimes referred to as "new money". [4] [5]
This disparity makes the top 5% and 1% feel worlds apart from the median household. And while income is one measure, wealth (the assets you own versus what you owe) often paints an even starker ...
It is based on an annual assessment of wealth and assets by Forbes and by data from the Bloomberg Billionaires Index. The Forbes 400 Richest Americans list has been published annually since 1982. The combined net worth of the 2020 class of the 400 richest Americans was $3.2 trillion , up from $2.7 trillion in 2017. [ 1 ]
The average wealth of households in the top 1 percent was about $35.5 million. In the top 0.1 percent, the average household had wealth of more than $158.6 million. Here is how the remaining ...