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Nearly half the top 1% by income were also in the top 1% by wealth. [279] In 2010, the wealthiest 5% of households owned approximately 72% of financial wealth, while the bottom 80% of households had 5%. [280] The top 1% controlled 38.6% of the country's wealth in 2016. [281] Much of the wealth gain came to those in the top 1%.
Families whose wealth exceeds $2.9 million find themselves in the top 10% of wealth in the States. But although the benchmark to join the exclusive club is a meager $3 million, the average funds ...
The Great Recession also caused a drop of 36% in median household wealth, but a drop of only 11% for the top 1%, further widening the gap between the top 1% and the bottom 99%. [16] [15] [17] According to PolitiFact and other sources, in 2011, the 400 wealthiest Americans had more wealth than half of all Americans combined.
[11] [12] In 2015, the New York Times carried a list of top donors to political campaigns. [13] Herbert had noted that it was "a tiny group – just one-quarter of 1 percent of the population – and it is not representative of the rest of the nation. But its money buys plenty of access." [11]
The average wages of those in the top 1 percent of wage earners were $785,968 that year. In the rarefied top 0.1 percent, the average earnings were more than $2.8 million in 2022.
However, the reality of entering the top 1% of American wealth is far more attainable than the headlines might suggest. According to the latest findings from the 18th edition of the Wealth Report ...
After the Great Recession which started in 2007, the share of total wealth owned by the top 1% of the population grew from 34.6% to 37.1%, and that owned by the top 20% of Americans grew from 85% to 87.7%. The Great Recession also caused a drop of 36.1% in median household wealth but a drop of only 11.1% for the top 1%. [55] [53]
This is a list of U.S. states, territories, and Washington, D.C. by income. Data is given according to the 2023 American Community Survey (ACS) 1-Year Estimates, except for the American Samoa, Guam, the Northern Mariana Islands and the U.S. Virgin Islands, for which the data comes from 2010, as ACS does not operate in these areas. [note 1]