Chart of the Day: America’s richest 1% own 40% of the country’s wealth
The proportion of wealth own by the richest 1% is the largest in 50 years
Image: REUTERS/Thomas White/Illustration
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The richest 1% of America's households own 40% of the country's wealth – the biggest proportion in 50 years, according to a new paper by economist Edward N. Wolff.
The research, reported on by the Washington Post, also suggests that the country's top 1% have more wealth than the bottom 90% of households combined. The wealth gap has widened in recent decades, with the share of wealth owned by the richest 1% growing by nearly three percentage points since 2013 alone.
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