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Household net worth fell from 2007 to 2009 by a total of $17.5 trillion or 25.5%. This was the equivalent loss of one year of GDP. By the fourth quarter of 2010, the household net worth had recovered by a growth of 1.3 percent to a total of $56.8 trillion.
Federal Reserve data indicates that as of Q4 2021, the top 1% of households in the United States held 32.3% of the country's wealth, while the bottom 50% held 2.6%. From 1989 to 2019, wealth became increasingly concentrated in the top 1% and top 10% due in large part to corporate stock ownership concentration in those segments of the population ...
99% versus 1%. We are the 99% is a political slogan widely used and coined during the 2011 Occupy movement. The phrase directly refers to the income and wealth inequality in the United States, with a concentration of wealth among the top-earning 1%. It reflects the understanding that "the 99%" are paying the price for the mistakes of a tiny ...
However, assets are not net worth. The rich are more likely to own their homes outright. In the third quarter of 2023, households from the top 0.1% owned $1.83 trillion worth of real estate while ...
The Pareto distribution gives 52.8% owned by the upper 1%. According to the OECD in 2012 the top 0.6% of world population (consisting of adults with more than US$1 million in assets) or the 42 million richest people in the world held 39.3% of world wealth. The next 4.4% (311 million people) held 32.3% of world wealth.
Households with a net worth of $1 million or more may be classified as members of the upper class, depending on the definition of class used. While most sociologists estimate that only 1% of households are members of the upper class, Beeghley asserts that all households with a net worth of $1 million or more are considered "rich."
Between 2008 and 2009, the net worth of US households had recovered from a low of 3.55 times GDP to 3.75 times GDP, while nonfinancial business fell from 1.37 times GDP to 1.22 times GDP. The net worth of American households and non-profits constitutes three-quarters of total United States net worth – in 2008, 355% of GDP. Since 1960, US ...
The top 400 Americans had net worth of $2 trillion in 2013, more than the bottom 50%. Their average net worth was $5 billion. The lower 50% of households held 3% of the wealth in 1989 and 1% in 2013. Their average net worth in 2013 was approximately $11,000.