Wealth inequality continues to rise 📊
Thirty years ago, America's celebrated middle class held twice as much wealth as the top 1%. Over the years, the rich have gotten richer, while the middle class and poor have gotten poorer with each economic crisis.
Now the top 1% has caught up with and surpassed the middle class in collective wealth:
🏘 The upper 1% controls 12.9% of real estate wealth in 2023, up from 8.1% at the start of 1990
📈 The top 1% holds close to half of all corporate equities and mutual fund shares
🛒 The upper 1% owns nearly half of all private-company wealth today, up from about 30% in 1990
💸 Between 1979 and 2021, the wages of Americans in the top 1% grew by 206% while wages for the bottom 90% grew by only 29%.
