The stock market has gained 350% in the last 10 years. This is where the good news stops for 90% of Americans; including tens of millions of older Americans. The fact is that the wealthiest 10% of households own 84% of all stocks. The most visible indicator of wealth inequality in America today is Forbes magazine list of the richest people. In 2019, the these three men; Amazon founder Jeff Bezos, Microsoft founder Bill Gates, and billionaire investor Warren Buffett held combined fortunes worth more than the total wealth of the poorest half of all Americans.
If a picture is worth a thousand words, this graph is worth 10,000. Inequality is skyrocketing even within the Forbes 400 list of the richest Americans. In today’s dollars, the net worth of the richest Forbes 400 member has soared from $5 billion in 1982 to $160 billion in 2018.
cj world news us