How Much Did The Rich Make In 2021? Soaring Wealth Of 1% Continues – By Maggie Valenti (IB Times) / April 1, 2022
The pandemic caused a dramatic increase in the wealth owned by the top 1%, as wealth inequality between billionaires and the rest of the population continued to intensify in 2021.
According to recent data from the Federal Reserve, the top 1% increased their overall wealth by $6.5 trillion in 2021. By the end of Q4 2021, the one percent’s wealth reached $45.9 trillion and their property wealth increased by over $12 trillion, according to the latest report on household wealth.
The data showed that the wealthiest Americans owned an astounding 32.3% of the nation’s wealth by that time, while the share of wealth owned by the bottom 90% of Americans dropped to 30.2% from 30.5%.
Wealth inequality in 2021 was driven by both private businesses and stocks, with $4.3 trillion of gains by the 1% coming from corporate equities and mutual fund shares.
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