Total wealth of US billionaires in the past 13 months

According to the latest report by the Institute for policy studies and the Americans for tax fairness, the total wealth of US billionaires has increased by $1.62 trillion, or 55%, in the past 13 months.

 

This highlights the so-called “K-shaped” recovery of the U.S. economy: the income of the high-income group is growing further, while that of the low-income group is on the contrary.

 

“Over the past 31 years, the wealth of billionaires has increased 19 fold, from $240 billion in 1990 to $4.56 trillion (adjusted for inflation) in 2021,” the report said The report uses Forbes data to track the income of billionaires from March 18, 2020 to April 12, 2021.

 

The number of US billionaires is also growing, from 66 in 1990 to 719 today.

 

Chuck Collins, director of the inequality program at the US Institute for policy research, said: “the worry is that we have increased inequality to some extent at the time of the outbreak, which means that the number of economically unstable families is increasing.”

 

According to the Federal Reserve’s latest quarterly report on household wealth, in the fourth quarter of 2020, the total household wealth of the bottom 50% of Americans was $2.49 trillion. Meanwhile, the top 1% of households added about $4 trillion in wealth in 2020, more than the bottom 50% of Americans combined.

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