Wealth inequality is growing
Average wealth has increased over the past 50 years, but it has not grown equally for all groups. Between 1963 and 2016,
- families near the bottom of the wealth distribution (those at the 10th percentile) went from having no wealth on average to being about $1,000 in debt,
- those in the middle more than doubled their wealth,
- families near the top (at the 90th percentile) saw their wealth increase fivefold,
- and the wealth of those at the 99th percentile—in other words, those wealthier than 99 percent of all families—grew sevenfold.