Wealth of the top 1% in U.S. hits all-time high of $45 trillion

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Wealth of the top 1% in U.S. hits all-time high of $45 trillion

Data released by the Federal Reserve on Thursday shows the top 1% of Americans are the richest they've ever been.The new data reveals that at the end of the fourth quarter last year they had a record $44.6 trillion in wealth. That's up from $30 trillion in 2020.The main driver of wealth gains last year was from the stock market hitting record highs. While wages are increasing for average Americans, the top 1% is gaining wealth at a much faster p…

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In Q4 2023, the wealth held by the top 1% of U.S. citizens became a record $44.6 trillion. The wealth of the top 1%, defined by the Federal Reserve as those with a net worth over $11 million, increased by $2 trillion in the three months considered due to the rising stock market. Most of these riches are in the form of significant stock holdings. Between October and December 2023, the S&P 500 index, the most representative on Wall Street, gained …

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Wealth of the top 1% in U.S. hits all-time high of $45 trillion

Data released by the Federal Reserve on Thursday shows the top 1% of Americans are the richest they've ever been.The new data reveals that at the end of the fourth quarter last year they had a record $44.6 trillion in wealth. That's up from $30 trillion in 2020.The main driver of wealth gains last year was from the stock market hitting record highs. While wages are increasing for average Americans, the top 1% is gaining wealth at a much faster p…

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Wealth of the Top 1% in US Hits All-Time High of $45 Trillion

"With a 2-cent Ultra-Millionaire Tax on every dollar of wealth above $50 million—and another penny on every dollar above $1 billion—we can invest in opportunity for all of our kids," notes Sen. Elizabeth Warren.

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Joe Biden's America: Wealthiest 1% Set Record with $44 Trillion Total Net Worth

Biden casts his administration as opposed to the widening wealth gap, even though a majority of Americans still live paycheck to paycheck, a recent LendingClub study found, raising concerns that so-called “Bidenomics” failed to help average Americans. The post Joe Biden’s America: Wealthiest 1% Set Record with $44 Trillion Total Net Worth appeared first on Breitbart.

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America's Top 1% Net Worth Rises to Record $44 Trillion

America's Top 1% Net Worth Rises to Record $44 Trillion