Top 0.1% Saw Their Share of US Wealth Increase Even as Rest of 10% Didn't
- Bottom half, top 0.1% have seen shares grow since pandemic
- Fed data shows middle age, Black households have lost the most
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Virtually all Americans have gotten wealthier since the pandemic. But as the overall pie has gotten larger, the slice for a group of affluent households is shrinking.
Since the end of 2019, households in the 90-99.9% bracket of wealth have lost their share of the US total mostly to those in the bottom half and the top 0.1%, according to data from the Federal Reserve. These families, who are well off but shy of the mega rich, typically earn around $430,000 in annual income.