In Reply to: Tech Titans at the Table. Who is in charge? posted by mh on June 22, 2026 at 12:45:15
The richest 1% of Americans held nearly a third of the country’s total wealth at the end of 2025, the largest percentage the Federal Reserve Board has recorded since it started monitoring the numbers in 1989. In 1990, the share was 22.5%.
The latest percentage, 31.9%, is likely the largest since the end of World War II, possibly heralding a return to the extreme wealth inequality of the late 19th and early 20th centuries. And it is likely to balloon further as a result of President Donald Trump’s tax cuts and other pro-business policies.
Today’s top 1% consists of about 1.4 million households with at least $12 million in net worth, holding a total of $55.9 trillion in wealth. The bottom 50% consists of 67.7 million households with less than $264,000 in net worth.
Using different methods than the Fed, French economist Thomas Piketty has asserted that the richest 1% of Americans held nearly half the nation’s wealth in 1928 and 1929, just before the Great Depression. Their share declined after that, during a period of high marginal income tax rates (the percentage of tax you pay on your last dollar of income) and widespread discomfort with astronomical pay for executives. Instead, corporations plowed their profits into expansion and higher wages for workers.
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Meanwhile Blacks and the elderly are getting poorer.