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U.S. Wealth Distribution
Data (1998)
(Data
from The State of Working America 2000/2001)
Wealth
distribution in the U.S. is extremely concentrated, much more
so than income. These statistics, on the other hand, only hint at the
L-Curve phenomenon because the top 1% isn't scrutinized in sufficient
detail. Still, compare the net worth of the top half of the top 1% with
the bottom half of the top 1%! If you add them together and proportion
them out, 3/4 of the wealth in the top 1% is actually in the top 0.5%.
The top and bottom halves of the top 0.5% would undoubtedly show even
greater disparity if the data were presented with enough resolution. Note
that nothing on this page even mentions billionaires. The largest fortunes
are in the $100-billion range. The statistics on billionaires are diluted
by lumping them in with mere millionaires.
- Household distribution
of net worth (1998), i.e. total value of assets:
| Percent
of owners |
Net worth |
Cumulative
Percent |
Cumulative
net worth |
| Top 0.5% |
25.6% |
Top 0.5% |
25.6% |
| Next 0.5% |
8.4% |
Top 1% |
34.0% |
| Next 4% |
23.4% |
Top 5% |
57.4% |
| Next 5% |
11.4% |
Top 10% |
68.8% |
| Next 10% |
12.8% |
Top 20% |
81.6% |
| Last 80% |
18.5% |
All 100% |
100% |
- Average household
wealth by wealth class (in 1998 dollars): (Remember
that $100-billion is 10,000 times greater than the average wealth of
the top 1%.)
| Wealth class |
Average
wealth of class |
| Top 1% |
$10,203,700 |
| Next 4% |
$1,441,200 |
| Next 5% |
$623,500 |
| Next 10% |
$344,900 |
| Next 20% |
$161,300 |
| Next 20% |
$61,000 |
| Next 20% |
$11,000 |
| Last 20% |
-$8,900 |
- Household distribution
of common stocks in 1998 (i.e. who "owns" the corporations). These statistics
include indirect ownership through mutual funds, 401k plans, etc.
| Percent
of owners |
Net stocks |
Cumulative
Percent |
Cumulative
stocks |
| Top 0.5% |
37.0% |
Top 0.5% |
37.0% |
| Next 0.5% |
10.7% |
Top 1% |
47.7% |
| Next 4% |
27.2% |
Top 5% |
74.9% |
| Next 5% |
11.3% |
Top 10% |
86.2% |
| Next 10% |
9.8% |
Top 20% |
96% |
| Last 80% |
4.1% |
All 100% |
100% |
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