Greenlining has been talking about the racial wealth gap for long enough that the statistics should no longer surprise, but somehow they do. The latest gobsmacking numbers come from a new report by the Institute for Policy Studies. Some highlights (or should I say, “lowlights”?):
• America’s 20 wealthiest people¬ now own more wealth than the bottom half of the American population combined, a total of 152 million people in 57 million households.
• The wealthiest 100 households now own about as much wealth as the entire African American population of the United States put together.
• The wealthy folks listed in the Forbes 400 now own about as much wealth as the nation’s entire African-American population ¬PLUS more than a third of the Latino population ¬– combined.
• Among the Forbes 400, just two individuals are African American and only five are Latino (and three of those five are members of the same family).
Yikes. And that’s just a few highlights. Read the whole report here.