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Wealthy During The Pandemic
The wide economic gulf between the "rich" and the "poor" is no state secret.
But new data from the Federal Reserve paints a particularly stark picture:
The top 1% control $34.2 trillion of collective wealth - 16 times more than the nation's "bottom" 50%.
As highlighted by the Post, the top 59 wealthiest people in America have a combined fortune of $2.09 trillion. The "bottom" 50%, representing roughly 165 million people, controls $2.08 trillion.
The millennial generation, born between 1981 and 1996, controls just 4.6% of U.S. wealth despite having the largest workforce with 72 million members.
- Three millennials, Facebook co-founders Mark Zuckerberg and Dustin Moskovitz, along with Walmart heir Lukas Walton, personally control one out of every $40 held by their generational cohort.