Members Of The Forbes 400 Hold More Wealth Than All U.S. Black Families Combined, Study Finds

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International disparities resemble those in the United States. Of the 2,043 individuals who made Forbes' 2018 list of the World's Billionaires, just 11 were black. Additionally, a 2018 Oxfam analysis found that the world's 42 richest people hold as much wealth as the poorest 3.7 billion people combined.

The Institute for Policy Studies' latest report emphasizes that wealth concentration in the U.S. is increasing across demographics. For instance, the three richest Americans—Jeff Bezos, Bill Gates and Warren Buffett—hold more wealth than the bottom 50% of the country combined, the institute says. That statistic mirrors the barrier to entry for The Forbes 400. In 1982, the list's inaugural year, the minimum net worth was $100 million. This year the cutoff hit an all-time high of $2.1 billion.

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• Black families are about 20 times more likely to have zero or negative assets (indebted) than they are to be worth $1 million or more. Latino households are 14 times more likely to have zero or negative assets than they are to be millionaires. Meanwhile, white households are equally likely to fall into either category.
• The wealth of the median Latino family rose 54% between 1983 and 2016, to $6,600. Still, the wealth of typical Latino household is 1/22nd that of the median white household.

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Read more at https://www.forbes.com/sites/noahki...k-families-combined-study-finds/#3a48004f6771

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