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Federal Reserve data show the top 1% hold slightly less wealth than the bottom 90% combined.

The Claim

In the United States, the richest 1% of households have as much wealth as the bottom 90% of households combined.

Verified by Lenz ·

The Short Version

The evidence shows extreme near-parity, not actual parity. Recent Federal Reserve data indicate the richest 1% own slightly less wealth than the bottom 90% combined, so the claim overstates the concentration. A more accurate version would say the top 1% hold nearly as much wealth as the bottom 90%, not the same amount.

Caveats

  • The claim uses exact language—“as much wealth as”—but the best recent official estimates show the bottom 90% still holds a somewhat larger share.
  • Some supportive articles rely on older studies or different wealth-measurement methods, which can produce more dramatic comparisons than the current Federal Reserve series.
  • The claim lacks a time qualifier; this comparison shifts over time, and the latest official figures are the most relevant.

The Receipts

  1. Distributional Financial Accounts

    Federal Reserve

  2. Distributional Financial Accounts (DFA) Data Visualization

    Board of Governors of the Federal Reserve System

  3. Updating the Distributional Financial Accounts, Accessible Data

    Board of Governors of the Federal Reserve System

  4. Wealth of the 1 Percent Reaches Decade High in the U.S.

    Statista

  5. Who owns American wealth?

    USAFacts

  6. Trends in the Distribution of Family Wealth, 1989 to 2022

    Congressional Budget Office

  7. Wealth and Income Concentration in the SCF: 1989–2019

    Board of Governors of the Federal Reserve System

  8. From 1989 to 2016, the top 1%, 0.1%, and 0.01% wealth shares increased

    University of Chicago Booth School of Business

  9. Top Wealth in the United States: New Estimates and Implications for Taxing the Rich

    New York University School of Law

  10. Top Wealth in America: New Estimates and Implications for Taxing

    NBER

+ 19 more sources — see the full list on Lenz

Filed Under

More Perfect UnionUnited States

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