The 400 Richest Americans Are Now Richer Than the Bottom 50 Percent Combined

[mistersandman]

According to the most recent information, the Forbes 400 now have a greater net worth than the bottom 50% of U.S. households combined.

In 2009, the total net worth of the Forbes 400 was $1.27 trillion.

The best information now available shows that in 2009 the bottom 60% (yes, now it's 60%, not 50%) of U.S. households owned only 2.3% of total U.S. wealth.

Total U.S. household net worth -- rich, middle class and poor combined -- at the time the Forbes list came out was $53.15 trillion. So the bottom 60% of households possessed just $1.22 trillion of that $53.15 trillion, less than the Forbes 400.

Thus the Forbes 400 unquestionably have more wealth than the bottom 50%.

By contrast, in 2007 the bottom 50% of U.S. households owned slightly more wealth than the Forbes 400; the economic meltdown has hurt the bottom more than the top. (And in fact, in 2010 the net worth of the Forbes 400 jumped to $1.37 trillion.)

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That top 400, by the way, represents .0000035 percent of all households in the United States.  And if you look at the Forbes 400, all of them are white and only three are women.