Alarming Stats That Prove America’s Wealth Inequality Problem Is Worse Than We Think

2. One in five U.S households have zero or negative net worth

man's hand with change

The gap is growing for those with savings and those with nothing | Spencer Platt/Getty Images

  • Most households can’t even fund a $500 emergency.

While the wealthiest 25 individuals in the United States today own $1 trillion in combined assets, other households are drowning in debt. The Billionaire Bonanza report dubs these homes as “underwater households,” meaning they have zero or negative net worth.

Unfortunately, 19% of all households fall into this category, while over 30% of black households and 27% of Latino households have nothing to fall back on. Its obvious that families with little savings endure enormous stress should they face a job loss, illness, or even unexpected car trouble. More than 60% of Americans claim they don’t have enough reserves to cover a $500 emergency, according to the report.

More Articles About:   , ,