In the U.S. there are 496,000 such households, out of 113 million total households in the U.S.. That’s much more than the rest of the world combined (I’m deducing that from the fact that the chart gives us numbers for the top 25 countries, which total 376,000 households. But No. 25, Poland, only 1,000, and so all other countries would have less than that).
That means those half a million American families have a minimum of $14.8 trillion of wealth, and the real number is far higher than that since I got it by multiplying the $30 million minimum by 496,000. Presumably, almost none of them are worth exactly $30,000,000.00.
Total household wealth in the U.S. was $57 trillion in the first quarter, so if the Deloitte numbers are correct, it means 0.4 percent of families control, at a minimum, 26 percent of the country’s wealth.
Another 2.2 million American households are super-wealthy, worth between $5 million and $30 million. That would mean a minimum of $11 trillion of wealth and the top 2.3 percent of households would own at least 45 percent of all the wealth and probably more like 60 percent or 70 percent, when considering the billionaires and centimillionaires in that $30 million-plus cohort..
The upshot: Wealth is going to get even more concentrated over the next decade, if Deloitte’s projections prove to be halfway correct.
(h/t Zero Hedge)
Ryan, Ryan. As everyone knows, $30 million liquid isn't "ultra-wealthy." It's middle class. Lower middle class. Heck, even $20 million a year is just getting by, as Chrystia Freeland's readers learned a few months ago.
http://blogs.citypaper.com/index.php/2011/01/the-atlantic-monthly-goes-galt-to-a-fault/
#1 Posted by Edward Ericson Jr., CJR on Mon 23 May 2011 at 04:20 PM