The United States is grappling with significant wealth inequality, as recent data highlights a stark divide between the richest and the average American household.
By the end of 2023, the total net worth of American households soared to a record-breaking $156.2 trillion. With roughly 130 million households across the nation, this translates to an average net worth of about $1.2 million per household. However, this figure masks a deeper reality.
The median net worth per household, according to the Federal Reserve's 2022 analysis, stands at $192,000. This means that half of all U.S. households have a net worth below this amount, holding just 2.4% of the total national wealth.
Such disparities underscore the challenges faced by many Americans in building and maintaining financial security, despite the overall growth in national wealth.
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Graphics: Half of American households hold just 2.4% of U.S. wealth
cgtn.com
