The publication of the rich list follows reports of stunning declines in median net wealth in the United States. The median net worth of the average American household fell 40 percent between 2007 and 2010 to approximately the level recorded in 1992, according to the US Federal Reserve. Since 1982 the net worth of those on the Forbes 400 list has grown 15-fold while wealth of the average household has stagnated.
Collectively the wealthiest five individuals are worth $34 billion more than one year ago. That amounts to an increase more than triple last year’s rise. Overall only 66 of the 400 saw their net worth shrink while 241 enjoyed an increase.
“The gap between the very rich and the merely rich increased and helped drive up the average net worth of the Forbes 400 members to an all-time record,” said Forbes Senior Wealth Editor Luisa Kroll.
Ask me if a society can last long when a handful of people get even richer at everyone else's expense.
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Why isn't this 99 senators rather than fewer than thirty? This illustrates just how anti-American our Congress is.
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