The 50 richest US families are worth $1.2 trillion. The 65 million families in the bottom half of US households are worth $2.5 trillion.
America's 10 wealthiest billionaire families saw their median wealth grow by 25% in 2020, per a report from left-leaning Institute for Policy Studies.
Low employment for young Americans risks long bouts of future unemployment, lower earning potential, and weaker economic growth, a Fed study said.
Americans who lived through rampant inflation in the 1970s are bracing for much stronger price growth than their younger peers, Deutsche Bank said.
Millennials need more than money. The stimulus stops the affordability-crisis bleeding, but the younger generation needs a seat at the table.
Countries with high income inequality tend to have low upward economic mobility, which can affect the opportunity for future generations to move up the social ladder. The “Great Gatsby Curve” was made famous by Alan Krueger, late economist and former chairman of the Council of Economic Advisers. Krueger expanded upon […]
A trust fund shelters a person’s assets from probate and allows them to choose how and when their assets are distributed to their heirs. A trust must be set up as either revocable or irrevocable – meaning it can or cannot legally be altered during their lifetime – and have […]
Income inequality has reached a record high since the US Census began tracking it 50 years ago, reported Taylor Telford for The Washington Post, citing new US Census data. The median household income has barely grown in 20 years when adjusted for inflation – and it signals a shrinking middle […]
The Mars family has a net worth of nearly $US90 billion and helms Mars Inc., the candy empire that brought you Snickers, Twix, and M&M’s. The six family members that rank on the Forbes 400 list have a reported fortune of $US72 billion, making them America’s third-richest family “dynasty,”according to […]
The Cathys are the family behind Chick-fil-A, a popular and highly profitable fast-food chain. Dan and Bubba Cathy, the company’s CEO and executive vice president, respectively, have a reported collective fortune of $US11 billion, making them America’s 15th-richest family “dynasty,”according to a recent report. In 2018, Chick-fil-A generated more than […]
Income inequality in the US has reached a record high, reported Taylor Telford for The Washington Post, citing US Census data released this week. The fortunes of wealthy family dynasties in the US have been increasing, according to a 2019 report by the left-leaningInstitute for Policy Studies. The report looked […]