TOTAL WEALTH OF 200 RICHEST AMERICANS REACHES $7 TRILLION

WASHINGTON, SEPTEMBER 18 /SRNA/ – The combined wealth of nearly 200 Americans who appear on the list of the world’s richest people is estimated at approximately $7 trillion, four times higher than it was 10 years ago, Bloomberg reported.

In addition, according to estimates by the US Federal Reserve, the wealthiest 0.1% of the American population owns at least another $18 trillion. Citing data from its Billionaires Index, Bloomberg reported that this group of the wealthiest Americans consists of approximately 136,000 families, with an average net worth of $184 million. There are indications that their wealth is growing at a pace that is nearly keeping up with the growth in wealth among the richest billionaires. Economists Owen Zidar and Eric Zwick point out that the typical path to joining the ranks of America’s wealthiest leads through law and consulting firms, healthcare institutions, construction companies, and manufacturing businesses, Bloomberg reported. They noted that the typical wealthy owner of such a business is 62 years old.