Top 10 US billionaires' collective wealth grew by $698bn in past year - report

Source: The Guardian - British newspaper

The collective wealth of the top 10 US billionaires has soared by $698bn in the past year, according to a new report from Oxfam America published on Monday on the growing wealth divide.

The report warns that Trump administration policies risk driving US inequality to new heights, but points out that both Republican and Democratic administrations have exacerbated the US’s growing wealth gap.

Using Federal Reserve data from 1989 to 2022, researchers also calculated that the top 1% of households gained 101 times more wealth than the median household during that time span and 987 times the wealth of a household at the bottom 20th percentile of income. This translated to a gain of $8.35m per household for the top 1% of households, compared with $83,000 for the average household during that 33-year period.

Meanwhile, over 40% of the US population, including nearly 50% of children, are considered low-income, with family earnings that are less than 200% of the national poverty line.

https://www.theguardian.com/us-news/2025/nov/03/wealth-billionaires-increase-trump

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