Meet the American oligarchs, starring Elon Musk

 

Graph from "The Morning", New York Times (4/26/2022)

"The billionaires' world"

Two years ago, the economists Emmanuel Saez and Gabriel Zucman published a statistic that you don’t normally see. It was the share of wealth owned by the richest 0.00001 percent of Americans. 

That tiny slice represented only 18 households, Saez and Zucman estimated. Each one had an average net worth of about $66 billion in 2020. Together, the share of national wealth owned by the group had risen by a factor of nearly 10 since 1982. [emphasis added]

Related reading:

Letters from an American by Heather Cox Richardson. (4/30/2022