IIRC a current statistic is that the top 10% overall own 60% of the wealth.
Also I believe that actual surviving boomers are underrepresented in that 10% compared to the general population now. And that trend can be expected to continue predictably.
I would expect many/most billionaires to be boomers or older. It takes time to accomplish anything. Idk how many are "new money" vs "old money" (majority inherited) but I sure don't expect a high proportion of young people among the ultra wealthy.
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I'm also always curious to know what happens if you remove wealthy boomers from this pool.
I forget the exact numbers, but let's say ten billionaires own 50% of all the wealth in the US; how many of those folks are boomers?
That'd remarkably change this ratio if it were the case that much of this wealth is held by only a few very wealthy boomers.
If anyone's curious, from https://www.federalreserve.gov/releases/z1/dataviz/dfa/distr...
- Top 1% -> 31.0% of total US household wealth
- Top 10% but excluding the top 1% -> 36.4% of total US household wealth, i.e. the top 10% have 67.4% of total US household wealth
- The bottom 90% -> 32.6% of total US household wealth
IIRC a current statistic is that the top 10% overall own 60% of the wealth.
Also I believe that actual surviving boomers are underrepresented in that 10% compared to the general population now. And that trend can be expected to continue predictably.
I would expect many/most billionaires to be boomers or older. It takes time to accomplish anything. Idk how many are "new money" vs "old money" (majority inherited) but I sure don't expect a high proportion of young people among the ultra wealthy.