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Friday, February 3, 2023

Big Picture

The Richest 1% Of U.S. Households Saw Their Net Worth Rise By $4 trillion

Prof. Dr. Amarendra Bhushan DhirajProf. Dr. Amarendra Bhushan DhirajBig Picture

The richest 1% of Americans saw their net worth rise by $4 trillion in 2020 (or captured about 35.2% of the extra wealth generated nationwide), according to the latest data available from the U.S. Federal Reserve. The poorest half of the population, by contrast, got about 4% of overall gains ($470.6 billion).

Widening wealth gaps: Richest U.S. households took the majority of the overall gains in 2020

  1. Top 1%
    Annual change: $4,028.3 billion
    Share: 35.2%
  2. Next 9%
    Annual change: $3,978.8 billion
    Share: 34.8%
  3. Next 40%
    Annual change: $2,969.2 billion
    Share: 25.9%
  4. Bottom 50%
    Annual change: $470.6 billion
    Share: 4.1%

Note: Number of households represented by the top 1% 1,277,564, next 9% 11,509,938, next 40% 51,158,278, bottom 50% 63,949,595.

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Prof. Dr. Amarendra Bhushan Dhiraj

Prof. Dr. Amarendra Bhushan Dhiraj

Prof. Dr. Amarendra Bhushan Dhiraj is a media and technology executive, macro-economist, strategic thinker, chair, and chief executive officer of the CEOWORLD magazine, one of the world’s most influential and recognized global news publications. Under Dr. Amarendra's leadership, CEOWORLD magazine has become the world's most iconic news organization, whose rigorous reporting and unsurpassed storytelling connect with millions of business leaders daily. Additionally, he serves as the chair and founding member of the CEOWORLD magazine’s Inclusion Advisory Board.

In his current role, he counsels and collaborates with c-suite executives of large multinational corporations, helping them drive change in their companies to improve their competitiveness. Dr. Amarendra has extensive experience in serving on numerous boards. He leads and supports a globally dispersed team of columnists, correspondents, editors, journalists, reporters, researchers, and industry analysts.

He received his Ph.D. in Finance and Banking from the European Global School, Paris, France. He also received his Doctoral Degree in Chartered Accountancy from the European International University Paris, France, and a Doctorate in Business Administration from Kyiv National University of Technologies and Design (KNUTD), Ukraine. He earned his Master of Business Administration degree in Finance and his master’s degree in Chartered Accountancy (CA) from European Global School Paris. Dr. Amarendra also holds a Master of Business Administration degree in International Relations and Affairs from the American University of Athens, Alabama, United States.

As CEO, he transformed the CEOWORLD magazine into a highly efficient, digital-first, profitable enterprise. Today, CEOWORLD magazine is a standard bearer for modern responsible journalism. Dr. Amarendra retains a strong desire to continuously improve his skills and abilities and believes that the first step to being a true leader is to inspire others to lead with you.

Prof. Dr. Amarendra Bhushan Dhiraj is the CHAIR, CEO, AND EDITORIAL DIRECTOR of the CEOWORLD magazine. Connect with him through LinkedIn.
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