America’s Wealth Divide: 12 Richest Billionaires Hold $2 Trillion

The combined net worth of America’s 12 richest individuals has reached an astonishing $2 trillion, which is just $1.8 trillion shy of the total wealth held by the bottom 50% of the U.S. population, according to data from the Federal Reserve Bank of St. Louis. This stark comparison underscores the growing economic inequality in the nation.

As of December 3, the list of America’s wealthiest includes prominent figures such as Elon Musk, CEO of Tesla and SpaceX; Jeff Bezos, founder of Amazon; Mark Zuckerberg, creator of Facebook; and Bill Gates, co-founder of Microsoft. Together, these billionaires have amassed fortunes that rival the collective net worth of half the country’s population, which stood at $3.82 trillion in the second quarter of this year.

The group of 12 wealthiest Americans continues to evolve, with Nvidia CEO Jensen Huang entering the list this month. Huang, whose wealth surged by an extraordinary 2,504% since 2020, now boasts a net worth of $122.4 billion, making him the ninth richest American. His fortune is closely linked to Nvidia’s dominance in the artificial intelligence sector, as the company produces critical computer chips used in AI systems. Analysts have speculated that Huang could have been the world’s first trillionaire had he increased his ownership stake in Nvidia from 3.5% to 40%.

Elon Musk, who has seen a 1,256% increase in his wealth over the past four years, remains the richest American. His fortune is primarily derived from his 12% stake in Tesla and his 42% ownership of SpaceX, which is now valued at $210 billion. Musk also owns 54% of the AI-focused startup xAI, which he founded in 2023 and is currently valued at $50 billion. However, his purchase of the social media platform X (formerly Twitter) in 2022 has not contributed positively to his wealth, as the platform is now worth 70% less than when he acquired it.

The staggering concentration of wealth among these 12 men has reignited discussions about economic inequality in the U.S. Former Secretary of Labor Robert Reich described the situation as a crisis, stating on X (formerly Twitter) that wealth inequality is “eating this country alive.”

California, home to most of America’s billionaires, illustrates this disparity. Despite being a hub of wealth, the state’s median household income ranks fifth nationally, revealing a disconnect between the presence of extreme wealth and the financial realities faced by the majority of residents.

The Federal Reserve Bank of St. Louis further highlighted the deepening wealth gap in the U.S. Its analysis found that by 2022, the bottom 50% of Americans held just 2% of the country’s wealth, while the top 10% controlled 74%.

This growing divide continues to raise concerns about the future of economic balance in the U.S., as the wealthiest few accumulate resources at a scale that vastly outpaces the majority of the population.

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