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It still has ways to go before it reaches Bastille levels
by seydor 10mo ago
It still has ways to go before it reaches Bastille levels
- lostlogin 10mo agoIt’s almost flat lining. I’m pleasantly surprised. Despite the recent faster growth at the top, the total shares of wealth held by the upper echelon has remained fairly stable for decades. The top 1% held 29% of total household wealth in the second quarter, compared with 28% in 2000. The top 10% held 67% of total household wealth in the quarter while the bottom 90% held 33%.
- grunder_advice 10mo agoI think this is just because wealth distribution is a powerlaw with extreme concentration at the far end. For example in this graph you can see a trend, the closer to the top, the steeper the line. https://imgur.com/a/6omRYu3 https://imgur.com/a/6omRYu3 As an extreme case, let's look at the top 3 billionaires in 2000 and 2025 respectively. 2000 Gates, Ellison, Allen $135 billion vs. $42.0 trillion ≈0.32 % 2025 Musk, Ellison, Zuckerberg $957 billion vs. $172.9 trillion ≈0.55 %
- an0malous 10mo agoI didn’t know that, I would’ve guessed we’re pretty close already. What would that level be?