Yes, combined. 25% of the US population has 0 or negative net worth. Combine those and the sum is well south of 0, so if you have a positive net worth, you're

Yes, combined. 25% of the US population has 0 or negative net worth. Combine those and the sum is well south of 0, so if you have a positive net worth, you're worth more than the bottom 25% combined (and then some, because the people with negative net worth would average out some of those positive net worth).