The Forbes 400, the annual wealth list published today by Forbes Magazine, have a combined wealth of $2.68 trillion. This is greater than the combined wealth of the bottom 64 percent of all U.S. households, according to a new report from the Institute for Policy Studies.
“If left unchecked, wealth will continue to accumulate into fewer and fewer hands, a trend we’ve been witnessing for decades,” said Josh Hoxie, report co-author. “The time to reverse this trend is past due.”
“We have a billionaire problem in the United States,” said Chuck Collins, the coauthor of the report. “The concentration of wealth at the top is a troubling trend for a democratic society.”