The Top 50 richest Americans hold half of the U. S’s wealth

Many Americans are totally oblivious of the huge wealth disparity that we face today.

Bloomberg Wealth reports

The 50 richest Americans now hold almost as much wealth as half of the U.S., as Covid-19 transforms the economy in ways that have disproportionately rewarded a small class of billionaires.

New data from the U.S. Federal Reserve, a comprehensive look at U.S. wealth through the first half of 2020, show stark disparities by race, age and class. While the top 1% of Americans have a combined net worth of $34.2 trillion, the poorest 50% — about 165 million people — hold just $2.08 trillion, or 1.9% of all household wealth.

On pages 56-57 of Message To The Blackman in America, in the Chapter “Original Man,” section “Help Self: What Must Be Done With The Negroes?”, the Honorable Elijah Muhammad writes:  “As a people, we must become producers and not remain consumers and employees.  We must be able to extract raw materials from the earth and manufacture them into something useful for ourselves! This would create jobs in production. We must remember that without land there is no production. (Minister Farrakhan The Time and What Must be Done Part 31)

The surplus of what we produce we would sell. This would develop a field of commerce and trade as other free and independent people whose population is lessthan that of the [now over 40 million] so-called Negroes who are dependent in America

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Hasan Ali NNV Writer


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