0.001% wealthiest households in Silicon Valley hold 12 times more wealth than the bottom 50%, with total wealth of almost $2 trillion, while one-quarter of residents have less than $5,000.
30% households in Silicon Valley are not self-sufficient due to income disparities, with average per capita incomes ranging from $36,000 for Latinos to $101,000 for white workers.
Income disparities result in one-third of the population unable to meet basic needs, with rent for a 2-bedroom apartment in San Jose almost matching the average monthly income for some demographic groups.
Implications of wealth disparities in Silicon Valley underscore challenges for a significant portion of the population, according to Russell Hancock, CEO of Joint Venture Silicon Valley.
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