"New research published Monday shows that the 10 richest people in the United States have seen their collective fortune grow by nearly $700 billion since President Donald Trump secured a second term in the White House and rushed to deliver more wealth to the top in the form of tax cuts. The billionaire wealth surge that has accompanied Trump's return to power is part of a decades-long, policy-driven trend of upward redistribution that has enriched the very few and devastated the working class,"
"Between 1989 and 2022, the report shows, the least rich US household in the top 1% gained 987 times more wealth than the richest household in the bottom 20%. As of last year, more than 40% of the US population was considered poor or low-income, Oxfam observed. In 2025, the share of total US assets owned by the wealthiest 0.1% reached its highest level on record: 12.6%."
Ten richest Americans increased their collective fortune by nearly $700 billion since President Donald Trump won a second term and enacted tax cuts benefiting the wealthy. Between 1989 and 2022, the least rich household in the top 1% gained 987 times more wealth than the richest household in the bottom 20%. More than 40% of the US population was considered poor or low-income as of last year. In 2025, the wealthiest 0.1% owned 12.6% of total US assets, the highest share on record. The Trump administration and Republican Congress actions accelerated upward redistribution and intensified inequality.
Read at Truthout
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