The richest 1 percent now owns more of the country’s wealth than at any time in the past 50 years


Treasury Secretary Steven Mnuchin, right, and his wife, Louise Linton, hold up a sheet of new $1 bills on Nov. 15 at the Bureau of Engraving and Printing in Washington. (Jacquelyn Martin/AP) The wealthiest 1 percent of American households own 40 percent of the country’s wealth, according to a new paper by economist Edward N. Woolf . That share is higher than it has been at any point since at least 1962, according to Woolf’s data, which comes from the federal Survey of Consumer Finances .

From 2013, the share of wealth owned by the 1 percent shot up by […]