Black American wealth is increasing, with median net worth rising 60% between 2019 and 2022, marking a period of significant economic gains. Despite this growth, the racial wealth gap is widening, as the absolute dollar difference in wealth between Black and white households has increased, with white families holding six times the average wealth of Black families.
Overall, white household average wealth grew 68%, from $918,000 to about $1.5 million, since the end of the Great Recession; Black household average wealth grew 53%, from $231,000 to $352,000; and Hispanic household average wealth grew 63%, from $175,000 to $285,000.
White families, for instance, typically have more wealth than other racial and ethnic groups. In fact, white families have an average net worth six times greater than that of Black and Hispanic families. Yet white families do not hold the greatest average wealth of any racial group in the US.
The Saudi Cup (G1), raced over 1,800 meters (about 1 1/8 miles) on dirt at King Abdulaziz Racetrack in Riyadh, Saudi Arabia, immediately became the richest in the world when set at $20 million on its inaugural running — a purse it has maintained through 2022.
This group is not the same as the Afro-Latino population, as not all Black Hispanics identify as Afro-Latino and not all Afro-Latinos identify as Black or Hispanic. The Black population in the U.S. has grown by a third since 2000, from 36.2 million then to 48.3 million in 2023.
White demographic decline has been statistically observed by academics in relation to countries which conduct a national census and include a white racial or ethnic category. Notable experts and scholars of a multitude of fields of study have observed the demographic phenomenon of falling white demography.
White British households hold the most wealth (£282,000), closely followed by Indian groups (£266,000).
The pyramid shows that: half of the world's net wealth belongs to the top 1%, top 10% of adults hold 85%, while the bottom 90% hold the remaining 15% of the world's total wealth, top 30% of adults hold 97% of the total wealth.
In 2021, households with a White householder made up 65.3% of all U.S. households and held 80.0% of all wealth. Those with a Black householder made up 13.6% of all U.S. households but held only 4.7% of all wealth.
The wealthiest dynasties in the world have never been richer — and the Waltons lead the pack with a net worth of $513.4 billion.
In 2022, white families had a median net worth of $284,300 compared to $62,000 for Hispanic families, $44,100 for Black families, and $132,200 for families of another race. Overall, the net worth of white families reached $135 trillion in the third quarter of 2024, roughly 84% of net worth overall.
United States Total Fertility Rate: Black data was reported at 1,581.000 % in 2023. This records a decrease from the previous number of 1,639.000 % for 2022.
Operating In the Black
Essentially, it means that the entity is financially solvent and able to cover its costs while still having money left over. Being “in the black” is a positive indicator of financial health and sustainability.
The continent is currently home to 25 billionaires, 348 centi-millionaires, and 122,500 millionaires — with Sub-Saharan Africa's economy forecast to grow by 3.7% in 2025 — outpacing Europe (0.7%) and the US (1.4%) — with growth projected to reach 4.1% in 2026.
Henley & Partners, a wealth management firm who market “golden passports” and residence visas, release figures they claim show an 'exodus'. According to their calculations, some 9,500 high-net-worth individuals left Britain in 2024. That sounds dramatic but represents roughly 0.3% of the UK's millionaire population.
Key Takeaways
So why are Americans so much wealthier than us? The Social Market Foundation (SMF), a think tank, calculated that the US is almost a third richer than the UK. This is largely due to wage growth since the financial crisis, which was, according to the Institute for Fiscal Studies, the “worst in generations” in the UK.
Main facts and figures
According to a parliamentary research report on poverty in the UK, based on the Households below average income statistics, relative low income rates were highest for people in households in the Pakistani or Bangladeshi ethnic group. Rates were lowest in White households.
Indian origin households lead as the UK's wealthiest ethnic group, as per a report by LSE, with median wealth jumping from £93,000 from 2012/14 to 2021/23 - outpacing others through hard work, homeownership and smart investments.
The richest black man in history is widely considered to be Mansa Musa I, the 14th-century ruler of the Mali Empire, whose immense wealth from gold and salt reserves is estimated to be worth over $400 billion in today's money, making him possibly the wealthiest person ever. While modern figures like Aliko Dangote (Africa's richest man) and historical figures like Reginald F. Lewis (wealthiest African-American at his death) are significant, Mansa Musa's legendary riches from controlling vast gold mines surpass them all.
Colored is a term with a problematic history in the US; person of color, African-American, and black, are acceptable terms to refer to people of African ancestry. Oriental is outdated because it treats all people of east, south, southeast, and middle-eastern origins as the same.