Topic
Distribution of household wealth across generations and within cohorts, including top-decile concentration.
The Bridgewater founder said in a video for the World Economic Forum that over-investment in world-changing technology creates debt and then a bubble and then a bust. Fortune puts the dotcom version at a 77% Nasdaq fall.
Reality
A Milken Institute report says heirs are pushing their parents to give money away faster. Its evidence is a practitioner's observation and Scott's $26 billion, set against $18.3 trillion of billionaire wealth.
Reality
Eric Zwick and Owen Zidar spent months making the IRS's individual and business filing systems talk to each other. When they sorted the top 1% by pass-through profits, doctors and auto dealers came out near the top.
Reality
American millionaires now number in the tens of millions. The dollar figure that defines one has been eroding for three decades. Segmenting clients on a $1 million line sorts on a stale number.
Reality
Federal Reserve data put the second-quarter share at 48.23% of household financial assets. The wealthiest tenth of households owns about 87% of the equity wealth behind that record, and Goldman Sachs says the shift leaves consumer spending exposed to market swings.
Reality
A generation with 20% of the population owns more than half of US household wealth, but the top decile holds 71% of it and the average boomer carries $92,619 in debt.
Reality