The yearly Forbes 400 list of the wealthiest Americans found that the net worth of the super-rich has climbed during the last 12 months. The income gap continues to expand, as the middle class recedes.
Wealthier rich
There was a 13 percent increase in the net worth of the 400 wealthiest people in the country over the last year, an increase of $1.7 trillion, according to Forbes. NBC News explained that the 400 people make up about 12.5 percent of the country.
The typical net worth per person in the 400 is higher than it has ever been at $4.2 billion.
Stock growth and a rebounding real estate market made it so 261 of the 400 reported their income increasing for a year.
Wealthy not anything new
The list contained familiar and expected names. The rankings of the top five stayed unchanged from 2011, although their net worth had risen: Bill Gates, Warren Buffett, Larry Ellison, Charles and Koch (tied for fourth) and Christie Walton.
Gates, chairman of Microsoft, has headed the list for the last 19 years. He saw his worth grow by $7 billion to $66 billion. Warren Buffett of Berkshire Hathaway, saw his worth rise by $7 billion. Larry Ellison, head of Oracle Corp, got the largest raise, however, with a rise of $8 billion.
Minority report
A notable exception to the trend of increasing net worth was social network mogul Zuckerberg, who lost nearly half of his net worth after his cash cow Facebook went public. This year, he is scraping by on $9.4 billion.
Massive gap
The Economic Policy Institute did a study last week that discovered that there have been large increases to more than double the gap between the rich and average earner. In 1961, the rich only made 125 percent more in the top one percent of earners. That number increased to making 288 percent more in 2010.
The worth of the wealthy is increasing despite the belief that most Americans are seeing decreases in wealth lately.
While the trend has been active for decades, the Economic Policy Institute report noted that the gap has widened at a more rapid pace since the Great Recession.
Wealthier rich
There was a 13 percent increase in the net worth of the 400 wealthiest people in the country over the last year, an increase of $1.7 trillion, according to Forbes. NBC News explained that the 400 people make up about 12.5 percent of the country.
The typical net worth per person in the 400 is higher than it has ever been at $4.2 billion.
Stock growth and a rebounding real estate market made it so 261 of the 400 reported their income increasing for a year.
Wealthy not anything new
The list contained familiar and expected names. The rankings of the top five stayed unchanged from 2011, although their net worth had risen: Bill Gates, Warren Buffett, Larry Ellison, Charles and Koch (tied for fourth) and Christie Walton.
Gates, chairman of Microsoft, has headed the list for the last 19 years. He saw his worth grow by $7 billion to $66 billion. Warren Buffett of Berkshire Hathaway, saw his worth rise by $7 billion. Larry Ellison, head of Oracle Corp, got the largest raise, however, with a rise of $8 billion.
Minority report
A notable exception to the trend of increasing net worth was social network mogul Zuckerberg, who lost nearly half of his net worth after his cash cow Facebook went public. This year, he is scraping by on $9.4 billion.
Massive gap
The Economic Policy Institute did a study last week that discovered that there have been large increases to more than double the gap between the rich and average earner. In 1961, the rich only made 125 percent more in the top one percent of earners. That number increased to making 288 percent more in 2010.
The worth of the wealthy is increasing despite the belief that most Americans are seeing decreases in wealth lately.
While the trend has been active for decades, the Economic Policy Institute report noted that the gap has widened at a more rapid pace since the Great Recession.
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