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African Americans Vs White People Essay

Decent Essays

100 White People Have More Money Than All African Americans Combined

The Institute for Policy Studies recently released a report on wealth in America. The survey looked at a number of statistical breakdowns of our countries wealth from simple dollars in the bank to overall net worth to land holdings. To give some perspective to the numbers, let's start with some basic understandings:

The United States currently has a population of just under 320 million people.
There are approximately 120 million American households
One percent of America's population is 3.2 million people.
One percent of Americas households equates to 1.2 million households.
There are about 42 million blacks in the United States.
Of the 1.2 million households, 83 million are white and about 14 million are black.

When thinking of these numbers, consider that the top 5 landowners in the United States are white and own more land than all of the African Americans in the country combined. In addition, the top 100 of the wealthy white Americans have more net worth than all blacks combined. The top 186 have more than all Latinos combined. Granted, that same …show more content…

The author pointed to the main source of wealth derivation among the top households, which is inheritance. While there are those such as Bill Gates, Steve Jobs, and Mark Zuckerberg who built their companies from the ground up and did not come from wealth, they also did not come from abject poverty or substandard inner-city schools. They had opportunities that were not afforded to many of the black and Latino youth of their generation. Of those who inherited their wealth, black families did not have that opportunity either, as "practices of enslavement, violence, Jim Crow, discrimination and dispossession of property have kept generations of African Americans from accruing the type of wealth that whites in the top 1 percent have

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