How the Net Worth of an Average American Stacks Up Against the World's Richest in 2017
Alright, guys, let's dive into an interesting comparison. We're going to look at the net worth of your average American and see how it stacks up against the world's richest person in 2017. Buckle up, because we're talking some serious cash here! Guys, explore more in Net Worth and net worth up an average american richest person in the world 2017.
The Average American's Net Worth in 2017
First things first, let's talk about the average Joe. According to Credit Suisse, the average net worth of an American in 2017 was around $72,846. Now, that might seem like a decent chunk of change, but let's break it down to make it more relatable.
In simple terms, this means that the average American had:
- $41,865 in financial assets (like stocks, bonds, and cash) - $30,981 in real assets (like their home and car)
But remember, this is an average. That means there are people with much less, and others with much more. Now, let's see how this stacks up against the wealthiest person on the planet in 2017.
The Richest Person in the World in 2017
In 2017, the title of the world's richest person went to Jeff Bezos. Now, Jeff is the founder of Amazon, and at the end of 2017, his net worth was a staggering $100 billion. Yes, you read that right - billion with a 'b'.
So, how does Bezos's net worth compare to the average American's?
- Bezos's net worth was over 1,370 times that of the average American's in 2017. - If we were to compare the net worth of the average American to a single dollar bill, Bezos would have a stack of $100,000,000 bills.
Crazy, right? But wait, there's more!
The Top 1% vs. the Average American in 2017
You might be thinking, "Well, that's just one person. What about the top 1%?" Alright, let's compare the average American's net worth to the net worth of the top 1% in 2017.
According to Emmanuel Saez and Gabriel Zucman, the top 1% of American wealth holders had a net worth of $8,339,290 in 2017. That's 114 times the net worth of the average American.
In other words, the top 1% had:
- $4,746,820 in financial assets - $3,592,470 in real assets
The Wealth Gap in 2017
So, what does all this tell us? It tells us that there's a significant wealth gap in America. While the average American had a net worth of around $72,000, the top 1% had over $8 million, and the richest person in the world had over $100 billion.
But why does this matter? Well, wealth inequality can have significant impacts on society. It can affect everything from economic growth and political stability to social mobility and health outcomes.
How Did the Wealth Gap Change in 2017?
You might be wondering, "Did the wealth gap get bigger or smaller in 2017?" According to Saez and Zucman, the top 1% captured 20% of total income growth between 1993 and 2016. So, while the overall wealth gap didn't grow significantly in 2017, it's clear that the top 1% have been benefiting more than the rest of us from economic growth over the past few decades.
What About Other Countries?
Alright, let's take a quick look at how the average American's net worth compares to the average net worth in other countries.
According to Credit Suisse, the average net worth in the United States in 2017 was $72,846. Here's how that compares to a few other countries:
- Australia: $422,500 - Canada: $439,200 - United Kingdom: $318,300 - Germany: $215,600 - Japan: $246,600 - China: $18,200 - India: $7,020
So, while the average American's net worth is higher than in many other countries, it's not the highest. And remember, these are averages, so there's a lot of variation within each country.
Conclusion
Alright, guys, that's a wrap. We've compared the net worth of the average American to the world's richest person in 2017, and the results are... well, pretty eye-opening. While the average American had a net worth of around $72,000, the richest person in the world had over $100 billion. That's a huge wealth gap, and it's something that's worth thinking about.
But remember, this isn't just about the numbers. It's about the people behind those numbers. It's about the lives they lead, the opportunities they have, and the futures they can build for themselves and their families.
So, what do you think about the wealth gap in America? Is it too big, too small, or just right? Let us know in the comments below. And if you found this article interesting, be sure to share it with your friends and family. Until next time, stay curious!