According to the central bank, those born between 1981 and 1996, better known as Millennials, control only 4.6% of the wealth in the country even though they make up the majority of the workforce, with around 72 million people. While it is not unusual for younger people to accumulate
  • Elechicken@lemmy.ca
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    10 måneder siden

    I saw this number posted before and someone figured out that Zuckerberg is part of the Millenial group. With him removed, the percentage was closer to 2%.

    • Kecessa@sh.itjust.works
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      10 måneder siden

      That was a bad interpretation, Zuckerberg isn’t a trillionaire. He owns 2% of his generation’s wealth, so 2% of 4.6%.

  • Joe-Blow240@kbin.social
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    10 måneder siden

    1% of the United States owns 40% of the economy. 10% owns 70% of the economy. 25% of families have less than $10,000 in wealth.

    Millennials weren’t the first to get screwed, but they were screwed from birth.

  • Kecessa@sh.itjust.works
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    10 måneder siden

    Copy pasted from another discussion on the same subject:

    Good news, that’s the real trickle down economics, inheritances!

    But on a more serious note, it’s not that good a comparison, what we need to check is what % of the wealth the previous generations controlled at this point in their history (when the generation was in its mid twenties to early forties) because they too were the biggest workforce without owning most of the wealth, that’s just how things go, you accumulate wealth over time, they have decades ahead of us. They surely owned more than we do now, but it’s certainly not as big a difference.

    In the end what I’m seeing is just another piece to divide those at the bottom so they don’t pay attention to the people that truly own a disproportionate amount, like Zuckerberg that owns 2% of the millennial’s wealth. This guy is 0.000000003% of US’s population and owns close to 0.1% of its population’s wealth.

    • rob64@startrek.website
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      10 måneder siden

      You shouldn’t be down-voted. You’re not contradicting the argument that there’s serious income inequality and that there’s a general component. You’re just adding nuance.

      • Kecessa@sh.itjust.works
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        10 måneder siden

        I wasn’t in the other discussion, kind of weird that I am here, but whatever 🤷 maybe we’ve got a billionaire with us in the room 🤔

  • EatATaco@lemm.eeEnglish
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    10 måneder siden

    I’ve seen this discussion in 2 places and have seen no one ask the important question: how does this compare to other generations at the same age for them? The article kind of alludes to them lagging there too, but then just does the 2020 breakdown.

    Anyone know the answer or where I can find it?

  • derf82@lemmy.worldEnglish
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    10 måneder siden

    People will claim millennials will inherit the wealth of the boomers as their children. But most won’t. It will be spent on cruises, gambling, healthcare, assisted living, nursing homes, and so on.

    I expect to inherit nothing.