The Federal Reserve Bank of Minneapolis found Black Americans hold about 4% of the total wealth in the United States. “Put another way: The wealth of the richest 400 Americans is approximately equal to that of 43 million Black Americans,” the report says.
In comparison, white Americans hold 84% of the total wealth.
As the racial wealth gap grows, access to equity in healthcare, education, housing, employment, and financial stability moves further from reach for Black folks.
“We simply want the federal government to do what it should, and that is to eliminate the racial wealth gap,” Mullen says. “For us, the racial wealth gap is a very clean, simple indicator of the cumulative effects of intergenerational white supremacy in this country.”
In comparison, white Americans hold 84% of the total wealth.
As the racial wealth gap grows, access to equity in healthcare, education, housing, employment, and financial stability moves further from reach for Black folks.
“We simply want the federal government to do what it should, and that is to eliminate the racial wealth gap,” Mullen says. “For us, the racial wealth gap is a very clean, simple indicator of the cumulative effects of intergenerational white supremacy in this country.”
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