What is in 0.01%? 11.1% of national wealth!

Top Tenth of 1 Percenters Reaps All the Riches - Businessweek: "The message for strivers is that if you want to be very, very rich, start out very rich. The threshold for being in the top 0.1 percent of tax filers in 2012 was wealth of about $20 million. To be in the top 0.01 percent—that’s the 1 Percent club’s 1 Percent club—required net worth of $100 million. Of course, even $100 million is a pittance to Bill Gates, whose net worth, according to the Bloomberg Billionaires Index, is nearly 800 times that.

STORY: The World’s 85 Richest Are Now Worth as Much as 3.5 Billion Poorest
Saez and Zucman’s figures are so new that there is no academic paper to accompany them. According to a presentation posted online, the conventional wisdom among economists has been that inequality in wealth has grown less than inequality in income. Attempts have been made to explain the supposed discrepancy: Maybe the working rich hadn’t had time to accumulate wealth, the theory goes, or maybe their income was going to high taxes or charity or low-yielding investments, “preventing them from accumulating large fortunes.”"



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