Michael Bloomberg Has Six Times More Wealth Than the Bottom 125 Million Americans

Michael Bloomberg is so rich it's hard to comprehend. So here's a comparison: the bottom 38 percent of US households have a collective net worth of $11 billion. Bloomberg alone has $64 billion.

Presidential Candidate Mike Bloomberg Holds Campaign Rally In Salt Lake City

Democratic presidential candidate and former New York City mayor Mike Bloomberg speaks to supporters at a rally on February 20, 2020 in Salt Lake City, Utah. George Frey / Getty


Michael Bloomberg’s net worth is $64.2 billion, according to Forbes. This makes him the eighth wealthiest person in America. Wealth at that scale is hard to comprehend, and so it can be useful to compare it to something else. And if you are trying to highlight the high level of inequality in the country, the best thing to compare it to is the wealth held by those at the bottom of our society.

Every three years, the Federal Reserve releases its Survey of Consumer Finances (SCF), which is the best household wealth survey in the country. In the latest SCF data, the bottom 38 percent of American households have a collective net worth of $11.4 billion, meaning that Michael Bloomberg owns nearly six times as much wealth as they do.

The bottom 38 percent of households is equal to around 47.8 million households. Since households have an average of 2.63 members, this is equal to about 125.7 million people. Thus, Bloomberg’s wealth is nearly six times greater than the wealth of the bottom 125 million people combined.

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