While the global COVID-19 pandemic has been devastating for most people in the world, for a select group of people it has been a boom time: billionaires. That group has seen their wealth skyrocket by a combined $5.5 trillion since the beginning of the...
There’s a glaring—and widening—divide in our country. A 2017 report from the Institute for Policy Studies projected that in 2020, the median white household will have 86 times more wealth than its black counterpart and 68 times more than its Latino one. This is...
Walmart’s CEO makes 1,076 times what some of the company’s workers make in a year. The discount giant is not alone. Workers at 50 U.S.-based corporations would have to work at least 1,000 years to make what their CEOs did in just one year in 2018. The biggest culprit...
Let’s say you learned about an investment method that rewards people for putting money into an account that’s earmarked for future charitable use. Theoretically, it would allow contributors to let their donations appreciate as they figure out who they want to give...
Black families currently have a median wealth of $3,600, compared to white households’ $147,000. It could take black Americans as many as 228 years to reach the level of wealth white households currently control. And that’s an optimistic forecast: A report from the...
There are plenty of obstacles for professionals and entrepreneurs of color: a wage gap, a funding gap, and plenty of discrimination. But for many there’s also an unspoken challenge while trying to build their companies, their career, or their wealth. A common...
When Martin Luther King, Jr. was assassinated in 1968, he was in the midst of organizing what was called the Poor People’s Campaign. Its premise was straightforward: The fight for civil rights had to include economic justice and equal opportunity for black people to...
In America, unless you are already wealthy, the chances of you getting rich–or even just earning enough to live securely–are slim. This year, the nonprofit think tank Economic Policy Institute found that CEO pay grew by over 17% last year, while regular worker...
Here’s an often-cited fact about wealth disparity in the United States: The top 1% of the country owns more wealth than the bottom 90% does combined. But let’s put some faces to the numbers, shall we? To begin with, the three wealthiest people in the United...
Some philanthropic donors may be promising to give a lot of money to charity in order to get a nice tax break–but ultimately not delivering on the cash. The trick is the use (or perhaps abuse) of donor-advised funds, a type of savings and investment haven that allows...
The wealth gap between black and white Americans is a problem that most people are aware of in the abstract. The depths of the issue, however are more than most people realize. At the current pace, the problem isn’t going away anytime soon. Wealth disparity between...
