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US economy
2026-08-23 23:26:20

Top 1% US Households Hold More Wealth Than the Entire Middle Class, ABMedia Reports

The wealth held by the highest-earning 1% of US households now exceeds the combined wealth of America’s middle class, according to Federal Reserve data compiled by nonprofit data group USAFacts in July and cited by ABMedia. As of the first quarter of 2026, households in the middle 20% by income held about $13.6 trillion in wealth, or roughly 8% of total household wealth in the country, with average net worth of about $503,000 per household. By contrast, households in the top 1% by income had average net worth near $31 million, around 61 times that of middle-income households. Using wealth rather than income as the ranking measure, Federal Reserve statistics through the first quarter of 2026 show that the top 1% of households by net worth controlled 31.6% of US wealth. The middle 40% of households, those between the 50th and 90th wealth percentiles, held a combined 29.6%. ABMedia’s report also focuses on Silicon Valley, where high incomes and extreme wealth often exist side by side but do not translate into the same financial reality, especially as housing costs and asset ownership drive a widening gap in lived experience.

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Top 1% US Households Hold More Wealth Than the Entire Middle Class, ABMedia Reports
DeepSeek
2026-08-12 08:48:00

DeepSeek founder Liang Wenfeng’s net worth jumps 3,850% in one year

PANews, citing IT Home, reported on Aug. 12 that financial research firm bestbrokers compiled data from Forbes’ real-time billionaires ranking and found a sharp rise in the wealth of DeepSeek founder Liang Wenfeng. According to the report, Liang’s net worth climbed from $1 billion in 2025 to $39.5 billion in 2026 over the period from July 27, 2025 to July 27, 2026. Using the exchange-rate conversion listed in the article, those figures were equal to about 6.755 billion yuan and 266.837 billion yuan, respectively. The report said the increase amounted to 3,850% in a single year, placing Liang at the top of the global billionaire ranking by growth rate. The original item also carried a standard disclaimer saying the content was provided for market information only and did not constitute investment advice.

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DeepSeek founder Liang Wenfeng’s net worth jumps 3,850% in one year
SpaceX
2026-07-13 16:23:32

SpaceX slide pushes Elon Musk’s net worth below $900 billion

Elon Musk’s net worth fell below the $900 billion mark on Monday after continued weakness in SpaceX shares, according to BlockBeats. SpaceX dropped 3.8% to nearly $140, close to its $135 IPO price, while Tesla fell 3% over the same period. The pullback wiped $37.9 billion from Musk’s fortune, leaving him at $879.3 billion. Even after the decline, Musk remained the world’s richest person, ahead of Google co-founders Larry Page at $290.1 billion and Sergey Brin at $267.6 billion. The report said Musk holds 4.8 billion SpaceX shares and 350 million options, along with about 700 million Tesla shares. Musk’s fortune previously peaked at $1.45 trillion on June 16, when SpaceX traded above $225, a record high. Since then, the stock has fallen more than 38%. Despite the recent weakness, Wall Street analysts remain broadly bullish on SpaceX. Raymond James set an $800 target price, implying a market value above $10 trillion, while FactSet data showed an average analyst target of $236. Arete Research, Morgan Stanley and Goldman Sachs listed targets of $401, $300 and $205, respectively.

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SpaceX slide pushes Elon Musk’s net worth below $900 billion