White Americans Possess 22 Times More Wealth Than Black Americans

Tami Luhby, writing for CNN, highlighted the widening wealth gap between races.  In 2010, the median household net worth for whites was $110,729, whereas the median Hispanic and black household possessed a net worth of $7,424 and $4,955 respectively.  The median Asian household net worth was $69,590.  However, all three minorities were hit hard by the economic downturn, and from 2005 to 2010 the three minority groups saw their median household income decrease by about 60%.  On the other hand, the median white household experienced a drop in net worth of only 23%.  Today, white Americans possess 22 times more wealth than blacks, and that disparity has almost doubled since the recession.