Black people have a higher wealth gap than white people, according to a new study.
The study of more than 300,000 people found that the wealthiest 10% of Americans own 30% of all wealth in the U.S.
Black Americans own nearly a quarter of all assets and have the highest average wealth of all groups.
The report found that Black Americans had the highest median net worth of all racial groups, but the wealth gap between Black and white Americans widened as wealth increased.
“Black Americans have higher wealth than the other groups,” said Michael Baum, an economist at the Brookings Institution who co-authored the study.
“It’s not just that we have more wealth.
The gap is greater for Black people than for other racial groups.”
White Americans, on the other hand, have a wealth gap that’s comparable to the Black wealth gap, Baum said.
The report found the median net wealth of white people is $2,900, compared to $2.7 million for Black Americans and $2 million for Hispanics.
The median net net worth for Hispanic Americans is $1.4 million, and for white Americans, $2 billion, the report found.