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Wealth concentration levels and growth: 1989-2016, Accessible Data

Figure 1A. Share of net worth held by the top 1 percent, Survey of Consumer Finances and Saez and Zucman (2016, and updates)

Year Saez Zucman (2016, tax units) SCF (augmented, family level)
1989 0.2723 0.2647
1990 0.2742  
1991 0.2684  
1992 0.2831 0.2550
1993 0.2856  
1994 0.2844  
1995 0.2873 0.2923
1996 0.2959  
1997 0.3061  
1998 0.3169 0.2963
1999 0.3252  
2000 0.3333  
2001 0.3253 0.2909
2002 0.3163  
2003 0.3195  
2004 0.3309 0.2969
2005 0.3362  
2006 0.3457  
2007 0.3572 0.3070
2008 0.3798  
2009 0.3800  
2010 0.3945 0.3017
2011 0.3941  
2012 0.4077  
2013 0.3882 0.3130
2014 0.3907  
2015 0.3908  
2016 0.3864 0.3459

Note: blue shaded area are NBER recessions, SCF augmented to include household estimates of DB pension wealth, Forbes 400 families

The shaded bars indicate periods of business recession as defined by the National Bureau of Economic Research: July 1990–March 1991, March 2001–November 2001, and December 2007–June 2009.

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Figure 1B. Share of net worth held by the top 1 percent, including alternate measures, 1989-2016

Year Saez Zucman (2016, tax units) SCF (augmented, family level) DFA SZZ BHH
1989 0.2723 0.2647 0.2389 0.2450  
1990 0.2742   0.2379 0.2450  
1991 0.2684   0.2488 0.2400  
1992 0.2831 0.2550 0.2442 0.2500  
1993 0.2856   0.2612 0.2450  
1994 0.2844   0.2676 0.2415  
1995 0.2873 0.2923 0.2868 0.2500  
1996 0.2959   0.2766 0.2575 0.2938
1997 0.3061   0.2824 0.2700 0.2988
1998 0.3169 0.2963 0.2829 0.2900 0.3183
1999 0.3252   0.2820 0.3000 0.3215
2000 0.3333   0.2848 0.3050 0.3323
2001 0.3253 0.2909 0.2608 0.2900 0.3273
2002 0.3163   0.2530 0.2800 0.3083
2003 0.3195   0.2677 0.2800 0.3071
2004 0.3309 0.2969 0.2792 0.2800 0.3102
2005 0.3362   0.2838 0.2850 0.3139
2006 0.3457   0.2909 0.3000 0.3221
2007 0.3572 0.3070 0.2992 0.3100 0.3280
2008 0.3798   0.2882 0.3075 0.3493
2009 0.3800   0.2783 0.2850 0.3472
2010 0.3945 0.3017 0.2884 0.2950 0.3448
2011 0.3941   0.2902 0.2850 0.3445
2012 0.4077   0.2995 0.3050  
2013 0.3882 0.3130 0.3042 0.2800  
2014 0.3907   0.3104 0.2875  
2015 0.3908   0.3107 #N/A  
2016 0.3864 0.3459 0.3170 #N/A 0.3218

The shaded bars indicate periods of business recession as defined by the National Bureau of Economic Research: July 1990–March 1991, March 2001–November 2001, and December 2007–June 2009.

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Figure 2. Composition of assets of the wealthiest 1 percent in capitalized income data, by year

Left Panel: Composition in shares, BHH

Year Equities Interest Housing Business Pensions
1996 0.1045 0.0550 0.0545 0.0306 0.0469
1997 0.1158 0.0524 0.0518 0.0246 0.0527
1998 0.1314 0.0563 0.0481 0.0240 0.0577
1999 0.1386 0.0487 0.0439 0.0234 0.0661
2000 0.1441 0.0506 0.0463 0.0247 0.0667
2001 0.1311 0.0580 0.0543 0.0274 0.0570
2002 0.1071 0.0586 0.0630 0.0292 0.0499
2003 0.1016 0.0579 0.0706 0.0290 0.0476
2004 0.1065 0.0537 0.0690 0.0301 0.0507
2005 0.1032 0.0575 0.0728 0.0329 0.0479
2006 0.1093 0.0569 0.0711 0.0357 0.0498
2007 0.1134 0.0625 0.0607 0.0402 0.0524
2008 0.1157 0.0792 0.0549 0.0487 0.0513
2009 0.1156 0.0911 0.0459 0.0458 0.0487
2010 0.1267 0.0801 0.0403 0.0420 0.0554
2011 0.1213 0.0816 0.0408 0.0429 0.0572
2012 0.1268 0.1028 0.0402 0.0463 0.0614

Right Panel: Composition in shares, SCF

Equities Interest Housing Business Pensions
0.1727 0.1662 0.1138 0.4854 0.0619
0.2159 0.1314 0.1212 0.4574 0.0741
0.3071 0.1703 0.1009 0.3506 0.0711
0.3497 0.1170 0.1057 0.3358 0.0918
0.3410 0.1330 0.1178 0.3293 0.0789
0.3046 0.1371 0.1656 0.3225 0.0702
0.2851 0.1169 0.1524 0.3648 0.0808
0.2521 0.1596 0.1513 0.3284 0.1085
0.2572 0.1488 0.1502 0.3412 0.1026
0.2912 0.1560 0.1238 0.3548 0.0741

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Figure 3. Asset portfolios, by SCF wealth percentile

Source Equities (ex. S Corps) Equities (S Corps.) Business Interest Housing Pensions Other
Capitalized (top 0.01, Saez Zucman 2016) 0.42 0.04 0.06 0.42 0.02 0.03 0
SCF (top 0.01) 0.16 0.17 0.42 0.18 0.06 0.01 0
Sweden (top 0.01, Bach et al 2016) 0.17 0 0.65 0.03 0.15 0 0
Norway (top 0.01, Fagerang et al 2016) 0.04 0 0.86 0.10 0 0 0
Estate tax (filers, Johnson et al 2010) 0.31 0 0.39 0.18 0.05 0.01 0.06
Family offices (UBS 2016) 0.31 0 0.35 0.16 0 0 0.18
Capitalized (SZZ 2019, top 0.1) 0.31 0 0.42 0.15 0.05 0.07 0

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Last Update: February 20, 2020