Money Is Piling Up For America's Family Dynasties

A new study warns of rapidly growing fortunes being concentrated in fewer hands that have never known hard work.

The wealth of America’s 50 richest family dynasties has soared at 10 times the rate of typical U.S. families over the last four decades, according to a new study that warns of the increasing concentration of riches.  The report from the Institute for Policy Studies, a progressive think tank, found that the collective wealth of the richest 27 families on the Forbes billion-dollar dynasties list and Forbes 400 list grew by 1,007% from 1983 to last year, from $80.2 billion to $903.2 billion in inflation-adjusted dollars. Wealth grew less than one-tenth of that — just 93% — for the typical American family. The five wealthiest family dynasties — the Waltons, Kochs, Marses, Cargill-MacMillans and Lauders — saw their wealth soar 2,484% since 1983, noted the study, “Silver Spoon Oligarchs: How America’s 50 Largest Inherited-Wealth Dynasties Accelerate Inequality.”