We recently heard an amazing statistic on the Melissa Harris-Perry show about how Black and Latino households lost large percentages of their wealth during the recession. It got us thinking, of course, about how, while that was happening, the Walton Family continued to amass more wealth than any family could ever need.
We tracked down the data and here it is:
Overall, during from 2007 to 2010, US households, regardless of race, lost a staggering 47% of their wealth. Not surprisingly, African-American and “Hispanic” households fared even worse, losing 50% and 86%, respectively.
Surely, as the company was suffering, so did the Waltons, right? Nope. From 2007 to 2010, the Waltons’ wealth went from $70 billion to nearly $90 billion, an increase of 28%.