Wealth Concentration in US Fuels Rise of Populist Figures

DID Press: The rise of figures such as Donald Trump in U.S. politics is increasingly seen as a reflection of deep economic inequality rather than individual traits. Nearly half of Americans hold virtually no significant wealth, while a small percentage controls the majority of private assets.

Data from 2023 indicate that the top 10% of Americans hold 69.58% of total private wealth, while the bottom 50% collectively own just 0.95%. Within the top percentile, wealth concentration is even starker: the richest 1% alone controls 34.83% of all private wealth — roughly 1,800 times the share of the lower half of society.

Analysts note that prior to the 1980s, redistributive policies and post-World War II economic growth had expanded the middle class. However, government downsizing and deregulation policies in the 1980s shifted wealth concentration back toward the upper classes, reaching unprecedented levels today.

This extreme concentration has reshaped political and economic institutions to favor the wealthy, creating fertile ground for populist figures like Trump. While these leaders present themselves as champions of the people, they often emerge from elite circles and perpetuate existing inequalities.

The analysis also points out that Trump’s unconventional behaviors — from symbolic displays on social media to AI-generated provocative videos — are not anomalies but manifestations of systemic contradictions within the U.S. capitalist system, which now expresses social discontent through such political phenomena.