Race and riches by the numbers

How skin colour affects your odds of becoming a millionaire

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From the April 2016 issue of the magazine.

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When it comes to determining your odds of becoming a millionaire, education and age count—though not nearly as much as the colour of your skin. These are the provocative findings of a study conducted by economists at the Federal Reserve Bank of St. Louis and Bloomberg News, which surveyed 12,500 U.S. households between 2010 and 2013. While their research showed that higher levels of education generally boost the likelihood of obtaining wealth for all racial and ethnic groups, the deck is clearly stacked in favour of whites and Asians—so much so that a white high school graduate is just as likely to become a millionaire as a black person with a college degree. The figures below offer illuminating insight into the true state of race and wealth in North America.

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3 comments on “Race and riches by the numbers

  1. We already know this, so what can we do about? No one in place of power wants to discuss Race,

    Reply

  2. How ( and why) did you make the leap from an American survey to North America? This information is, frankly, irrelevant to me as I am not about to change either my ethnicity or nationality. Lets leave theUS to Clinton and Trump ok?

    Reply

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