Lauren Sanchez, Amazon founder Jeff Bezos, Priscilla Chan, and Meta CEO Mark Zuckerberg attend President Donald Trump’s inaugural ceremony on January 20, 2025. (Photo: Brendan Smialowski/AFP via Getty Images)
Families including Elon Musk, Jeff Bezos, and Mark Zuckerberg now control a combined $2.6 trillion in wealth, according to renowned economist Gabriel Zucman.
A new analysis by a leading chronicler of the United States’ exploding inequality shows that the 19 richest American households added $1 trillion to their collective fortunes last year and saw their share of the nation’s wealth jump at a record-shattering pace.
The analysis by Gabriel Zucman, a professor of economics at the University of California, Berkeley, estimates that the 19 wealthiest U.S. families now control 1.8%—or $2.6 trillion—of the nation’s total household wealth.
In 2024, those ultrarich households saw the largest single-year wealth increase on record.
The Wall Street Journal noted in its Wednesday write-up of Zucman’s analysis—based on data from Forbes, Fortune, and the Federal Reserve—that the families in his “research on the top 0.00001% in the U.S. are worth at least $45 billion per household and include Elon Musk, Jeff Bezos, Mark Zuckerberg, Bill Gates, Warren Buffett, and private-equity investor Stephen Schwarzman.”
Their wealth is largely tied up in the U.S. stock market, which rose more than 23% in 2024. The richest 10% of U.S. households control 93% of stock market wealth, according to the Federal Reserve.
(Source: Gabriel Zucman via The Wall Street Journal)
Zucman, whose analysis dates back to 1913, told the Journal that the U.S. has recently seen a “dramatic acceleration in the rise of the share of wealth owned by the truly superwealthy”—a trend that would continue if President Donald Trump and the Republican-controlled Congress pass tax legislation largely benefiting the rich.
“There is a strong anti-oligarchic current in America, and it has a formidable champion,” Zucman added. “Fight!”
The Journal reported Wednesday that “a household in the top 0.1%—roughly 133,000 households each worth at least $46.3 million—accumulated an average of $3.4 million a year since the third quarter of 1990, in 2024 dollars.”
“In comparison, the wealth of the rest of the top 1%—roughly 1.2 million households each worth at least $11.2 million—grew by an average of $450,000 per household, per year,” the Journal added.
Meanwhile, families at the bottom of the U.S. income and wealth distribution have struggled due to what the Economic Policy Instituterecently described as “policy-induced wage suppression.”
A February working paper by the think tank RAND estimated that the bottom 90% of U.S. workers would have earned $3.9 trillion more in 2023 alone had the income distribution been more even rather than flowing disproportionately to the top.
“Since 1975, nearly $80 trillion in wealth has been redistributed from the bottom 90% of Americans to the top 1%,” Sanders said last month in response to the paper. “The massive income and wealth inequality in America today is not only morally unjust, it is profoundly damaging to our democracy.”
Orcas discuss Donald Trump and the killer apes’ concept of democracy. Front Orca warns that Trump is crashing his country’s economy and that everything he does he does for the fantastically wealthy.
The Trump administration maintains that it can send people to overseas concentration camps with impunity because “activist judges do not have the jurisdiction to seize control of the president’s authority to conduct foreign policy” (BBC, 4/11/25).
As the Trump administration openly defies court orders to return a man wrongfully deported to a notorious mega-prison in El Salvador, some American outlets are underplaying the significance of this constitutional crisis.
In a unanimous decision the Supreme Court “declined to block a lower court’s order to ‘facilitate’ bringing back Kilmar Ábrego García,” a Salvadoran who had legal protections in the United States and was wrongfully sent to El Salvador’s Terrorism Confinement Center, or CECOT (BBC, 4/11/25).
The White House is not complying (Democracy Docket, 4/14/25). “The federal courts have no authority to direct the executive branch to conduct foreign relations in a particular way, or engage with a foreign sovereign in a given manner,” Trump’s Justice Department insists (CNN, 4/15/25). Fox News (4/16/25) said of Attorney General Pam Bondi: “Bondi Defiant, Says Ábrego García Will Stay in El Salvador ‘End of the Story.’”
In an X post (4/15/25) filled with unproven assertions that skirt the question of due process and extraordinary rendition, Vice President J.D. Vance said, “The entire American media and left-wing industrial complex has decided the most important issue today is that the Trump admin deported an MS-13 gang member (and illegal alien).” (Are we supposed to believe that the six conservatives on the Supreme Court, three of whom were appointed by Trump, are a part of the “left-wing industrial complex?”)
The complete disregard to constitutional protections of due process and to court orders should send alarm bells throughout American society. The MAGA movement condones sending unconvicted migrants to a foreign hellhole largely on grounds that they are not US citizens, and thus don’t have a right to constitutional due process. But the administration has floated the idea of doing the same thing to “homegrown” undesirables as well (Al Jazeera, 4/15/25).
‘An uncertain end’
The New York Times (4/15/25) goes out on a limb and declares that the president defying the Supreme Court is “a path with an uncertain end.”
The case is quite obviously not about the extremity or unpopularity of President Donald Trump’s policies, but a breaking point at which the executive branch has left the democratic confines of the Constitution, as many journalists and scholars have warned about. But the case is not necessarily being portrayed that way in the establishment press.
In an article about the Trump administration’s record of resisting court orders, a New York Times subhead (4/15/25) read, “Scholars say that the Trump administration is now flirting with lawless defiance of court orders, a path with an uncertain end.” In an article about “What to Know About the Mistaken Deportation of a Maryland Man to El Salvador” (4/14/25), reporter Alan Feuer described the Supreme Court’s upholding the order to “facilitate” the return of Ábrego García as “complicated and rather ambiguous” rather than a “clear victory for the administration.”
At the Washington Post (4/14/25), law professor Stuart Banner wrote an opinion piece saying that fears of a constitutional crisis were overblown, noting that while Trump is “famous for his contemptuous remarks about judges…tension between the president and the Supreme Court is centuries old.” Thus, he said, there are incentives in both branches to “not to let conflict ripen into public defiance.”
The Wall Street Journal (4/15/25) presents the prospect of the White House defying a Supreme Court order as a “showdown” that Trump might “win.”
The Wall Street Journal editorial board (4/15/25) said:
Mr. Trump would be wise to settle all of this by quietly asking Mr. Bukele to return Mr. Ábrego García, who has a family in the US. But the president may be bloody-minded enough that he wants to show the judiciary who’s boss. If this case does become a judicial showdown, Mr. Trump may assert his Article II powers not to return Mr. Ábrego García, and the Supreme Court will be reluctant to disagree.
But Mr. Trump would be smarter to play the long game. He has many, much bigger issues than the fate of one man that will come before the Supreme Court. By taunting the judiciary in this manner, he is inviting a rebuke on cases that carry far greater stakes.
These articles display a naivete about the current moment. The Trump administration and its allies have flatly declared that they believe a judicial check on the executive authority wrongly places constitutional restraints on Trump’s desires (New York Times, 3/19/25; Guardian, 3/22/25).
House Speaker Mike Johnson, responding to court rulings that went against MAGA desires, “warned that Congress’ authority over the federal judiciary includes the power to eliminate entire district courts,” Reuters (3/25/25) reported. The House also approved legislation, along party lines, that “limits the authority of federal district judges to issue nationwide orders, as Republicans react to several court rulings against the Trump administration” (AP, 4/9/25).
In other words, Trump’s defiance of the courts is part of a broader campaign to assert that the Constitution simply should not be an impediment to his rule. That’s not a liberal versus conservative debate about national policy, but a declaration that the United States will no longer operate as a constitutional republic.
‘Constitutional crisis is here’
“Think long and hard about what it means to have a president who gleefully ignores the courts,” urges Rex Huppke (USA Today, 4/15/25). “It’s time to stand up and shout ‘Hell no!’ right freakin’ now, and not a moment later.”
Pieces like the ones at the Journal, Times and Post give readers the sense that this affair is just another quirk of the American system of checks and balances, when, in fact, history could look back and declare this the moment when the Constitution became a dead letter.
Other outlets, however, appeared to appreciate the gravity of the situation. “America Is Dangerously Close to Being Run by a King Who Answers to No One” was the headline of Rex Huppke column at USA Today (4/15/25). “The Constitutional Crisis Is Here” was the headline of a recent piece by Adam Serwer at the Atlantic (4/14/25).
This case will roil on, and both the judicial system (Reuters, 4/15/25) and congressmembers (NBC News, 4/16/25) are taking action. There’s still time for the papers to treat this case with the urgency that it deserves.
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Donald Fuhrump says that Amerikkka doesn’t bother with crimes or charges anymore, not being 100% Amerikkkan and opposing his real estate intentions is enough.Elon Musk urges you to be a Fascist like him, says that you can ignore facts and reality then.
U.S. President Donald Trump participates in a bilateral meeting with Salvadoran President Nayib Bukele in the Oval Office of the White House on April 14, 2025. (Photo: Brendan Smialowski/AFP via Getty Images)
Sen. Bernie Sanders said that a Maryland resident whom the Trump administration wrongly deported “must not be allowed to rot in an El Salvadorian jail based on lies and defiance of our Constitution.”
U.S. Sen. Bernie Sanders warned late Monday that President Donald Trump’s open refusal to comply with court orders requiring him to bring home a Maryland resident his administration wrongly deported represents “just another step forward” in his “move toward authoritarianism.”
“Just a few weeks ago, the Trump administration admitted that the deportation of Kilmar Abrego Garcia, a father of three who has been in the country more than decade, was an ‘administrative error,’” Sanders (I-Vt.) said in a statement following the U.S. president’s chummy meeting with far-right Salvadoran President Nayib Bukele at the White House.
“The U.S. Supreme Court—in a 9-0 decision backed by every Trump-appointed justice—ruled that the administration must bring Abrego Garcia back to the United States,” Sanders continued. “Now, in open defiance of the Supreme Court and without any evidence, the White House claims that Abrego Garcia is a ‘terrorist,’ who was ‘sent to the right place.’ This is a blatant LIE.”
In defiance of the Supreme Court & without any evidence, the White House claims that Kilmar Abrego Garcia is a “terrorist,” who was “sent to the right place.”
This is a blatant LIE. He is innocent.
He cannot be allowed to rot in an El Salvadorian jail. He must be brought home. pic.twitter.com/im07FoR4Z0
During Monday’s meeting, Bukele showed a willingness to help Trump evade domestic court mandates, echoing the U.S. administration’s false narrative that Abrego Garcia is a “terrorist” and declining to release him from a notorious El Salvador mega-prison—insisting, like his American counterpart, that he lacks the power to do so.
The Trump administration proceeded to quote Bukele’s claim that he cannot “smuggle a terrorist into the United States” in a court filing.
Silky Shah, executive director of Detention Watch Network, said the Trump-Bukele meeting “should alarm everyone.”
“Trump is taking monumental yet calculated steps to expand the scope of who can be subjected to arrest, incarceration, and deportation, and normalize the abduction and removal of people to another country without due process,” said Shah. “The Trump and Bukele partnership to outsource incarceration to El Salvador is setting a dangerous precedent of total disdain for basic human rights—not only for migrants, but for everyone in the United States, including residents and citizens, and especially Black and brown people who are disproportionately targeted by the U.S.’s unjust criminal legal system.”
During Bukele’s visit to the White House, livestream audio captured Trump telling El Salvador’s president that “he needs to build about five more places” and that “homegrown” U.S. prisoners “are next.”
Trump to Bukele: "Home-growns are next. The home-growns. You gotta build about five more places. It's not big enough." pic.twitter.com/o20thGNK9e
Working Families Party national director Maurice Mitchell said Monday that Trump’s remarks were “some of the most chilling words uttered in the Oval Office.”
“He’s pulling straight from the authoritarian playbook—and isn’t hiding it,” said Mitchell. “We condemn his comments in the strongest possible terms and demand the immediate release of wrongly imprisoned Maryland resident Kilmar Abrego Garcia.”
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US President Donald Trump speaks after signing an executive order in the Oval Office of the White House on April 9, 2025. 9Photo by Saul Loeb / AFP via Getty Images)
“Is it a constitutional crisis yet?” asked one journalist.
Despite a federal court ruling last week, journalists with the Associated Press were blocked from reporting on several White House events on Monday, leading to fresh accusations that President Donald Trump is openly violating court orders as well as core constitutional protections, in this case freedom of speech and the press.
“Our journalists were blocked from the Oval Office today,” said Lauren Easton, an AP spokesperson, following a press event with Trump and El Salvador President Nayib Bukele. “We expect the White House to restore AP’s participation in the pool as of today, as provided in the injunction order.”
A pair of AP photographers were later allowed to attend an event on the South Lawn, but a print journalist was barred from entry.
According to the AP:
Last week’s federal court decision forbidding the Trump administration from punishing the AP for refusing to rename the Gulf of Mexico was to take effect Monday. The administration is appealing the decision and arguing with the news outlet over whether it needs to change anything until those appeals are exhausted.
The U.S. Court of Appeals for the D.C. circuit set a Thursday hearing on Trump’s request that any changes be delayed while case is reviewed. The AP is fighting for more access as soon as possible.
“Is it a constitutional crisis yet?” asked Missouri-based journalist Steve Lambson in response to the latest developments.
“More contemptuous behavior by this administration,” added attorney Bernadette Foley. “What will the courts do about it? What will GOP do?”
In the federal court ruling last week, the presiding judge wrote that access to presidential events “must be reasonable and not viewpoint-based,” though the White House has been clear the decision was a punitive response to editorial decisions by AP with which it disagreed.
“While the AP does not have a constitutional right to enter the Oval Office,” the judge said, “it does have a right to not be excluded because of its viewpoint. … All the AP wants, and all it gets, is a level playing field.”
Neo-Fascist Climate Science Denier Donald Trump says Burn, Baby, Burn.Elon Musk urges you to be a Fascist like him, says that you can ignore facts and reality then.The original Fascists Mussolini and Hitler
Orcas discuss how Trump was re-elected and him being an insane, xenophobic Fascist.
Donald Trump is repeating the same mistakes of short-lived former UK Prime Minister Liz Truss. It’s not a few uber-rich individuals that maintain economic health, concentrating wealth is unhealthy. The rich wouldn’t be rich if they were willing to spend their money. It is the poor that are forced to spend to survive, they have no choice. Making the poor poorer to make a tiny minority richer is counter-productive as markets globally are showing.
Additionally, Trump is a sullen, arrogant bigot unwilling to recognise the overwhelming urgency of climate action. Even marine mammals recognise this.
Elon Musk urges you to be a Fascist like him, says that you can ignore facts and reality then.
