Fact check: Ro Khanna's claims on the wealth of top three richest people in US


On August 31 2018 Senator Ro Khanna, who is a representative of California’s 17th District in Congress’ 115th session  wrote a tweet in which he claimed that the wealth of top three richest persons in the U.S. is more than the wealth of half americans.

Ro Khanna on Twitter

The three richest Americans Bezos, Buffett, and Gates hold more wealth than 50 percent of the US population or 160 million people put together! That’s not a functional, free enterprise system. It’s a failure of policy to design markets that value the dignity of work.

Claim: 

“The three richest Americans Bezos, Buffett, and Gates hold more wealth than 50 percent of the US population or 160 million people put together!”

 

Fact check:

Likely True (but needs more context)

Khanna likely used the finding of this study from the Institute for Policy Studies (a progressive think tank). However that study showed that it was specifically the bottom half that now had less wealth than the top three richest Americans.

The three wealthiest people in the United States — Bill Gates, Jeff Bezos, and Warren Buffett — now own more wealth than the entire bottom half of the American population combined, a total of 160 million people or 63 million households.

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