In 2016, around 15.2 percent of all White families in the United States had a net worth of one million U.S. dollars or more. This compares to only 1.9 percent of Black families.

The statistic shows the distribution of U.S. millionaires in 2013, by race and ethnicity. As of 2013, about 76 percent of U.S. millionaires were White/Caucasian.

Additional information on racial income inequality

The issue of racial inequality in regards to income and wealth has been a problem through the entirety of the history of the United States. The statistic above demonstrates how the percentage of millionaires that identify as Black/African Americans is disproportionate to the share of the population overall. While the disproportionate number of millionaires demonstrates an undesirable degree of income inequality it is at the bottom of the wealth ladder within American society that the issue is most pressing. The overrepresentation of African Americans in contrast to the population in unemployment statistics are cause for concern on the part of the government and society as a whole. In 2014, nearly 25 percent of surveyed families who placed themselves in the income bracket of under ten thousand dollars identified as black.

The percentage of non-white female business owners perhaps demonstrates that barriers to wealth exist but are diminished in unison. As barriers to wealth generation are removed for women, similar barriers are also being broken to allow for greater equality in the economic opportunities offered across the population of the United States. A central issue for policy makers is the time delay associated with policies aimed at reversing these inequalities. This was reflected in the 2015 Democratic and Republican presidential primary campaigns. Despite many major candidates discussing the issue none put forward meaningful proposals to address the problem. Even Senator Bernie Sanders who made addressing income inequality the cornerstone failed to separate the issue from income inequality generally. However, the global attention gained by movements such as ‘Black Lives Matter’ shows issues of racial inequality are prominent in the discourse of sections of the wider population if not forming a cornerstone of the political discourse in the United States.

As of January 2024, Johann Rupert and his family are the richest people in South Africa with a net worth of 11.1 billion U.S. dollars. The Rupert family are ranked at 216 globally and are the second richest people in Africa after Nigerian billionaire, Aliko Dangote, reclaimed the title. Rupert's net worth dropped by seven million U.S. dollars from 2023, mainly due to a decline in the market value of luxury goods company Richemont, where he owns an estimated 9.14 percent stake. Nicky Oppenheimer and his family placed as the second richest in South Africa, with a net worth of 9.5 billion U.S. dollars and ranking at 276 worldwide. Their net worth source was mostly founded via the diamond market. They were followed by Koos Bekker, the chairman of media group Naspers, with 3.1 billion U.S. dollars who placed 1,133 globally. Patrice Motsepe, the first black African on the Forbes list and founder of African Rainbow Minerals, ranked 1,140 out of the global billionaires list, with a net worth of three billion U.S. dollars. Where does the wealth reside in the continent? The three largest economies on the continent in terms of Gross Domestic Product (GDP), namely Nigeria, Egypt, and South Africa saw the highest concentration of private wealth, with South Africa ranking first when it came to private wealth. In fact, out of Africa’s 20 wealthiest families and individuals, 14 of them were from these economies. Since 2010, the number of high net worth individuals on the continent fluctuated peaking at 148 individuals in 2017 and reaching its lowest in 2020 at 125. High net worth individuals are people whose net assets exceed one million U.S. dollars. On the other hand, South Africa suffered from severe income inequality ranking as the most unequal country in the world with a Gini index of 0.63 points.