Who are the ‘truly wealthy’?
By Kennedy Elliott and Scott Clement, Published: July 7, 2014
In what was likely an attempt to downplay her wealth, Hillary Rodham Clinton distinguished herself from those who are “truly wealthy” in an interview with Diane Sawyer last month. Because Clinton's net worth is about four times the average net worth of the wealthiest 10 percent of Americans, the comment made her seem out of touch instead of providing a stark contrast between her and the extraordinarily wealthy.
In 2012, Clinton’s estimated net worth ranged from $5 million to $25 million, while the average family’s net worth in 2010 was just under $500,000, though the Clinton family has added significantly more to their net worth in the years since. Compared to other presidential nominees over the past decade, she’s at the top of the pack, except compared to the two individuals who may be considered “truly wealthy”: Mitt Romney and John Kerry.
SOURCE: Center for Responsive Politics, Forbes, Federal Reserve, staff reports.