04/28/2024

The New Class War

There exists a wealth gap between Millennials

The wealth gap between rich Millennials and the rest of their age group is the largest of any generation, creating a new wave of class tension and resentment, according to recent study.

Even as the majority of Millennials struggle with student debt, low-wage service-jobs, unaffordable housing and low savings, the Millennial elite are surpassing previous generations. According to the study, the average Millennial has 30 percent less wealth at the age of 35 than Baby Boomers did at the same age. However, the top 10 percent of Millennials have 20 percent more wealth than the top Baby Boomers at the same age.

"Millennials are so different from one another that it is not particularly meaningful to talk about the 'average' Millennial experience," wrote the study's authors, Rob Gruijters, Zachary Van Winkle and Anette Eva Fasang. "There are some Millennials who are doing extremely well—think Mark Zuckerberg and Sam Altman—while others are struggling."

Please select this link to read the complete article from NBC News.