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 a recent study.
According to the study, the average millennial has 30% less wealth at the age of 35 than baby boomers did at the same age.
Yet the top 10% of millennials have 20% more wealth than the top baby boomers at the same age.
The study finds that millennials — typically defined as those between the age of 28 and 43 today — have faced repeated financial headwinds.
The millennials who "went to college, found graduate level jobs, and started families relatively late," ended up with "higher levels of wealth than Baby Boomers with similar life trajectories," according to the report.
Persons:
Robert Frank, Rob Gruijters, Zachary Van Winkle, Anette Eva Fasang, Mark Zuckerberg, Sam Altman —
Organizations:
Boomers