A Pew Research Center study released on Friday finds that in 2013, the wealth of white households was 13 times greater than black households, a dramatic increase since 2010 when white wealth was eight times that of black household wealth.
The gap between white and black wealth is now at its highest point since 1989.
From 2010 to 2013, minority media household income has fallen 9% versus just 1% for white households.
The study, which defines net worth as the difference between a household’s assets and liabilities, says whites are more likely to own stocks, thereby partially explaining their jump in wealth as the stock market has risen.
The Pew study found that the typical American household had a net worth of $81,400 in 2013.