It takes the combined wealth of about 160 million Americans to equal that of the top three super rich - Bill Gates, Jeff Bezos and Warren Buffett - whose wealth has reached over $240 billion in total, according to the Billionaire Bonanza report from the Institute for Policy Studies.
The think tank called the growing wealth inequality in the US a "moral crisis" and warned that the tax policy proposed by the Trump administration would only worsen the disparity, with 80% of tax benefits going to the wealthiest 1% of households.
Citing the rise in wealth inequality, economist and co-author of the report Chuck Collins said, "Now is the time for actions that reduce inequality, not tax cuts for the very wealthy."
"We have not witnessed such extreme levels of concentrated wealth and power since the first gilded age a century ago," the report says.
Wages for workers in the U.S. have remained relatively stagnant in recent years, while chief executive officers' compensation has grown more than 930% since 1978. CEOs now make 271 times what the typical worker earns.
The report found that the wealthiest 400 people in the US, based on a Forbes magazine list, have more combined wealth than the bottom 64% of Americans.
Meanwhile, one in five U.S. households have zero or negative wealth. This is especially true of minority households — nearly a third of black households and more than a quarter of all Latinx households have zero or negative wealth, compared to 14% of white families.
"Such staggering levels of wealth inequality threaten our democracy, compound racial and class divisions, undermine social cohesion, and destabilize our economy," the report says.