‘100% completely unsustainable as a society.’ Billionaire advisor calls out widening inequality that leaves America’s poorest 80% ‘falling behind’

The U.S. wealth gap has grown so wide, even America’s billionaires can’t help but notice.

In the third quarter of 2025, the top 1% of U.S. households owned a whopping 31.7% of U.S. wealth, according to Federal Reserve data released in January. It’s more or less as much as what the bottom 90% of Americans hold, the widest the gap has been since the Fed started collecting data in 1989. And although headline figures are relatively strong, the U.S. economy doesn’t feel like it’s working for everyone, according to one person who has been treated very well by it. 

“This is 100% completely unsustainable as a society,” Peter Mallouk, the CEO of Creative Planning, a wealth management firm overseeing around $700 billion in assets, wrote on X Monday.

The gap has manifested in everything from asset ownership to how different households spend money, with real repercussions for the economy and even national politics.........

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