Eight billionaires hold more wealth than 50% of households in Silicon Valley, nearly half a million people, according to a new report.
While the wealth gap narrowed by about 3% nationwide in 2021, it grew by 5% in the region, where tech companies have helped create a wave of millionaires and billionaires in recent years, according to the latest Silicon Valley Index.
The combined wealth of those eight names — which includes cash, real estate and investments totaling at least $10 billion each — is $260 billion, according to data from Forbes as of December 2022 that was analyzed by Rachel Massaro, director of research for Joint Venture Silicon Valley’s Institute for Regional Studies.
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