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Eric Hovde: “The top 10% [of Americans] up 684% [in net worth since…”

Featuring: Eric Hovde, Republican | Former Candidate, U.S. Senate Wisconsin

The American Consumer

Published February 3, 2026 | Video Starts at 00:12

And if you look at the graph to your right, this is showing the change in net Worth since 1990. And who has done the best. The top 1/10 of 1% up 1,227%. The top 10% [of Americans] up 684% [in net worth since 1990]. bottom 50 lowest. And you know, when you factor in inflation over that time means that their incomes haven't done much or their net worth hasn't done much, you know … (00:12–00:14)

CLAIM

Asserts that the net worth of the top 10% of Americans increased by 684% since 1990.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Eric Hovde

“Almost half of all spending is driven by the top 10% of America today.”
The American Consumer | Uploaded February 3, 2026 | 00:09-00:15
“67.4% of all the assets in America [are] controlled by the top 10%.”
The American Consumer | Uploaded February 3, 2026 | 01:21-01:28
“Half of America has less than $1,000 in savings. The average is $600.”
The American Consumer | Uploaded February 3, 2026 | 05:08-05:16
“Subprime delinquency [in auto lending]... higher than the height of the great financial recession.”
The American Consumer | Uploaded February 3, 2026 | 06:44-06:56
“In 1995, about 36% of spending was driven by the top 10%.”
The American Consumer | Uploaded February 3, 2026 | 00:18-00:25
“The top 1/10 of 1% of Americans control 13.9% of all the assets.”
The American Consumer | Uploaded February 3, 2026 | 01:03-01:10
“The top 1/10 of 1% [of Americans] up 1,227% [in net worth since 1990].”
The American Consumer | Uploaded February 3, 2026 | 01:03-01:06
“The top 1% controls 17.1% [of all assets].”
The American Consumer | Uploaded February 3, 2026 | 01:10-01:15
“The top 10% controls 36.4% [of all assets].”
The American Consumer | Uploaded February 3, 2026 | 01:10-01:19
“The bottom 50 half of America only owns 2.5% [of all assets].”
The American Consumer | Uploaded February 3, 2026 | 01:34-01:40
“The bottom 50 [of Americans] lowest [in net worth change since 1990].”
The American Consumer | Uploaded February 3, 2026 | 01:34-01:36
“Two sectors that have had the highest rates of inflation? Higher education and health care.”
The American Consumer | Uploaded February 3, 2026 | 02:46-02:55
“Today, going to the University of Wisconsin probably costs you $50,000 a year.”
The American Consumer | Uploaded February 3, 2026 | 03:15-03:21
“Today [savings rate is] only 5.2%.”
The American Consumer | Uploaded February 3, 2026 | 03:15-04:50
“From 1950 to 1974, [savings rate] was 11.4%.”
The American Consumer | Uploaded February 3, 2026 | 04:39-04:44
“From 75 to 99, [savings rate] was 9.1%.”
The American Consumer | Uploaded February 3, 2026 | 04:43-04:47