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Gavin Newsom: “10% of people owning 2/3 of the wealth. Those 10% owning 93%…”

Featuring: Gavin Newsom, Democratic | Governor of California

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Gavin Newsom: California's Housing Crisis Is Its Original Sin

Published | Video Starts at 48:31

The imbalance between the rich and poor is the oldest and most fatal ailment of all republics. That's Plutarch warning the Athenians 2000 years ago. 10% of people owning 2/3 of the wealth. Those 10% owning 93% of the value of the stock market. This thing first trillionaires coming later this year, maybe next month. I mean this thing's not working. The pitchforks are already coming out. Molotov cocktails, assassinations on the streets of CEOs. (48:31–48:37)

CLAIM

Asserts that 10% of people own two-thirds of the wealth and 93% of the stock market value.

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PolitiQuote is a civic library index to statements made by politicians in publicly available video records. The index is created automatically from transcripts, with no editorial oversight or analysis. Highlighted quotes are selected by AI. Words may be added in parentheses to offer context for the quote. There may be errors in the transcription and display, so listen to the video to ensure accuracy.

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