Silicon Valley Pain Index: Tech wealth grows as Black household income falls [mercurynews.com]

Donielle Prince 6/28/218:07 PM

By Jesse Bedyan, The Mercury News, June 23, 2021

Since 2020, the top 10 Silicon Valley moguls have more than doubled their net worth to $571 billion while the average per capita income among Latinx residents in the valley increased by 5.4% to $30,618, according to the second annual Silicon Valley Pain Index released Tuesday.

At the same time, the average income of Black residents declined by 1 percent to $40,381.

“We’ve created Kings,” said Scott Myers-Lipton, the report’s lead author, “and then the regular average folks are just getting by and some are dying.”

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