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Report to Senate: California Latino households hold about 11% of wealth of white households, group warns
Summary
Latino Prosperity told a state Senate select committee that Latino households in California hold roughly 11% of the wealth of white households and proposed policies to expand homeownership, financial inclusion and capital to Latino‑owned firms.
Orson Aguilar, president and CEO of Latino Prosperity, told the Senate Select Committee on Minority Economic Development that a forthcoming state report, Building Prosperity: A Blueprint to Close California's Latino Wealth Gap, finds Latino households in California hold roughly 11% of the wealth of white households.
“The scale of California's Latino wealth gap is unprecedented,” Aguilar said. “Latino households hold just 11% of the wealth of white households.” He said that Latino household median income is about $99,000 versus $136,000 for white households, and that the principal gap is net worth rather than wages.
Aguilar outlined…
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