Half of Silicon Valley owns less than 1% of the wealth as shocking poverty gap laid bare

Silicon Valley may be home to some of the world’s richest tech titans, but a shocking new report shows the region’s wealth is concentrated in the hands of a privileged few while millions struggle to get by. Researchers at San Jose State University on Thursday released the latest Silicon Valley Pain Index, revealing that the wealthiest 10% of residents control a staggering 75% of the region’s wealth, while the bottom half own less than 1%. Residents now need to earn more than $460,000 a year to afford a typical home in San Jose. Bloomberg via Getty Images The annual report, compiled by the university’s Human Rights Institute, measures economic hardship across housing, food, childcare, employment, health and education to track the growing divide in one of America’s richest regions. “We have