7 Richest Most Powerful Ethnic Groups in America

Published on March 14, 2018 at 6:37 am by Insider Monkey Staff in Lists

If you have ever wondered, these are the 7 richest most powerful ethnic groups in America.

With so many nationalities and ethnic groups coming to the U.S. to seek a better life and pursue their dreams, no wonder America has often been referred to as the Melting Pot. This multi-racial and multi-ethnic country is home to more than three hundred millions of people. But what is exactly the difference between race and ethnicity? Let us elaborate a bit. According to Live Science, a race is associated with biology while ethnicity is related to culture. While races are genetically distinct populations, ethnicity is the term for the culture that lives in a specific geographic region. These two terms are not the same, but they can overlap. For example, someone who came from India to the United States would be referred to as Indian American. What classifies people is their ancestry. The American population is officially categorized into several groups, and these are White Americans, African Americans, Native Americans/Alaskan Natives, Pacific Islanders, native Hawaiians, and Asians.

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According to the United States Census Bureau, 17.8% of the entire population is Hispanic/Latino, which is the largest ethnic minority, while Black or African American population constitutes about 13.3%. According to the same report, 2.6% of the entire population is of two or more races. The United States Consensus defines white people as those who have origins in any of the original people from Europe, the Middle East or North Africa (Irish, German, Italian, Polish, Lebanese, etc.). Black or African Americans are those who have origins in any of the native people of Sub-Saharan Africa while Asian American are those with origins in any of the original peoples of Far East, North Asia, Southeast Asia, and the India subcontinent.

However, there is a long list of ethnic groups in the United States because so many people who came to settle in America have ancestors from multiple places. Some members of these ethnic groups are very educated and smart. In fact, the most educated ethnic groups in America include Chinese Americans, Jewish Americans, and Indian Americans ranked first on the list. For the complete list, visit 7 Most Educated Ethnic Groups in America. It’s no wonder that Chinese Americans are one of the most educated ethnic groups because China is also among the countries with highest average IQ in the world. As a matter of fact, Asian countries have a huge financial influence on the economy of Europe – just check out the Asian Rich List, and you’ll find out which is one of the richest ethnic groups in UK, for example.

If we were to talk about the richest ethnic groups in America, we would have to find data on median US household income by selected ethnic groups and then simply compare the earnings. And that is exactly what we did. The United States Census Bureau report contains data on the annual earnings for each ethnic group. The data on median household income is mainly from 2015 and in some cases 2014, and this is the most recent report we could find. We ranked the ethnic groups according to the median household income.

These are the 7 richest most powerful ethnic groups in America.

7. Russian American

Median household income: $77,349

If you have watched “Meet the Russians” show on Fox, then you were probably shocked by how rich there UK Russians are. While the show may be extravagant, Russians are in fact, pretty rich in The United States as well. Well, at least they are among the top 7 richest ethnic groups in the U.S.

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6. Israeli American

Median household income: $79,736

Israeli Americans include both the immigrants who came to America and obtained citizenships as well as their descendants. Being a very rich and powerful ethnic group, we ranked them sixth on our list of the richest most powerful ethnic groups in America.

5. Australian American

Median household income: $81,452

Americans with Australian ancestry are also on the list of the richest and most powerful ethnic groups. Australians started migrating to the U.S. in the 1850s during the California Golden Rush. They are not to be confused with American Australians (Australian citizens with American ancestry). According to this essay, most Australians and New Zealanders who came to America settled around San Francisco and Los Angeles.

4. Filipino American

Median household income: $82,389

According to an earlier report of the Census, there were about 3.4 million Filipino Americans in the United States in 2010, and the number includes those who were part Filipino (multiracial Americans). The Filipino American ethnic group is among the richest in America, according to the report.

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3. Taiwanese American

Median household income: $85,566

Taiwanese Americans are not only among the most educated ethnic groups in the United States, but also one of the richest ones as well. Hence, Taiwanese Americans are ranked third on our list.

2. Jewish American

Median household income: $97,500

Jewish Americans are on the list of richest most powerful ethnic groups in America as well, considering the fact that many Jews believe that being a Jew is actually related to ancestry and not religion, according to this study. It’s no secret that 11.6% of the world’s billionaires are Jews. So, it’s no wonder some consider them as the most powerful ethnic group in the world as well as the richest ethnic group in the world. But according to the data we found, Jewish Americans are among the richest, most powerful ethnic groups in the United States as well.

1. Indian American

Median household income: $101,390

We know that Indian Americans are among the most educated ethnic groups in the United Staes, but they are also one of the richest ethnic groups, too. Median household income for 2015 was about $101,390 according to the United States Census Bureau. This is why Indian Americans are ranked first on our list of the richest most powerful ethnic groups in America.