Business

Silicon Valley’s Vast Wealth Disparity Deepens as Poverty Increased

A new study of Silicon Valley wealth, income and other economic measures shows vast disparities in one of the country’s wealthiest regions, with the top 10% of households holding 66% of the investable assets in the region last year. In Santa Clara and San Mateo counties, just eight households held more wealth than the bottom 50% (nearly half a million households), according to the Silicon Valley Index, an annual report by the Silicon Valley Institute for Regional Studies, the research arm of Joint Venture Silicon Valley.

Published

3 years ago

February 27, 2023

Oakland Post

Wealth inequality in Silicon Valley is more pronounced than in the U.S. overall, or globally, with the top 1% of households holding 48 times more of the total wealth than the bottom 50%, according to the report. That compares to 23 times nationally and globally, the report said.

By Alejandro Lazo
CalMatters

In Santa Clara and San Mateo counties, just eight households held more wealth than the bottom 50% (nearly half a million households), according to the Silicon Valley Index, an annual report by the Silicon Valley Institute for Regional Studies, the research arm of Joint Venture Silicon Valley.

“We live in a capitalist system that is based on markets,” said Russell Hancock, chief executive of the San Jose-based think tank. “There’s rules to the game; the rules are fair. In Silicon Valley, we have some of the world’s biggest winners.”

Hancock added that the report highlights the need for more investments in education and “equipping people for success.”

The institute defines Silicon Valley as Santa Clara and San Mateo counties, as well as parts of Santa Cruz and southern Alameda counties. The think tank also includes San Francisco in some of its metrics. The report focused solely on data from Santa Clara and San Mateo counties for its wealth analyses.

Ultra-rich

The report estimates Silicon Valley’s aggregate household wealth is nearly $1.1 trillion, when it counts ultra-high net worth individuals.

The report marks the first time the think tank published wealth estimates that include data on these ultra-high net worth individuals, who the institute defined as those with net investable assets of $30 million or more.

Such assets are those that are held in cash, or can easily and quickly be converted into cash, including checking accounts, certificates of deposits and retirement accounts. The group did not count houses, cars or other non-liquid financial holdings as investable assets.

Santa Clara and San Mateo counties had 163,000 millionaire households in 2022, which the report defined as households that had more than $1 million in investable assets. That translates to less than 1% of the region’s population holding about 36% of its wealth.

And an estimated 8,300 households held more than $10 million in investable assets, according to the report.

Conversely there were about 220,000 Silicon Valley households with fewer than $5,000 in total assets.

About 23% of Silicon Valley residents lived below the poverty threshold in 2021, a 3 percentage point increase from 2019. Two percent of Silicon Valley households, or about 22,000 households, did not hold bank accounts.

The report also noted that while income inequality was lessening statewide, down 1%, as well as nationally, down 3%, income inequality rose in Silicon Valley by 5% in 2021. Generally, the pace of income inequality growth since the 2009 recession has been twice that of the nation, the report said.

The disparities in Silicon Valley began in earnest in the 1990s, when the internet economy first took off, and grew more pronounced after 2010, following the Great Recession. The first two years of the pandemic exacerbated the inequality, the report said.

Copyright © 2023 Bay City News, Inc. All rights reserved. Republication, rebroadcast or redistribution without the express written consent of Bay City News, Inc. is prohibited. Bay City News is a 24/7 news service covering the greater Bay Area.

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AlejandroLazo/CalMatters0053a02/18/23

https://calmatters.org/california-divide/2023/02/silicon-valley-inequality/

/www/bcn/general/02/newsclip.23.02.18.00.55.01.1.txt

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Medi-Cal Cares for You and Your Baby Every Step of the Way

Across California, including Alameda and San Francisco counties, Medi-Cal is working to address those concerns by expanding and coordinating maternal health services so pregnant and postpartum people receive care that is respectful, comprehensive, and easier to navigate. From the first prenatal visit through a child’s first birthday, Medi-Cal provides coverage and support designed to protect both parent and baby.

Published

5 days ago

February 3, 2026

Oakland Post

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For many pregnant people, pregnancy brings a mix of both joy and uncertainty. Alongside excitement, there are questions about finding the right doctor, understanding what care is covered, and knowing where to turn for support after the baby arrives. For Black families in Alameda and San Francisco counties those questions are often compounded by long-standing disparities in maternal health outcomes.

These services are available to people who qualify for Medi-Cal. In California, eligibility is based primarily on income, household size, age, pregnancy status, disability, or other qualifying circumstances. Pregnant people qualify at higher income levels than non-pregnant adults and remain eligible through pregnancy and for 12 months after the pregnancy ends.

Importantly, pregnant people who qualify for Medi-Cal are eligible for full-scope coverage regardless of immigration status, including medical, behavioral health, dental, and vision services during pregnancy and the postpartum year.

A Clearer Path Through Pregnancy: The Birthing Care Pathway

The Birthing Care Pathway helps pregnant people understand what care they should receive and when, while supporting providers in delivering coordinated, culturally responsive services. It outlines key steps during pregnancy, including prenatal screenings, behavioral health check-ins, nutrition support, and preparation for labor and delivery.

For Black pregnant and postpartum people in Alameda and San Francisco counties the pathway emphasizes early prenatal care, shared decision-making, and connections to community-based programs that address medical needs and social drivers of health.

Doula Services: Support Before, During, and After Birth

Medi-Cal covers doula services for pregnant and postpartum members who qualify. Doulas provide non-medical emotional support, education, and advocacy during pregnancy, labor and delivery, and postpartum recovery. Research shows doula care is associated with reduced stress, improved birth outcomes, and increased breastfeeding success.

Covered doula services include prenatal visits, support during labor and delivery, and postpartum follow-up visits, in accordance with Medi-Cal benefit guidelines.

Care That Continues After Birth: The Postpartum Pathway

More than half of pregnancy-related deaths in California occur after childbirth, with Black families facing the greatest risks. The Postpartum Pathway defines the care pregnant and postpartum people who qualify for Medi-Cal should receive during the first year after birth.

The Pathway promotes a comprehensive postpartum visit within 12 weeks, ongoing primary care through 12 months postpartum, screening and treatment for postpartum depression and anxiety, breastfeeding support, chronic condition management, and referrals to community-based services.

Mental Health, Dental, and Vision Care Included

Medi-Cal covers perinatal behavioral health services for eligible members, including screening, therapy, counseling, and medication management when medically necessary. Services may be provided in person or through telehealth.

Pregnant and postpartum people who qualify for Medi-Cal also receive full dental benefits, including exams, cleanings, and medically necessary treatment, as well as vision care such as eye exams and eyeglasses.

Community Supports Through CalAIM

CalAIM (California Advancing and Innovating Medi-Cal) is a statewide initiative that strengthens Medi-Cal by improving care coordination and addressing health-related social needs.

Through CalAIM, eligible Medi-Cal members in Alameda and San Francisco counties may receive Community Supports such as transitional housing assistance, medically tailored meals, and help navigating social services.

How to Contact Medi-Cal in Alameda and San Francisco Counties

Pregnant and postpartum people who meet Medi-Cal eligibility requirements can get help enrolling, choosing a health plan, finding providers, or accessing doula and postpartum services by contacting the Alameda County Medi-Cal office at (510) 795-2428 or the San Francisco Medi-Cal office at (855) 355-5757 or calling the number on their Medi-Cal card.

Support at Every Step

Pregnancy and postpartum care should be clear, compassionate, and complete. Through the Birthing Care Pathway, Postpartum Pathway, doula services, behavioral health care, Black Infant Health, and Community Supports, Medi-Cal is working to ensure that eligible families in Alameda and San Francisco counties — especially Black Californians — receive the care and support they need to stay healthy and give their babies a strong start.

Ready to Learn More or Get Started?

Pregnant and postpartum people in Alameda and San Francisco counties can learn more about Medi-Cal benefits, enroll in coverage, or get help finding providers by contacting the Alameda County Medi-Cal office or San Francisco County Medi-Cal office or calling the number on their Medi-Cal card. Trained representatives can explain eligibility, available services, and next steps.