The share of Latino wealth in the U.S. fell by 20% over the last 10 years, a phenomenon exacerbated by policies during both of Donald Trump's presidencies, a study released Friday by Americans for Tax Fairness (ATF) revealed. Hispanics, who make up nearly 20% of the U.S. population, held 2.9% of the nation's wealth in the third quarter of 2016, during Trump's first campaign, but from July-September 2025, they now account for only 2.3%, the report, based on Federal Reserve (Fed) data, indicated. Had the previous trend continued, Latinos would have $1 billion more in wealth collectively, pointed out Pablo Willis, ATF's director of communications and Latino community relations during the research presentation. «Additionally, Latino households would be $15,000 richer if their wealth had grown at the same rate as white households' wealth,» noted Willis. The main reason for the relative decline is that the Hispanic economy grew at one-third the speed of the white economy, whose wealth increased by 34% in the same period, compared to 12% for Latinos. The effect of Trump's policies. The phenomenon has been worsened by the tax cuts Trump approved in his first term (2017-2021) and the new ones in his 'Great and Beautiful Law' of 2025, which disproportionately benefit the top 0.1% of the country's richest, argued ATF, a coalition of 400 organizations that promotes progressive taxes. Just in 2025, the combined wealth of 'multimillionaires,' those who own at least $1 billion, rose by 22% in total to $8.2 trillion, ATF observed. Furthermore, Trump's reforms, who began his second term in January 2025, involved cuts to health programs like Medicaid, in which Latinos were 30% of enrollees, and food programs like SNAP food stamps, which benefited 10 million Hispanics, with the full effects yet to be seen this year. This occurs even though «Latino workers contribute a great deal» to the U.S. economy, where they are one-fifth of the workforce, «and often pay more taxes than multimillionaires and large corporations,» commented Elena Gaona, communications director for the NETWORK organization. «They are being impacted in several ways right now: less money in their pockets, a higher cost of living due to Trump's economy, and now cut nutrition, housing, and health programs,» she noted. Trump's popularity also falls. The data explains why Trump's disapproval rating among Latinos rose to 63% last November and more than a third of Hispanics who voted for him regret it in a poll by Global Strategy Group (GSG), maintained Emmanuelle Leal-Santillán, national communications director for Somos Votantes. «Throughout our four 2025 polls, we have documented a systemic collapse of Trump with Latino voters, and there is still not a light at the end of this tunnel».
