In 1984, the median white family had a net worth (excluding home equity) of a little over $20,000. As of 2007, it was closer to $100,000. But, for the entire time period, the median black family has had a net worth over under $5,000, remaining essentially flat.
The non-home equity wealth of the highest income third of African-American families has actually fallen from 1984 levels to $18,000 in 2007. White in the middle third of the income distribution have seen their wealth increase to $74,000 in 2007, and the wealth of white families in the top third of the income distribution has increased even more, to about $240,000.
About 40% of African-American families have no net worth or negative net worth. Less than 10% of white families have no net worth or negative net worth (the 10th percentile net worth was $100 for white families).
The wealth gap by race is large even controlling for income.