Need a politician once said “the top 1% of wealthiest americans own as much wealth as 90% of the rest of americans” what do you believe to be true and/or untrue about this statement?

The statement in general is true. The estimates say that only 1% of the Americans do possess around 90% of the wealth in the country. It should be added though that it is not the same people that control the majority of the wealth, as the majority of the people that are in that top 1% are changing over time, with other people over taking their places, while some of them lose their wealth or stagnate. There's only a handful of people that since they entered the top 1% have never fallen out of it.