Australia has a GDP of around $1.9 trillion but a median wealth of $274K. The US has a GDP of $30 trillion and a median wealth of $107K. Despite being the richest country in the world by far, median wealth in the US is lower than many countries due to rampant wealth inequality.

The claim consists of three main components: 1) Australia's GDP is around $1.9 trillion with a median wealth of $274K; 2) The US has a GDP of about $30 trillion and a median wealth of $107K; 3) Despite the US being the richest country by GDP, its median wealth is lower than many countries due to high wealth inequality.

For the first component, multiple sources confirm Australia's GDP is close to $1.75-$1.9 trillion USD as of recent data.tradingeconomics.comtradingeconomics.comAustralia GDP Median wealth figures for Australia around $274K are consistent with data from global wealth reports such as Credit Suisse's Global Wealth Report, which places Australia's median household wealth in that range, though this figure can vary slightly depending on the source and year.

Regarding the US, its GDP is indeed approximately $30 trillion USD as per recent World Bank and IMF data.nationmaster.comnationmaster.comAustralia vs United States: Economy Facts and Stats The median wealth figure of about $107K aligns with estimates from sources like the Federal Reserve's Survey of Consumer Finances and global wealth reports, which show US median household net worth significantly lower than Australia's despite higher average wealth.

The third part of the claim about the US having lower median wealth than many countries despite its large GDP is supported by economic analyses highlighting the impact of wealth inequality in the US. The US has one of the highest levels of wealth inequality among developed nations, which depresses median wealth figures relative to GDP size. This explains why median wealth in the US can be lower than in countries with smaller economies but more equitable wealth distribution.

Some nuance includes that GDP measures total economic output and does not directly translate to individual or household wealth. Median wealth depends on asset distribution and social policies. Australia's social safety nets and housing market contribute to higher median household wealth compared to the US.

Overall, while exact numbers may vary slightly by source and year, the claim accurately captures the relative scale of GDP and median wealth for both countries and correctly attributes lower US median wealth to inequality.