Top 1% Wealth Hits Record $52 Trillion as Stock Market Gains Favor Wealthiest Americans
By
thelastgallon
4mo ago· 4 min readenNews
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Summary
The article reports that the wealth of the top 1% of Americans has reached a record $52 trillion, with the top 10% adding $5 trillion to their wealth in the second quarter as stock market gains disproportionately benefit the wealthiest investors. While all wealth groups saw gains over the past year according to Federal Reserve data, the growth has been fastest for those at the very top, with the top 10% now holding $113 trillion in total wealth.
Key quotes
· 3 pulledThe top 10% of Americans added $5 trillion to their wealth in the second quarter as the stock market rally continued to benefit the biggest investors
The total wealth of the top 10% — or those with a net worth of more than $2 million — reached a record $113 trillion in the second quarter
All wealth groups saw gains over the past year, according to recent Fed data. But the growth has been fastest for those at the very top
All wealth groups saw gains over the past year, according to recent Fed data. But the growth has been fastest for those at the very top.
