Top 1% Net Worth Surges to $44 Trillion; Americans' Stock Market Love Affair Drives Record Wealth Growth

The top 1% of Americans now have a combined net worth over $44 trillion due to the booming stock market. Their wealth grew by $2 trillion in the last quarter of 2023.

The value of corporate equities and mutual fund shares held by the top 1% soared 11.6% to $19.7 trillion. However, the value of their privately held businesses declined.

Since 2020, the top 1% has seen $15 trillion added to their wealth, a 49% increase.

Americans at all income levels saw their total yearly net worth hit a record $156.2 trillion, thanks to a 40-year "love affair" with stocks.

The top 10% of Americans own 87% of individually held stocks and mutual funds, while the top 1% own half.