Posted 3/28/2024, 7:39:00 PM
Top 1%'s Wealth Soars 49% to $44T Since 2020, Fueled by Booming Stock Market
- The top 1% of Americans now have a record-high combined net worth of over $44 trillion, owing to the booming stock market
- In just the last quarter of 2023, the net worth of those worth over $11 million rose by $2 trillion
- Almost all of those gains come from the monster rally in stocks at the end of last year
- Since 2020, the top 1% has added $15 trillion to their wealth, a 49% increase
- The top 10% own 87% of individually held stocks and mutual funds, and the top 1% own half of all individually held stocks