Wealth Concentration in the US: The Top 10% Control 87% of Stocks
2025-03-03
New data reveals a staggering concentration of wealth in the US, with the top 10% owning 87% of stocks, 84% of private businesses, 44% of real estate, and two-thirds of total wealth. This concentration has been steadily increasing since 1989. Even more alarming, the top 10% now accounts for 50% of all consumer spending, up from 36% three decades ago, with their spending increasing by 12% between September 2023 and September 2024 while working- and middle-class spending declined. This extreme wealth concentration poses significant economic risks, making traditional economic indicators less reliable and highlighting the uncertainty of the future.