"Record $44 Trillion: 1% Wealth Hits All-Time High"

The wealth of the top 1% reached a record $44.6 trillion at the end of the fourth quarter, with a $2 trillion increase driven by stock holdings. This surge in wealth, mainly from the stock market, has contributed to a rising wealth tide for middle-class Americans as well. Economists note that the wealth effect from surging stock prices boosts consumer confidence and spending, but also highlights the vulnerability of the economy if the stock market were to falter. The report also underscores the top-heavy stock ownership in the U.S., with the top 10% owning 87% of individually held stocks and mutual funds.