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Top 1percent

All articles tagged with #top 1percent

economy1 year ago•3 min saved

"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.

via CNBC|

#consumer-spending #economy #federal-reserve

wealth-and-income-inequality1 year ago•2 min saved

"The Rising Bar for Joining the World's Richest 1%"

In the U.S., the threshold to join the top 1% of wealth has risen to $5.8 million, a 12% increase from the previous year, while Monaco requires a staggering $12.9 million. Other countries with high thresholds include Luxembourg and Switzerland. As high inflation and rising interest rates continue to impact lower- and middle-income Americans, a recent study shows that a six-figure salary is losing its purchasing power, especially in expensive cities. Meanwhile, the wealthiest 400 Americans have seen their net worth soar to a collective $4.5 trillion, marking the highest level since 2021.

via Fox Business|

#global-wealth-distribution #high-inflation #net-worth

economy2 years ago•4 min saved

Wealth gap widens as top 1% see exponential wage growth

The top 1% of American earners now own more wealth than the entire middle class, according to Federal Reserve data. The top 1% holds $38.7 trillion in wealth, surpassing the combined wealth of the middle class. Real estate, stocks, and owning a private business are key factors contributing to the concentration of wealth among the rich. While economists debate the implications of this wealth disparity, stagnant wages and wealth among the middle class hinder economic growth and opportunity. Homeownership, investing in stocks, and pursuing education are suggested strategies for middle-class Americans to access economic opportunities.

via USA TODAY|

#economic-opportunity #economy #education