New data from the Federal Reserve shows the most affluent Americans own a staggering portion of the country’s national wealth.
In an update, the Fed says that the wealthiest 10% of Americans have accumulated $107.794 trillion in assets and entitlements as of the last quarter of 2024.
Data shows the 50% to 90% cohort now holds $48.54 trillion, while the bottom 50% have just $4.01 trillion in wealth.
The top 0.1% are worth a total of $22.14 trillion, while those who belong to the 99% to 99.99% have an overall wealth of $27.32 trillion. Americans in the 90%-99% percentile in terms of wealth are in charge of $58.334 trillion.
Breaking down the assets controlled by the wealthiest 10%, the Fed’s data shows that they have allocated a huge chunk of their fortune – $40.84 trillion – to corporate equities and mutual fund shares as of Q4 2024.
Those who belong to the 50% to 90% and the bottom 50% are mostly invested in real estate, allocating a total of $26.99 trillion to properties. They also hold $5.99 trillion in stocks and mutual fund shares.
According to Federal Reserve data, 133,378 American households belong in the top 0.1%, 1.198 million households are in the 99% to 99.9% and 11.992 million households make up the upper 90% to 99%.
Meanwhile, 53.305 million households are part of the 50% to 90%, and the bottom 50% are made up of 66.646 million households.
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