Richest Americans See $5 Trillion Wealth Boost Amid Market Boom

America’s richest are getting even richer. The top 10% of U.S. households gained a staggering $5 trillion in wealth during the second quarter of 2025, fueled by a surging stock market, according to new Federal Reserve data.

Their combined wealth now stands at a record $113 trillion, up from $108 trillion in the first quarter. Since 2020, the wealthiest 10%—those worth over $2 million—have added more than $40 trillion to their fortunes. The top 1% alone now control $52 trillion, a 7% rise over the past year.

Meanwhile, the ultra-rich—the top 0.1%, or individuals worth at least $46 million—saw their wealth soar 10% in just one year, nearly doubling since the pandemic to over $23 trillion.

While wealth grew across all groups, gains remain highly uneven. The bottom half of Americans saw only a 6% increase in net worth. Wealth distribution has barely shifted in decades: the top 1% hold 29% of household wealth, and the top 10% control two-thirds of the nation’s total.

The stock market remains the key driver, with the top 10% owning 87% of all corporate equities and mutual funds. As share prices climb, the number of ultra-wealthy Americans—those worth over $30 million—has jumped 6.5% in 2025, now totaling more than 208,000 individuals, or 41% of the world’s ultra-rich.

But experts warn this wealth surge comes with risks. Economist Mark Zandi cautioned that the economy’s heavy reliance on elite spending—accounting for nearly half of all consumer purchases—could make it vulnerable. A major market downturn could cool spending among the wealthy and destabilize the broader economy.

“If the stock market stumbles, the well-to-do will pull back fast,” Zandi said. “That could pose a serious threat to an already fragile economy.”