The top 10% of Americans increased their wealth by $5 trillion in the second quarter, reaching a record $113 trillion, with the top 1% seeing a $4 trillion increase to $52 trillion. The top 0.1% saw their wealth grow by 10% to over $23 trillion, with the ultra-wealthy population growing rapidly.

Wealth gains at the top have been primarily driven by the stock market, with the top 10% holding over 87% of corporate equities and mutual fund shares. The number of ultra-high-net-worth Americans grew 6.5% in the first half of 2025, now totaling 208,090 individuals in the U.S.

Consumers in the top 10% accounted for 49.2% of consumer spending in the second quarter, the highest level since 1989. The “K-shaped economy” has led to a growing dependence on wealthy consumers, which poses risks if there is a deep decline in the stock market, potentially impacting the wider economy.

Read more at CNBC: The wealth of the top 1% reaches a record $52 trillion