The richest 10% of the U.S. own 89% of all stocks all-time high

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In the United States, the richest 10% own nearly 90% of all US stocks.

Citing the latest data from the Federal Reserve, CNBC, an economics media outlet, reported that as of the second quarter, the top 10% of the wealthiest owned 89% of stocks in the United States, a record high.

On the other hand, the share of stocks held by the bottom 90% of Americans before the COVID-19 crisis was 12%, but after the COVID-19 pandemic, it has slightly decreased to 11%.

CNBC's analysis shows that the COVID-19 pandemic has played a role in increasing wealth inequality.

Also, from January last year to June this year, the value of stocks held by the top 10% of Americans surged 43%, 10 percentage points higher than the 33% increase in the value of stocks held by the bottom 90% of Americans over the same period.

In addition, young individual investors who entered the stock market after the COVID-19 pandemic were more likely to acquire stocks at relatively higher prices than the wealthy, CNBC reported.

Also, according to statistics from the Federal Reserve, the wealthiest people in the top 1% accounted for 32% of all U.S. wealth as of the second quarter, setting a new record, CNBC reported.

(Photo = Getty Images Korea)