đź”´WEALTH INEQUALITY: Richest 10% of Americans OWN 89% of All US Stocks (Report)
The top 1% incredibly gained more than $6.5 TRILLION in corporate entities and mutual fund wealth during the Covid-19 pandemic – while the bottom 90% added $1.2tn, according to the latest data from the Federal Reserve.
The growing concentration of wealth comes despite millions of new investors coming into the stock market for the first time during the pandemic, leading to what many have labeled “the democratization” of stocks.
Robinhood added more than 10mn new accounts over the past two years and now has over 22mn — many of them held by younger, first-time investors. Although, the total wealth of the top 1% now hold over 32% in stocks, a record, according to the Fed data.
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The top 1% incredibly gained more than $6.5 TRILLION in corporate entities and mutual fund wealth during the Covid-19 pandemic – while the bottom 90% added $1.2tn, according to the latest data from the Federal Reserve.
The growing concentration of wealth comes despite millions of new investors coming into the stock market for the first time during the pandemic, leading to what many have labeled “the democratization” of stocks.
Robinhood added more than 10mn new accounts over the past two years and now has over 22mn — many of them held by younger, first-time investors. Although, the total wealth of the top 1% now hold over 32% in stocks, a record, according to the Fed data.
Subscribe to RT News: t.me/rtintl
06:13 PM - Oct 19, 2021
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