Record Share of American Wealth Held in Stocks

According to data from the Federal Reserve, a record 33% of the total wealth of U.S. households was invested in stocks at the end of 2025. This figure surpasses the approximately 30% recorded during the meme stock and SPAC mania of 2021 and the 27% seen at the peak of the internet boom in Q1 2000. Analysts from JPMorgan noted that the increasing willingness of households to invest in equities has made retail investors a significant factor in the recent bull market. Between the end of 2024 and 2025, the value of household portfolios increased by 18%, amounting to $10.31 trillion, bringing the total to $67.77 trillion. However, this wealth is not evenly distributed, with the top 10% of American households owning about 87% of total household stock market wealth. This disparity contributes to the current economic environment, where GDP growth is heavily reliant on spending by the wealthy, while the majority of the population has not benefited from the rising market, leading to a decline in real disposable income for many.