Wealth of Top 1% of Americans Surges to Record $52 Trillion

The combined wealth of America's 1 percenters climbed to a record-setting $52 trillion in the spring—enough to purchase every home in the U.S. and still have a couple of trillions left over.

The top 1% of Americans saw their net worth grow by more than $4 trillion in the second quarter of 2025 compared with a year ago, according to the latest available data from the Federal Reserve’s Board of Governors.

This means that some of the most affluent people in the U.S., those with a minimum net worth of $11.2 million according to the Fed's definition, now control roughly 31% of the nation’s total household wealth—and could hypothetically buy the nation's entire housing stock valued at $49.3 trillion in the second quarter.  

Based on the most recent figures released in September, that elite group holds nearly as much wealth as the bottom 90% of U.S. households, which reached a combined total of $54 trillion between April and June 2025. 

Meanwhile, the wealth of the top 10% of the population—those boasting a net worth surpassing $2 million—surged to a staggering $113 trillion, up from $108 trillion in the first quarter and $105 trillion in the second quarter of 2024. 

In other words, the richest 10% of Americans now control more than twice the wealth of the remaining 90% of their compatriots.

For context, over the last decade, the top 10% saw their combined net worth soar a staggering 91%, or over $53 trillion. 

Different sources of wealth

The Fed data reveals that the huge increase in wealth among the top 10% is fueled by the growing value of corporate equities and mutual fund shares during the second quarter—a period in which the S&P 500 rose 10.5% and the Nasdaq jumped 17.5%, according to Reuters.

That deep-pocketed contingent currently controls over 87% of corporate equities and mutual fund shares with a combined value of $44 trillion. 

Meanwhile, real estate accounts for only about 20% of the assets of ultra-prosperous Americans, totaling nearly $22 trillion.

On the other side of the wealth spectrum, the remaining 90% of U.S. households hold just over $6 trillion worth of stocks. Instead, much of everyday Americans' wealth is tied to real estate investments topping $27 trillion.

"Overall wealth and especially financial wealth are concentrated at the top," says Realtor.com® senior economist Jake Krimmel. "And while the top 1% holds more real estate assets than the bottom 50% of households, real estate is a much more important component of most families' balance sheets."

In terms of wealth shares, for the bottom 90% of households, 40% of their assets are in real estate. For the bottom 50%, about half of their assets are in real estate.

"So housing assets are comparatively more important as we move down the economic spectrum," notes Krimmel.

That is why fluctuations in home prices matter more for middle-class homeowners than for those at the top, whose wealth is more reliant on movements in the stock market, according to the economist.

American wealth hubs

The number of ultra-high-net-worth Americans, defined as those with $30 million or more, reached 208,090, according to a recent report from Altrata, which specializes in global wealth intelligence.

A separate report from investment consulting firm Henley & Partners found that the U.S. leads the world in the number of millionaires (6 million+), centi-millionaires with $100 million or more (10,835), as well as billionaires (867).

As of last year, New York City was home to the highest number of millionaires and centi-millionaires, while the tech-driven Bay Area boasted the most billionaires in the U.S., at 82. 

The massive wealth gap between the top 10% and the bottom 90% of Americans has contributed to the rise of what economists are calling a "K-shaped economy," where moneyed Americans are seeing their incomes and net worth skyrocket while their lower-income counterparts are struggling to make ends meet, creating a divergence mimicking the letter “K.”

This trend is felt particularly acutely in real estate, where equity-rich sellers and luxury homebuyers are pushing one end of the market up, while budget-conscious buyers and first-time home shoppers are pulling the other end down.