Key facts
- U.S. households held a record 33% of their total wealth in stocks at the end of 2025.
- This surpasses the ~30% during the 2021 meme stock and SPAC mania.
- Household portfolios increased 18%, or $10.31 trillion, to $67.77 trillion between late 2024 and 2025.
- The richest 10% of American households owned approximately 87% of total household stock market wealth.
- The S&P 500 has risen 10% so far this year.
Americans are holding a record portion of their wealth in the stock market, with 33% of total U.S. household sector wealth invested in stocks at the end of 2025. This figure surpasses previous peaks, including the ~30% seen during the 2021 meme stock and SPAC mania and the ~27% at the Q1 2000 dot-com bubble peak. The value of household portfolios has surged by 18%, or $10.31 trillion, to $67.77 trillion between late 2024 and 2025. The S&P 500's 10% rise so far this year likely means these stock market riches are at new records. However, this wealth is not evenly distributed; the wealthiest 10% of American households own approximately 87% of the total household stock market wealth. This concentration contributes to a K-shaped economy, where GDP growth is increasingly driven by the spending of the wealthy, who feel financially secure due to stock market gains. In contrast, the remaining 90% of the population has not benefited significantly from the booming market, while facing inflation that erodes their real disposable income, leading to dissatisfaction among those whose savings accounts are shrinking.
