00:00It's Benzinga, bringing Wall Street to Main Street
00:02The wealthiest 0.1% of Americans have more than doubled their total wealth since the
00:07end of 2019, according to the Wall Street Journal.
00:09Federal Reserve data shows that the group gained $14.5 trillion during that period,
00:14including about $10 trillion from stocks and mutual funds.
00:17The top 0.1% now control about $28 trillion, or 15% of the nation's nearly $186 trillion
00:25in total wealth.
00:26Their average household wealth exceeds $200 million.
00:30The nation's top 0.1% have pulled further ahead as a stock market boom fueled by strong
00:35corporate earnings and high-flying tech stocks adds to decades of wealth gains from higher
00:39incomes and lower tax rates.
00:41In the year ended June 30th, when the S&P 500 gained 21%, the group added nearly $4 trillion
00:47from the market.
00:49By comparison, the bottom 50% of Americans hold about $4 trillion in total wealth.
00:53For all things money, visit Benzinga.com.
