Top 20% Hold 87% of Stock Market Wealth

“Rising stock prices help a very small slice of folks at the top, and the rich don’t spend much of those gains — which would at least drive overall economic growth,” Axios reports.

“The top 20% of income earners in the U.S. hold about 87% of stocks and mutual funds — that amounts to $55 trillion as of June, up from $45 trillion a year ago.”

“The bottom 80% holds about $8 trillion and has seen less of a gain in dollars — up from $7 trillion last year.”