Wealth inequality in America reaches highest level in over 30 years

Data from the Federal Reserve indicates a continuing K-shaped economy in the U.S., where wealth inequality is rising, with the top 1% owning a record 31.7% of all wealth, equivalent to the bottom 90% combined. This disparity has worsened since the pandemic, driven by surging stock prices primarily benefiting wealthier households, while lower-income Americans face stagnating wages and rising debt. In the second quarter of 2025, the top 10% accounted for nearly half of U.S. consumer spending. Elon Musk leads the list of billionaires, whose fortunes have grown rapidly, reflecting broader trends in wealth concentration.

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