- Mar 21, 2014
The Richest 10% of Americans Now Own 84% of All StocksLinks to some data, please.
Edit: The reason I ask is because your 84%/10% figure is inconsistent with the commonly-cited figure that passive funds own about 40% of the US market cap. I guess it could be true if the definition of "individual" includes individual mutual funds like the Vanguard Total Stock Market Index Fund. In that case, though, the 84/10 is quite misleading.
Info is from a 2016 paper from the National Bureau of Economic Research.
The paper costs money, so it's also been summarized in more depth by Politifact.
The argument about mutual funds is a bit of an odd one, since you're basically talking about a shell game. You need to look at the distribution of ownership of the mutual fund itself. Those ETFs are owned by individual and institutions, and down the line, eventually all those other institutions are owned by individuals. The wealth is inordinately concentrated in very few hands. This is not a controversial statement.