Tags: Financial Markets | Money | stock market | goldman sachs | 1 percent | wall street

Goldman Sachs: Top 1 Percent Own Half of Stocks in US

a computer screen shows the landmark moment the dow jones industrials average exceed 25,000 for the first time
(Mark Lennihan/AP)

By    |   Thursday, 17 January 2019 08:50 PM

The richest 1 percent of households own half of all the stocks in the United States, a Goldman Sachs executive claimed.

Speaking with Yahoo, the investment bank's chief economist Daan Struyven said the number has risen sharply over the past 30 years.

"The wealthiest 0.1 percent and 1 percent of households now own about 17 percent and 50 percent of total household equities respectively, up significantly from 13 percent and 39 percent in the late 80s," Struyven said.

The data was through 2016, and it is unclear how much it has changed over the past two years.

The stock market enjoyed a strong 2017 but swung wildly in 2018, with the Dow Jones Industrial Average finishing the year down 5.6 percent. It was the worst year for U.S. stocks since 2008.

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Half of all the stocks in the United States are owned by the richest 1 percent of households, according to a Goldman Sachs executive's claim.
stock market, goldman sachs, 1 percent, wall street
Thursday, 17 January 2019 08:50 PM
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