image text translation
Big Spender
Share of Us Personal Spending by Income Bracket
Bottom 609
6096-9096
TOP 109
509
40
1990
1996
2002
2008
2014
2020
2024
Source: Moody’s Analytics
Hey;
The amount of money spent by the top 10% income (more than $ 250,000 annual income)
It’s equivalent to the remaining 90%
The gap is getting deeper
image text translation
EXHIBIT 7: Equity Ownership Across the Wealth Distribution
as of 4Q 2024
10093
9093
Breakdown of Household
Equity andmutual Fund
8093
OWNERSHIP by Wealth Percentile
439
(S62 Trillion)
7093
51
19
6093
5093
4093
3696
3093
36
Next 99
2093
1093
1946
12 next 409
19
093
Bottom 509
1990
1995
2000
2003
2010
2015
2020
The “Household” sector described in the dfas includes retail information and private function
AS
HEDGE FUNDS)
Source: Federal Reserve Goldman Sachs Global Investment Research
Top
The top 1%hold 51%of the total stock
The bottom 50%hold 1%of the total stock
image text translation
1% of U.S Earners Now More Wealth Than the MidDle
class
Share of All Household Wealth, Q2,1993-2023
Wealth (O6)
196 Wyealth
“IDDTH C1ASS
Source FedEfaleserve. MIDLE Class RS Earnets Betware Z0RH andBoth Peicenuile Olincome
Top
Top
2010
Vyeear
Now the top 1%has more assets than the whole middle class.
image text translation
@Richest 0.1%
America’S
of Americans
S22,3T
134,000 households
Wealth
S2, ot
OIVIDE
Total Assets
As of Q3 2024
S630B
Real Estate
Consumer Durable Goods
Equities
PENSIONS
S1lot
Private Businesses
Other Assets
The
0196 OWN More Wealth
Includes alternative Investments
In Stocks Than the Bottom 5096
Cryptocurrency
hasin total assets
@Bottom 50%
of Americans
S9.9T
67m households
‘S510B_
S49T
MOST Americans’ LargeSt Asset
Is their Primary Residence
S44T
S19T
S3.9T
9480b
FIGURES May Not SUM (0 IDO DUE TO ROUNDING AS0F03 2024
S12T
The Equiiliies Category Only
Source: Federal Reserve
S17OB
Visual Capitalist
S14T
Top
The top 0.1%has more than twice the assets of the bottom 50%.
image text translation
Us Wealth Diilribuilon
Thisis everyone
Ivateom 701
Ohont
ILOTOM 77 1
WVATTE 77 91
LRORRORA
Yop o1
EAP 1OO
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U JT0 University N_DTAURIULIULOIOLOIASMAIO I-RR Ha R Ha R
Russia S-TTR C TWVIN LTANA High 7-T “
Let’s see the entire asset allocation status as a graph
This is not an empty graph
Watch the right end well
image text translation
Us Wealth Diilribuilon
TOP 0.17
132 U -‘Gibar
Ivate
Ohont
ILOTOM 77 1
WVATTE 77 91
VRORRORA
Vopoti
EAP 1OO
WEEANWRS MRO-TDCASEMUNLEKMLURIRRARRARRARRARRARLIARLONOW
U JT0 University N_DTAURIULIULOIOLOIASMAIO I-RR Ha R Ha R
Russia S-TTR C TWVIN LTANA High 7-T “
There is no big difference even when you zoom in the top 0.1%
image text translation
Us Wealth Diilribuilon
Billionaires
4 Turni Week W 7
w
4593141
[41
4141
me
R uh +4 “
}
41793147
n
44344
uon
Y
444+07
415v17
4414
41 Ma
7
w
Myyrt
Ivate
Ohont
ILOTOM 77 1
WVATTE 77 91
VRORRORA
Yop o1
EAP 1OO
“CEANWR MRO-TDCASEMUNLEKMLURIRRARRARRACMLIARLONO w
U JT0 University N_DTAURIULIULOIOLOIASMAIO I-RR Ha R Ha R
9 T35A
Only
This is the top 0.00021%