America's Top 1% Hold $7.6 Trillion in Non-Corporate Equity
(Bloomberg) -- Wealth held in non-corporate companies such as partnerships, family businesses or sole proprietorships rose to a record $13.2 trillion in the second quarter, according to Federal Reserve data.
This wealth is primarily held by the richest 1% of households. This group holds 58% of equity in non-corporate business, worth some $7.6 trillion. The next 9% of households hold 30% of the total, or almost $4 trillion. The bottom 90% of U.S. households hold the remaining 12.5%.
Wealth held in non-corporate business has doubled since the recession ended a decade ago.
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