At the end of the fourth quarter, the wealth of the top 1% hit a record $44.6 trillion as an end of annual stock rally lifted their portfolios. In the fourth quarter the total net worth of the top 1%, defined by the Fed as those with wealth over $11 million, increased by $2 trillion from $17.65 trillion the previous quarter. While their real estate values rose, the value of their privately held businesses essentially declined, essentially canceling out all other gains outside of stocks. Since 2020, Source
