Surging stock market, Trump policies boost wealth for top 1%

Photo: Elon Musk speaking at the 2025 Conservative Political Action Conference (CPAC) at the Gaylord National Resort & Convention Center in National Harbor, Maryland – February 20, 2025. Photo credit: Gage Skidmore via Flickr. CC BY-SA 2.0. Article by Tim Henderson. Stateline – June 16, 2026.

When SpaceX, Elon Musk’s rocket and artificial intelligence company, began trading on the stock market last week, he became the world’s first trillionaire. The SpaceX IPO made the world’s richest man even richer, grabbing headlines worldwide. But it is merely the most vivid illustration of a U.S. trend that has been accelerating since 2022. The richest 1% of Americans held nearly a third of the country’s total wealth at the end of 2025, the largest percentage the Federal Reserve Board has recorded since it started monitoring the numbers in 1989. In 1990, the share was 22.5%. […]

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