Why do top 1% own over half of all Wealth? (Patreon)

Short answer - Stocks!

New answer - Stocks and BTC and very select crypto names - Crypto is still early.

Proof it is stocks?

Where millionaires invest their money:

Portfolio Allocation:

The richest 1% of Americans significantly outpace the rest in stock ownership, with the top 1% owning more than half of all U.S. equities. This starkly contrasts with the bottom 50% of households, who only allocate 4% of their wealth to stocks, highlighting the importance of equity investments.

Affluent Retail Investors' Strategies:

Investors with a median balance of $1M tend to have a long-term risk orientation with a portfolio composition of approximately 64% in equities. They show a preference for U.S. markets, retain some exposure to actively managed funds despite their criticism, and value diversification, with only a small portion of their portfolio (5%) dedicated to individual securities. This stunned me.

Ultra High Net Worth Individuals (UHNW) Allocation:

UHNWs with assets over $30 million have a notably different approach, with only 30% in equities but have alternative investments (46%), which includes private equity and hedge funds.