AI stock boom leaves many behind: ‘It really widens the wealth and income gap’

CNBC

The top 20% wealthiest U.S. households own nearly 93% of all stock — meaning they get the lion’s share of any stock market gains, according to calculations by Edward Nathan Wolff, an economics professor at New York University who studies income and wealth distribution.

“Stock ownership is still heavily concentrated among the rich — the very rich, in fact — and poor families have basically been left out of the picture,” Wolff said.

“As the stock market goes up, it really widens the wealth and income gap,” Wolff said. “It’s a big part of the inequality story.”

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