Trump says everybody’s profiting from market gains, but mostly the 1%
U.S. President Donald Trump speaks during the dedication of the Theodore Roosevelt Presidential Library in Medora, North Dakota, USA, on July 1, 2026.
Evan Vucci | Reuters
President Donald Trump’s crypto-related income and holdings in companies like Apple, Microsoft and Nvidia have earned him millions of dollars, according to his annual financial disclosure report.
“Do you know why I profit? When the stock market goes up, everybody profits,” Trump told reporters on Wednesday.
Of course, in the first six months of the year, the Dow Jones Industrial Average rose 8.9%, marking its best first-half performance since 2021. The S&P 500 rose 9.6% and the Nasdaq Composite rose 12.8%. The small-cap Russell 2000 rose nearly 22%, its best first-half performance since 1991.
However, not everyone shares the positive trend of the market.
Research shows that stock wealth is largely accumulated by the richest households in the United States.
According to a Gallup Poll frequently cited by Treasury Secretary Scott Bessent, 38% of American households has no exposure to equities.
Among investors, stock ownership is heavily concentrated among the country’s top earners.
A growing wealth gap
According to the latest data, as of the first quarter of 2026, the top 1 percent owned half of institutional equities and mutual fund shares, or about $27.64 trillion. Federal Reserve dataThe top 10% of Americans hold more than 87%.
Meanwhile, the bottom 50 percent of households collectively held just 1 percent of this stock and mutual fund wealth ($590 billion).
“Half of Americans actually don’t own any stocks,” said Mark Zandi, chief economist at Moody’s. And “to get into the top 1 percent, you need to make more than $750,000 a year.”
These dynamics have worsened the wealth gap with the last bull market, he said.
“A rising stock market is hugely beneficial to the finances of the wealthy, but it doesn’t mean much to most Americans,” Zandi said.
Bessent and other proponents of the soon-to-launch Trump Accounts say investing in U.S. stocks could help narrow the gap by creating more wealth-building opportunities for children at all income levels.
Brad Gerstner, CEO of Altimeter Capital, which leads the investment accounts, said during an appearance on CNBC’s “Halftime Report” on June 12: “We need to put capital in the pockets of every child that is born, so that they can achieve positive results, like everyone else in the market, from SpaceX to Alphabet, all the big companies.”
According to a new analysis Trump Accounts could potentially generate $80 billion to more than $900 billion in long-term asset accumulation for low-wealth households over the next decade, according to consulting firm McKinsey. However, participation, contribution models and continued engagement are key factors in these results.
