The richest 1% of people own about 43% of the world’s wealth.
This extraordinary concentration of wealth has grown steadily since the 1980s, driven by rising asset prices and policies that disproportionately benefit capital over labor. Major sources like the World Inequality Database and UBS confirm that this tiny fraction now controls nearly half of global assets.
Building wealth often requires disciplined investing and long-term commitment to growing your assets over time.
Market Wrap
Trade Tariffs Back as Midwest Factories Cool
50% Tariff on EU Imports: President Trump announced plans for a “straight 50% tariff” on all European Union imports starting June 1, triggering a broad sell-off in equities—especially European-exposed names—and sending investors into safer assets.
25% Levy on iPhones: He also threatened a 25% levy on iPhones not made in the U.S., stoking fears of higher costs and supply-chain disruptions for one of the largest tech exporters.
Kansas City Fed Manufacturing Index Contracts More Sharply: The Kansas City Fed’s May Survey of Manufacturers showed its composite index dropped to –10 from –5 in April, signaling a deeper contraction in regional manufacturing activity and highlighting persistent headwinds from slowing production and new orders.
Apple Inc. shares fell after President Trump threatened a 25% tariff on iPhones not made in the U.S., stoking fears of higher costs and supply-chain disruptions.
Intuit Inc. shares surged 8% after the tax-software specialist beat both earnings and revenue estimates and raised its outlook, bucking broader market weakness with strong tax-season results.
Workday Inc. shares dipped as the enterprise-software provider maintained its full-year subscription revenue forecast, disappointing investors who had hoped for an upward revision amid improving market conditions.
Freeport-McMoRan Inc. shares rose alongside peer miners after gold climbed on safe-haven flows, offsetting concerns around tariffs dampening industrial metals demand.
