How the Rich Use Their Money

Key takeaways

• Ownership matters: in mid-2026 the richest 1% of Americans held 32.5% of all wealth and 50.9% of the shares US households hold, while the bottom half held 2.3% of wealth (US Federal Reserve).
• The rich spread their money: in Capgemini's 2026 survey, wealthy investors put on average 25% in shares, 20% in bonds and 12% in other investments. Luxury items are not a sure bet either: Knight Frank's luxury index fell 0.4% in 2025.
• Some borrow instead of selling: ProPublica found the 25 richest Americans' wealth rose $401 billion in 2014–2018 while the income tax they paid equalled about 3.4% of that growth. That is ProPublica's own measure, not the legal tax rate; US law does not tax unsold gains as income, and loans backed by shares carry real risk.
• Many spend less than they earn: in a self-reported 2017–2018 survey of US millionaires by Ramsey Solutions, 94% said they spend less than their income and 79% said they inherited nothing.
• Giving and the next generation: Warren Buffett pledged more than 99% of his wealth to charity, and UBS estimates that about $6.9 trillion will pass from billionaires by 2040, at least $5.9 trillion of it to their children.