America's Richest Have Never Controlled This Much of the Nation's Income as Top 0.00001% Hits Record 12% Share The wealthiest 0.00001% of Americans now control a record 12% of U.S. national income, the highest level ever recorded, as surging equity markets and rising real estate values continue concentrating gains at the very top. With the U.S. population at roughly 342.6 million, the group in question represents approximately 34 individuals. Data cited by The Kobeissi Letter shows this group's share of national income has more than quadrupled since the 2008 financial crisis, a sharp acceleration from the period between the 1950s and 1990s when the measure never exceeded 1%. Analysts attributed the surge primarily to record stock market gains and climbing home values, noting that "asset owners are the only winners." Sen. Bernie Sanders blamed President Donald Trump's tax legislation for accelerating the trend, saying the bill's $1 trillion in tax breaks for the top 1% benefited wealthy Americans while cutting healthcare coverage for lower-income households. The political commentary added context to what the underlying data presents as a decades-long structural shift in how economic gains are distributed across the population. A UBS Global Wealth Report found that the U.S. added more than 441,000 new millionaires in 2025, accounting for nearly half of all new millionaires created globally. The juxtaposition of record wealth concentration at the very top alongside widespread financial stress across most income levels has intensified the policy debate in Washington.