This isn’t really news. Just a numerological milestone. So more people are getting rich than ever. Hopefully we can make that number even higher.
No, the top percentile is, not everyone. That's the problem. Income inequality is getting worse.
This one single piece of data confirms the "stagnating feeling" of many people who are not rapidly expanding their net worth-- even just maintaining it is good work these days in the face of rising costs of living.
Situation B: You have 10 guys making $100K and 90 guys making $25K.
Situation B is better and it has more inequality. That's what we're seeing the past few decades, as people leave the middle class (in an upward direction).
The situation A is actually better, for 90% of the people.
The single outlier is not relevant when it comes to buying power, he doesn't move the market upward. Housing, food and commodities are needed by everyone so it's fixed by the 99% and accessible to everyone.
On the other hand, that's a new market class when there are enough participants like example B. They're going to compete with one another to get all the nicest houses, locations, cars, food, etc... that will be adjusted higher in proportion to what they can pay.
Sure, in some markets (limited supply of housing) more money just increases prices, but that’s an exception, not the rule.