Business
The wealth of the top 1% reaches a record $52 trillion
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.
The top 10% of Americans added $5 trillion to their wealth in the second quarter as the stock market rally continued to benefit the biggest investors, according to new data from the Federal Reserve.
The total wealth of the top 10% — or those with a net worth of more than $2 million — reached a record $113 trillion in the second quarter, up from $108 trillion in the first quarter, according to the Fed. The increase follows three years of continued growth for those at the top, with the top 10% adding over $40 trillion to their wealth since 2020.
All wealth groups saw gains over the past year, with the net worth of the bottom half of Americans increasing 6% over the past 12 months, according to the Fed data. Yet the growth has been fastest for those at the very top. The top 1% have seen their wealth increase by $4 trillion over the past year, an increase of 7%. Their wealth hit a record $52 trillion in the second quarter.
The top 0.1% saw their wealth grow by 10% over the past year. Since the pandemic, the top 0.1%, or those with a net worth of at least $46 million, have seen their total wealth nearly double to over $23 trillion.
Despite the recent faster growth at the top, the total shares of wealth held by the upper echelon has remained fairly stable for decades. The top 1% held 29% of total household wealth in the second quarter, compared with 28% in 2000. The top 10% held 67% of total household wealth in the quarter while the bottom 90% held 33%.
The biggest driver of wealth gains at the top this year has been the stock market. The value of the corporate equities and mutual fund shares held by the top 10% increased from $39 trillion to over $44 trillion over the past year. The top 10% of Americans hold over 87% of corporate equities and mutual fund shares.
The population of the ultra-wealthy is also growing rapidly. The number of ultra-high-net-worth Americans, or those worth $30 million or more, grew 6.5% in the first half of 2025, after surging 21% last year, according to a new report from Altrata. There are now 208,090 ultra-high-net-worth individuals in the U.S., accounting for 41% of the world’s total.
The surging wealth at the top has created an increasingly bifurcated consumer economy, with the wealthy accounting for a growing share of overall spending. Consumers in the top 10% of the income distribution accounted for 49.2% of consumer spending in the second quarter, marking the highest level since data started being compiled in 1989, according to Mark Zandi at Moody’s Analytics.
The so-called “K-shaped economy” has performed well so far, at least according to broad economic measures such as GDP and consumption. Yet the growing dependence on a small sliver of consumers at the top carries risks.
Zandi said a deep and prolonged decline in the stock market, which is driving almost all of the wealth gains at the top, could send wider ripples through the economy.
“The economy is being powered in big part by the spending of the extraordinarily well-to-do, who are cheered by the surging value of their stock portfolios,” he said. “If the richly (over) valued stock market were to stumble, for whatever reason, and the well-to-do see more red on their stock tickers than green, they will quickly turn more cautious in their spending, posing a serious threat to the already fragile economy.”
Business
BVG India IPO: Fresh Issue Of Rs 300 Crore, Existing Shareholders To Sell 2.85 Crore Shares
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BVG India Limited files DRHP with SEBI for IPO, offering Rs 300 crore fresh issue and OFS. With 85000 staff and Rs 3301.8 crore revenue.
Upcoming IPO Calendar
BVG India IPO: Pune-headquartered BVG India Limited, the country’s largest integrated facility management (IFM) services provider, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to launch its Initial Public Offering (IPO).
BVG India IPO Composition
The issue comprises a fresh issue of equity shares aggregating up to Rs 300 crore and an offer for sale (OFS) of up to 2.85 crore equity shares by existing shareholders. Out of the fresh issue proceeds, Rs 250 crore has been earmarked for repayment or pre-payment of borrowings, while the balance will be deployed towards general corporate purposes.
About BVG India Company
The company operates through three business verticals—Integrated Facility Management (IFM), Emergency Response Services (ERS), and Environment & Sustainability Services (ESS)—catering to clients across industrial, commercial, healthcare, education, government and transport infrastructure sectors.
Under IFM, BVG India provides soft services such as mechanised housekeeping, janitorial services, industrial housekeeping, manpower supply, security, office support and retail fuel outlet maintenance; hard services including electro-mechanical works, mechanical, electrical and plumbing (MEP) services, repairs and maintenance, road management, city cleaning and infrastructure upkeep; and specialised services like catering, paint-shop cleaning, back-office support, logistics management, and fleet operation, including EV bus management. The company is also a trusted partner to the Indian Railways, managing station facility operations, rolling stock and track maintenance, and on-board housekeeping.
Through ERS, BVG India pioneered police emergency response in India and introduced ambulances equipped with advanced medical devices and staffed with doctors. Notably, BVG India introduced the practice of staffing ambulances with doctors, setting new benchmarks for emergency medical care and reinforcing its leadership in public service delivery. Under ESS, it delivers waste management, horticulture, landscaping, afforestation, lake rejuvenation, and smart city projects, while also producing solar modules and installation and maintenance for solar projects nationwide.
BVG India Financials
As of 31 March 2025, BVG India had a workforce of over 85,000 employees operating across 2,218 active sites nationwide, making it one of the largest employers in the facility management space. For FY25, the company reported revenue from operations of ₹3,301.8 crore, total income of ₹3,319.5 crore, and profit after tax of ₹207.2 crore, translating into a healthy Return on Equity (ROE) of 17.44%. Its robust financial performance and diversified business model highlight its ability to scale operations while maintaining profitability.
The IPO will be managed by ICICI Securities Limited, JM Financial Limited and Motilal Oswal Investment Advisors Limited, with MUFG Intime India Private Limited acting as the registrar.
The global outsourced Facility Management (FM) market, valued at USD 1,030 billion in 2024, has grown at a CAGR of 4.2% from 2019 to 2024, recovering from the pandemic-led disruption and regaining pre-2020 spending levels by late 2021. With rising infrastructure investments, rapid industrialisation, the development of smart buildings and increasing adoption of digital solutions, the market is expected to grow strongly. Government initiatives in emerging economies to contract private operators for clean, green and smart infrastructure further open up opportunities. By 2029, the outsourced FM market is projected to reach USD 1,495.1 billion, growing at a CAGR of 7.7% between 2024 and 2029.
With its leadership position, diverse service portfolio, strong execution track record and commitment to sustainability, BVG India is strategically placed to benefit from these industry tailwinds and strengthen its position as a pioneer in integrated facility management and allied services in India.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
October 03, 2025, 18:00 IST
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A study finds divorce in India causes financial strain; men often take loans for alimony, while women’s net worth usually rises after settlements.
News18
Divorce in India is not just an emotional and social upheaval—it carries a heavy financial cost, often reshaping the lives of both men and women. A new study surveying 1,258 divorced individuals across Tier-1 and Tier-2 cities has highlighted the deep economic scars left behind by marital dissolutions.
One of the starkest findings is that 42% of men had to take loans to meet alimony or divorce-related expenses, according to 1 Finance Magazine study.
On average, men spent about 38% of their annual income on maintenance payments, significantly cutting into their savings and financial freedom.
Women, on the other hand, faced challenges of a different kind. Nearly 46% of women either quit their jobs or reduced their work intensity after marriage, leading to financial dependence on their spouses. Post-divorce, however, many saw an improvement in their financial position—49% reported an increase in net worth, often due to alimony settlements. Notably, more than half of women surveyed received over 50% of their husband’s net worth as part of the settlement, with some cases crossing even 100%.
The cost of divorce proceedings added to the strain. While 84% of women spent within the Rs 5 lakh bracket, almost half of the men reported expenses exceeding Rs 5 lakh. Beyond legal fees, costs included relocation, interim maintenance, and emotional health support.
Experts say the findings underline the urgent need for financial transparency and premarital money discussions. Clear agreements on household expenses, debt responsibilities, and savings goals could reduce future conflicts.
“Divorce isn’t just emotional; it’s financial too,” noted Aditi Mohoni as quoted by 1 Finance Magazine, a family lawyer, stressing the importance of early financial planning to mitigate long-term strain.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
October 03, 2025, 17:46 IST
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Business
Global recognition: India wins ISSA Award 2025 for social security; coverage jumps from 19% to 64% in a decade – The Times of India
India has been recognised globally for its strides in social protection, becoming the fifth country to win the prestigious International Social Security Association (ISSA) Award for Outstanding Achievement in Social Security.The honour was conferred at the World Social Security Forum (WSSF) in Kuala Lumpur, Malaysia, where Union Labour and Employment Minister Mansukh Mandaviya received the award on behalf of the government, PTI reported.“The award is a testament to the vision of Prime Minister Narendra Modi… empowering the last person in the line, that has shaped our journey towards inclusive and universal social protection,” Mandaviya said.According to the labour ministry, India’s social security coverage expanded sharply to 64.3 per cent in 2025, up from just 19 per cent in 2015. Mandaviya said the government is pursuing comprehensive reforms in policy, process, and technology to deepen social security.The ISSA award, first introduced in 2013, is presented once every three years. Brazil was the inaugural recipient, followed by China in 2016, Rwanda in 2019, and Iceland in 2022.India’s approach, the ministry noted, has moved from fragmented systems to an integrated, lifecycle-based safety net. Examples include PM POSHAN for child nutrition, Janani Suraksha Yojana for safe childbirth, PM-KISAN for farmers, and the National Old Age Pension Scheme for senior citizens.Mandaviya said India is leveraging digital innovation to widen opportunities for income generation and strengthen social protection through financial access, skilling, and self-employment.
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