Source: https://www.pewresearch.org/short-reads/2024/03/06/a-booming-us-stock-market-doesnt-benefit-all-racial-and-ethnic-groups-equally/

The Pew Research Center article, "Booming US stock market doesn’t benefit all racial and ethnic groups equally," analyzes data from the Survey of Consumer Finances to show that the recent growth in the U.S. stock market disproportionately benefits White families. White families are more likely to own stocks and have larger stock holdings than families of other races, with Black and Hispanic families having significantly lower median and mean stock ownership values. Additionally, White families are more likely to have retirement accounts, and their accounts tend to be larger than those of other racial and ethnic groups. Although Asian American families have a higher median net worth than any other group, the article points out that the wealth gap between White and minority families is significant, with White families owning a larger share of their wealth in stocks and mutual funds. These disparities reflect a long-standing pattern of racial inequality in financial wealth and investment opportunities in the U.S.