Signal Top 0.001% hold triple the wealth of the bottom half; seven firms are a third of the S&P 500

Summary

EY offers two measures of how concentrated the economy has become. The richest 0.001% of people own three times as much wealth as the poorest half of humanity. In financial markets, the so-called Magnificent 7, the largest AI-oriented technology firms, account for 33% of the market capitalisation of the S&P 500. EY argues that AI is accelerating these winner-take-most dynamics even as other parts of the economy trade efficiency for resilience. It presents this concentration as evidence that incentives built for a stable world now expose weaknesses in resilience and long-term value creation.