Estimates From 2023 or 2024 Put U.S. First in Stock-Market Participation

A 32-country estimate placed the United States first in stock-market participation using national data from 2023 or 2024, while separate figures show U.S. equity wealth was concentrated among the wealthiest households.

Published in 2025, the comparison put the U.S. rate at 55%, followed by Canada at 49%, Australia at 37%, the United Kingdom at 33% and New Zealand at 31%. Each country contributed its latest available figure, so the estimates do not share one observation date.

The measure counted direct holdings of shares or exchange-traded fund units, along with exposure through pension funds, unit-linked life insurance, equity savings plans and structured products. Estimated investor headcounts were 185.35 million in the United States, 98.7 million in China and 85.8 million in India. Unlike participation rates, those totals do not adjust for population size.

The rates are estimates, not precise counts. Their stated margin of error is 5% to 10%, data collection methods vary by country, and the population denominator is not fully specified. The participation rate is intended to account for population size, but the limited denominator detail makes exact comparisons difficult.

Separate U.S. household figures for Q2 2026 show that the top 1% of wealth holders held 50.9% of the value of corporate equities and mutual fund shares. The bottom 50% held 0.6%.

Those wealth shares measure asset value, not the portion of people with stock-market exposure. They also use a different definition from the international comparison, which includes indirect holdings through financial products. Together, the figures describe two distinct parts of ownership: how widespread stock exposure is and how the value of holdings is divided among wealth groups.