this post was submitted on 04 Oct 2024
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About two thirds of Americans have retirement money in the stock market. “Institutional investors” include retirement funds and mutual funds.
Source: https://crsreports.congress.gov/product/pdf/R/R47699
Here’s a good breakdown of wealth inequality in the US
That doesn't really answer the question of whether the 89% figure is misleading due to regular investors having stake in institutional investors though, as suggested by the comment above mine. This would require information on the proportion of those funds owned by wealthy people vs non wealthy. That said you're clearly giving better info than the OP video so kudos for that
The second link I posted shows that.
Edit: this goes into a lot of depth on income, assets, and debts by quartile: https://usafacts.org/articles/how-this-chart-explains-americans-wealth-across-income-levels/