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Fewer Public Companies: SEC Chair Cites Private Equity Grip
3 Dec, 2025
Summary
- Americans invested more in US stock market than ever before.
- Number of public stocks decreased by 40% since the 1990s.
- Businesses are staying private longer, benefiting venture capitalists.
The U.S. stock market is experiencing unprecedented levels of American investment this year. Despite this surge in investor participation, the landscape of publicly traded companies has dramatically shrunk.
Data indicates a substantial decline of approximately 40% in the number of publicly available stocks since their peak in the 1990s. This contraction is drawing attention from regulatory bodies.
SEC Chair Paul Atkins has voiced concerns, highlighting a trend where U.S. businesses are opting to stay private for extended periods. This shift is reportedly leading to venture capitalists securing a larger share of company returns, previously distributed among common equity holders.
