Top 1% – Here’s How Much Wealth You Need to Join the Wealthiest
The annual Knight Frank Wealth Report for 2021 is here
Being among the richest top 1% globally is a privilege. Interestingly, this privilege varies by the country you live in. The annual Knight Frank Wealth Report, 2021 Edition has unveiled the breakdown of what it takes to be a top 1% earner worldwide.
The top spot in the report is grabbed by Monaco that has the densest population of super-rich people in the world. Any person who lives in Monaco and has a wealth of more than AUD 10.26 (About USD 7.9) million is among the richest top 1%.
The second place goes to Switzerland, where a person who has a wealth of AUD 6.62 (About USD 5.1) million will join the top 1%. Third on the list is the United States of America, where a person needs to have just AUD 5.71 (About USD 4.4) million to be in the top 1%.
For Latin America, Argentina is the highest entry as one needs AUD 467,481 (About USD 360,000) to be among the richest. Africa’s highest entry is South Africa, where a person needs AUD 233,740 (About USD 180,000) to make the top 1% list. Kenya and Indonesia have thresholds that are less than 1% of the level at Monaco. They are at AUD 25,971 (About USD 20,000) and AUD 77,913 (USD 60,000) respectively.
Asia’s highest entry is Singapore, where a person needs to have AUD3.77 (about USD 2.9) million to be in the top 1%. It was followed by Hong Kong, where a person needs AUD 3.64 (About USD 2.8) million to be on the list. New Zealanders also need AUD 3.64 (About USD 2.8) million to be on the list. It is AUD 103,884 About USD 80,000) more than the amount needed to be in the top 1% in Australia.
India’s level is also at AUD 77,913 (USD 60,000), and as per predictions, the threshold will double over the next five years. Also, The Chinese Mainland might see the threshold rising by 70%. It was at AUD 110,3776 (About USD 850,000) in 2020.
The Top 1% Stats
All the people who have made it to the top 1% list are an inspiration for billions. They are the key target customers for innovations like the latest Supersonic jet and the Space Hotel. Prestige to them!
Share this on social media