How much cash to be in the world’s wealthiest 1 per cent? US$4.4 million in the US – which boasts the most ‘ultra-high net worth individuals’ like Jeff Bezos and Bill Gates
- Real estate consultancy Knight Frank has released its annual wealth report, which breaks down the numbers of the world’s richest 1 per cent
- Singapore is Asia’s highest entry at No 4 followed by Hong Kong, while China’s threshold is predicted to increase by 70 per cent compared to 2020
Curious to know what the cut-off is to be in the fabled world’s wealthiest 1 per cent? The new annual wealth report from Knight Frank breaks the numbers down for the US and other countries across the globe.
An individual in the US needs a net worth of US$4.4 million to be among the richest 1 per cent in the world, according to the report. That’s the third-highest wealth threshold compared to the rest of the world.
Monaco – where the densest population of the super-rich live according to Knight Frank – has the highest mark to hit for the 1 per cent: US$7.9 million. Switzerland has the second-highest wealth threshold, with a person needing US$5.1 million to join the richest 1 per cent.
Others listed in the report include Singapore at No4 with US$2.9 million, positioning it as Asia’s highest entry ahead of Hong Kong, which requires a net wealth of US$2.8 million. The highest entry to the richest 1 per cent for Latin America is Argentina at US$360,000. Meanwhile, South Africa has the highest wealth threshold out of any other country in Africa at US$180,000.
Countries with the lowest wealth thresholds to crack into the 1 per cent include Indonesia, where a person needs US$60,000, and Kenya, where a net wealth of US$20,000 is needed for that status.