How Much Money Do You Need To Enter Top 1%?
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30 April 2024
The entry barriers to the 1% rich club have been getting tougher across the world, according to consultancy firm Knight Frank
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Here's how much you need to join the ranks of the wealthiest people in your country
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Monaco, with world's densest population of millionaires, retains the number one spot for entry into the 1% rich club at $12.9 million
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At number 2 is Luxembourg, which has an entry requirement of $10.8 million, followed by Switzerland at $8.5 million
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The US comes in fourth, with $5.8 million, which is up 15% from a year earlier
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At $5.2 million, Singapore is fifth globally and leads the Asia-Pacific region in terms of the wealth needed to break into the elite club
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For India, a recent Knight Frank report said people who possessed $175,000 or more were in the top 1% of the wealthiest residents
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With a population of around 1.4 billion people, India's 1% is still 14 million people strong
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According to Knight Frank, the global average entry point to break into the top 1% rich people is $30 million
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However, the obscenely rich people on the globe are 0.1% or 0.01%, counting just 8 million people and 800,000 people
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