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How Much Wealth You Need to Join the Richest 1% Globally

05 Mar 2021

How Much Wealth You Need to Join the Richest 1% Globally

 

According to Knight Frank, The Wealth Report 2021,  it takes $8 million in Monaco, but about half that amount in the U.S. and Switzerland. Singapore too has a high threshold, as the report shows.

 

You need to be worth almost $8 million to make the cut in the Mediterranean principality, where residents typically don’t pay income taxes, according to research on more than two-dozen locations by Knight Frank.

 

Switzerland and the U.S. have the next highest entry points, requiring fortunes of $5.1 million and $4.4 million, respectively, according to the property broker’s 2021 Wealth Report. In Singapore, $2.9 million will get you over the threshold.

 

“You can clearly see the influence of tax policy at the top,” said Liam Bailey, Knight Frank’s global head of research. “Then you have the sheer breadth and depth of the U.S. market.”

 

(Source: Bloomberg)