In the two decades between 2000 and 2020, global assets have skyrocketed, surging from $440 trillion to a staggering $1,540 trillion, and net worth jumping from $160 trillion to $510 trillion. In 2022, there are 11% of adults are millionaires, up from just 06%。
However, as the total amount of wealth continues to rise, wealth is increasingly concentrated in a small number of people. The top rich, who account for only 1%, hold nearly 48% of the world's wealth.
So, how high is the 1% threshold? There is no one-size-fits-all answer to this question. Because of the huge differences in economic development levels, living costs and other factors between different countries and regions, the threshold for entering this "wealth club" is also different.
Globally, an individual with a net worth of more than $1 million is considered to be in the 1%. However, when we look at specific countries and regions, we see that this standard is significantly different.
Monaco continues to lead the world in this statistic.
In Monaco, the threshold for joining the top 1% is $12.8 million, an increase of almost $5 million compared to 2022.
Monaco is one of the smallest and richest countries in the world, smaller than New York's ** park, and of the nearly 40,000 residents living here, fewer than 10,000 are Monegasque natives. Residents enjoy a very high standard of living, but at the same time bear a very high cost of living, according to Camal, a professor of economics at the International University of Monaco, "if you go by the French poverty standard of 1,000 euros per month, no Monegasque citizen is below the poverty line". ”
There are also "migrant workers" who work in Monaco but live in France and Italy, where they can't afford to rent or buy a house.
The ticket to become the 1% Club of the United States is $5.8 million, and it is also home to the highest concentration of ultra-high-net-worth individuals.
But the United States' other label, the developed country with the largest gap between rich and poor, remains.
In 1962, the net worth of the richest 1% of the U.S. population was about 125 times that of the average U.S. household, and by 2009, it was 225 times.
The median net worth of the bottom 25 percent of households is just $310, and the bottom 50 percent own less than 2 percent of the total wealth of the United States.
Singapore remains the country with the highest threshold in Asia, where it needs US$5.2 million to become the top 1%.
Global statistics show that high-income men live an average of 15 years longer than low-income men, but no matter whether the wallet is bulging or flat, we must maintain a happy heart and have a healthy body, which is everyone's greatest capital.