How much wealth does it take in which country to be among the richest?
According to data from the international real estate consultancy Knight Frank, to be among the richest 1 percent in Monaco it is necessary to have 12.4 million dollars, while in the US it is necessary to have a net worth of 5.1 million of dollars.
Those with $3.3 million in the UK, $1.6 million in the United Arab Emirates and $960,000 in China can join the richest 1% in the country.
Data from real estate consultancy Knight Frank’s ‘Wealth Sizing Model’ shows how much net worth it takes to be part of the richest 1 per cent in 25 countries.
MONACO IS AT THE TOP OF THE LIST
Monaco, which Knight Frank says has the most densely populated super-rich in the world, tops the list. According to a new study, you need a net worth of $12.4 million to be in the top 1 percent of Monaco.
Although Sweden is the second richest country, the amount of wealth required to be in this portion is considerably less than Monaka. According to the data, the amount of wealth required to be included in the top 1% of Sweden is $6.6 million.
In terms of the amount of wealth required for the 1 per cent bracket, Australia ranks third with $5.5 million, followed by New Zealand with $5.2 million and the United States with $5.1 million.
Ranking of countries by the amount of wealth needed to enter the richest 1%
THE RICHEST OF THE ASIAN COUNTRIES
To be in the richest 1% of Asian countries, you need the most wealth in Singapore. In Singapore, $3.5 million is required for the 1 percent tranche, while Hong Kong, which ranks second, requires $3.4 million.
While this amount is 1.7 in Japan, $960,000 is enough for the richest 1 percent in China.
MIDDLE EAST AND LATIN AMERICA
In the Middle Eastern countries, the United Arab Emirates tops the list. According to the data, you need to have $1.6 million to be in the top 1 percent of the country.
Brazil is at the top of Latin American countries, but to be in the richest 1% in Brazil requires $430,000, which is less than in other regions.
THE SECOND SMALLEST COUNTRY IS FULL OF MILLIONAIRES
Despite being the second smallest country in the world, Monaco has a dense population. The country, which is even smaller than Central Park, has become a residential area for the wealthy. The Mediterranean climate, glamorous events, low tax rates and no income taxes have helped make the country a hotbed for some of the world’s wealthiest people.
According to United Nations data, Monaco became the country with the highest gross domestic product per capita in the world in 2021.
Knight Frank previously predicted that by 2026 there will be 255 people with a net worth of more than $30 million in Monaco, while there will be close to 40,000 people with a net worth of more than $1 million.