11.06.2021

HOW MUCH MONEY DO YOU NEED TO BE IN THE CLUB OF THE RICHEST?

How much money does it take for a person to fall into the top 1% of the world's wealth? This question is asked every year, and the definition of the exact amount remains an unsolved problem. This is because each country has its own threshold for being among the wealthiest. For example, to be a person in the top 1% of wealth in the United States requires 4.4 million dollars, while in Romania will be enough only 300,000 dollars, according to a report by consulting company Knight Frank.

It takes at least $ 30 million to run a super-rich man, an amount that is too high even for the people of Monaco, even though the kingdom has the most rich people per capita in the world. It turns out that $ 7.9 million is enough to be among the top 1% in Monaco, according to the report. Monaco is the country with the highest threshold to enter the elite club. In second place is Switzerland, where at least $ 5.1 million is needed. The United States ranks only third with $ 4.4 million, although it is home to the most super-rich people in the world.

The top ten is complemented by Singapore ($ 2.9 million), New Zealand, Hong Kong, Australia ($ 2.8 million each), Ireland ($ 2.6 million), France ($ 2.1 million) and Germany ($ 2 million).

In the UK, at least $ 1.8 million will be needed to join the club of the rich, while in Japan it will be at least $ 1.5 million.

A fortune of $ 1.4 million is needed to enter the top 1% in Spain and Italy.

In China, people with a personal fortune of at least $ 850,000 account for part of the top 1%. In Russia, this threshold drops to $ 400,000.

All Romanians with a net worth of more than $ 300,000 are part of the country's top 1% of wealth, the report said. This is the 22nd highest threshold of all jurisdictions surveyed by the consulting firm.

There are no data for Bulgaria, but if we take as a starting point the statistics for Romania and the data for GDP per capita, we can assume that the amount to fall into the top 1% of wealth in our country is in the range of 200,000 - 300,000 dollars. However, this is only a guess, as the survey does not provide information about Bulgaria, and the statistics are mainly influenced by the number of millionaires in each country.

Among the countries with the lowest threshold for joining the elite club are Brazil ($ 280,000), South Africa ($ 180,000), Vietnam ($ 160,000), Nigeria ($ 70,000), India ($ 60,000), the Philippines ($ 60,000), Indonesia ($ 60,000) and Kenya ($ 20,000).