How Much It Takes to Be in the Richest 1% Around the World

Rich man in a car
sirtravelalot / Shutterstock.com

What does it take to be among those earning the top 1% of income? Bloomberg looked at data from Statistics Canada and the World Inequality Database to find out how much you must earn in 14 countries.

Bloomberg learned that “inequality is widening even among the ranks of the top 1%.” In the U.S., for instance, it takes $500,000 a year to be in the top 1%, more than $2 million for the top 0.1% and more than $10 million in income annually to be in the elite 0.01%.

The bottom line: The ease or difficulty of belonging to the wealthy castes depends a lot on where you live. In some countries, well-paid professionals inch their way in with pretax incomes of “only” $200,000 to $300,000 a year. Elsewhere, though, you must be a billionaire “with more wealth than many nations,” Bloomberg says.

Read on to learn where what it takes in these 14 nations, including one place where you need nearly $1 million a year to in the 1%.

Read Next
7 Things You Should Do Before Claiming Social Security
7 Things You Should Do Before Claiming Social Security

To get the most out of your Social Security retirement benefits, you have to think ahead.

10 Products That Will Help You Save Money
10 Products That Will Help You Save Money

Sometimes, spending a little cash right now can save you a lot of money down the road.

Seniors Rate These 5 Medicare Advantage Plans Highest
Seniors Rate These 5 Medicare Advantage Plans Highest

The same Medicare Advantage health insurance plan has ranked No. 1 for five years in a row.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Comments

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.

Trending Stories