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%.