Wealth Needed To Join the Top 1%, By Country

The last decade has witnessed a remarkable surge in the global number of millionaires.

By 2022, 1.1% of the world’s adults were millionaires, up from 0.6% in 2012. So, how to know if you belong to the top 1% in your country?

In this infographic, Visual Capitalist’s Omrio Wallach illustrates the net wealth required to enter the club in selected countries and territories. The data is sourced from the Knight Frank Wealth Report 2024.

The 1% Club

The individual net wealth required to join the top 1% can vary across countries.

European hubs top the list, with small countries like Monaco or Luxembourg having extremely high wealth barriers to joining the top 1%.

According to this year’s report, Monaco leads with $12.9 million required to join the 1% club. Currently, more than 30% of Monaco’s estimated 38,000 residents are millionaires.

Luxembourg follows at $10.8 million, with Switzerland at $8.5 million securing the third position.

The U.S. ranks fourth at $5.8 million. Despite having the most ultra-wealthy individuals, the country’s high population base brings the law of averages into play.

In the Asia Pacific region, Singapore leads the pack with a requirement of $5.2 million, while Hong Kong comes second at $3.1 million.

Interestingly, a person in Hong Kong needs almost three times more wealth to join the 1% club compared to someone in Mainland China.

How to Join the 1% Club?

To be part of the top 1% club of one’s country or region often requires a combination of advanced education, entrepreneurship, strategic investments, and even luck. While there’s no guaranteed path to entry, consistency and time are key factors.

In the U.S., for instance, many individuals and families who have surpassed the 1% threshold have done so over time.