How Rich Do You Need to Be to Join the Top 1% in These 16 Countries?
Knight Frank’s The Wealth Report reveals that the individual net wealth required to be part of “the 1% club” in several countries is lower than you might expect, mainly regarding financial classification – the high-net-worth-individual (HNWI). This metric is split into three different levels, the middle of which is the very-high-net-worth individual (VHNWI), followed by the highest, the ultra-high-net-worth individual (UHNWI).
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The minimum total assets threshold for each is $1 million, $5 million and $30 million, respectively. The interesting finding is the notable distinction between being part of the 1% and being a UHNWI.
In any of these countries, you would only need to be an HWNI or a VHNWI to be in the 1% – a dynamic that indicates the asymmetric global wealth distribution. Based on Knight Frank Research’s Q4 2023 data, here is a list of some of the wealthiest countries and the value your net worth (converted to USD) would need to meet to be considered part of the 1% (from greatest to least amount).
Monaco
Threshold for the 1% club: $12,883,000 (VHNWI)
Total population (2023): 36,297
Monaco’s relatively small population indulges in the sight of the ocean at Larvotto Beach and the exhilaration of the Monaco Grand Prix.
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Luxembourg
Threshold for the 1% club: 10,832,000 (VHNWI)
Total population (2023): 654,768
Luxembourg has a timeless appeal with its wondrous medieval structures and vast wooded areas.
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Switzerland
Threshold for the 1% club: $8,509,000 (VHNWI)
Total population (2023): 8,796,669
The Swiss have access to the Winter wonderland-like appeal of the Jungfraujoch. Europe’s largest waterfall, the Rhine Falls, is a truly stunning vista.
United States
Threshold for the 1% club: $5,813,000 (VHNWI)
Total population (2023): 339,996,563
American citizens have found limitless ways of building successful careers from one beautiful coast to the other.
Singapore
Threshold for the 1% club: $5,227,000 (VHNWI)
Total population (2023): 6,014,723
From Kampong Gelam to Marina Bay, Singapore’s mainland and 60+ surrounding islands have rich culture, style and biodiversity.
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Sweden
Threshold for the 1% club: $4,761,000 (HNWI)
Total population (2023): 10,612,086
Sweden has recently placed some effort into ensuring the global population can distinguish its draws from that of Switzerland, the former of which boasts lovely sandbanks, rooftop dining and a view of the Northern Lights.
Australia
Threshold for the 1% club: $4,673,000 (HNWI)
Total population (2023): 26,439,111
Australia has a great deal of wildlife along with diverse terrain, from the Great Barrier Reef to the Outback.
New Zealand
Threshold for the 1% club: $4,574,000 (HNWI)
Total population (2023): 5,228,100
Also known as the Home of Middle-Earth due to it being the filming location of The Lord of the Rings franchise, New Zealand is home to Maori culture and plenty of outdoor activities.
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Ireland
Threshold for the 1% club: $4,321,000 (HNWI)
Total population (2023): 5,056,935
Ireland offers an assortment of woodland trails and coastal hubs for families to enjoy. Whether you prefer hiking or oyster shucking, there are great things to do that are environmentally friendly.
Germany
Threshold for the 1% club: $3,430,000 (HNWI)
Total population (2023): 83,294,633
Immerse yourself in volcanoes, feel the thrills of wild river rafting or view impressive 17th and 18th century Baroque architecture in Germany.
France
Threshold for the 1% club: $3,273,000 (HNWI)
Total population (2023): 64,756,584
In addition to the worldly allure of Paris, France is also home to the world-famous wine of Bordeaux and the magnificent French Alps.
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Hong Kong SAR
Threshold for the 1% club: $3,094,000 (HNWI)
Total population (2023): 7,491,609
Hong Kong is a sprawling metropolis with exciting nightlife and several islands worth visiting for tourists and residents alike.
United Kingdom
Threshold for the 1% club: $3,070,000 (HNWI)
Total population (2023): 67,736,802
With England, Scotland, Wales and Northern Ireland, the United Kingdom has a distinct vastness you can’t find anywhere else.
Italy
Threshold for the 1% club: $2,548,000 (HNWI)
Total population (2023): 58,870,762
Whether it’s a gondola ride through the canals of Venice or a visit to Tuscany to see Botticelli’s work, Italy has many cultural treasures to enjoy.
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Spain
Threshold for the 1% club: $2,468,000 (HNWI)
Total population (2023): 47,519,628
Spain is a beautiful country with alluring castles, beaches and wineries.
Japan
Threshold for the 1% club: $1,971,000 (HNWI)
Total population (2023): 123,294,513
A leader in the technology world, Japan is also home to funky fashion, never-ending sushi and a world-renowned bullet train.
Mainland China
Threshold for the 1% club: $1,074,000 (HNWI)
Total population (2023): 1,425,671,352
Mainland China features the World Finance and Science Center of Shanghai. You’ll also find the Forbidden City and the Great Wall. Don’t miss the terracotta warriors.
This article originally appeared on GOBankingRates.com: How Rich Do You Need to Be to Join the Top 1% in These 16 Countries?