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Here’s How Much Wealth You Need to Join the Richest 1% Globally

It takes $8 million in Monaco, but about half that amount in the U.S. and Switzerland. Singapore too has a high threshold, a new report shows.

Video player cover image — Richest 1% in U.S. Hide 20% of Income From the IRS

By

Benjamin Stupples and

February 24, 2021, 12:00 AM UTCUpdated onFebruary 24, 2021, 1:07 PM UTC

Joining the ranks of the richest 1% is never easy, but it’s especially hard in Monaco.

You need to be worth almost $8 million to make the cut in the Mediterranean principality, where residents typically don’t pay income taxes, according to research on more than two-dozen locations by Knight Frank.