Who Are the Top 1% in the World?

Who are the top 1% in the world?

Since Occupy Wall Street popularized the term “top 1%,” this exclusive group has only become richer and more influential. It covers a broad span, from professionals to billionaires with more wealth than many nations. But cutting varies greatly, from state to state and from region to region.

Earnings to Enter the 1% by Income

The earnings required to fall into the top 1% vary from state to state but generally amount to several hundred thousand dollars per year of household income. In some states, such as Alabama, it takes $430,000 a year to reach the 1%, while in Connecticut it’s closer to $900,000.

Net Worth to Be in the Top 1% by Net Worth

The net worth of a household must be at least $1 million to qualify for membership in the top 1%. This number is calculated by subtracting debt from total assets, including a primary home.

Assets can include investments and real estate to bank accounts, savings, and insurance policies. The top 1% also owns many private equity and stock-based investments and some of the largest global corporations wealthyfools.

Escalating Inequality and the Global One percent

According to a new report by Credit Suisse, the global wealth of the top 1% has increased rapidly over the past decade. Now, this elite fraction owns more than half of the world’s personal wealth, and the gap between them and the rest of the population has widened to its highest level in 25 years. Oxfam has called for fairer taxation in response to soaring inequality.