Top wealthy individuals now hold 11% of the world's wealth (2024)

FAQs

What is the percentage of wealthy people in the world? ›

The level of financial inequality around the world is staggering. According to a new Credit Suisse report, 47.8 percent of global household wealth is in the hands of just 1.2 percent of the world's population. Those 62.5 million individuals control a staggering $221.7 trillion, as can be seen on this infographic.

Federal Reserve data indicates that as of Q4 2021, the top 1% of households in the United States held 32.3% of the country's wealth, while the bottom 50% held 2.6%. In recent decades, wealth inequality has substantially increased in the United States.

Distribution of family wealth over time by wealth group

Indeed, in 1989 the families in the top 10% held 63% of wealth. That ballooned: In 2019, they held 72% of wealth. Broken down even more, the top 1% now holds about a third of all wealth — up from a little less than a quarter in 1989.

People with the top 1% of net worth (opens in new tab) in the U.S. in 2022 had $10,815,000 in net worth. The top 2% had a net worth of $2,472,000. The top 5% had $1,030,000. The top 10% had $854,900.

The top ten percent of households own 76% of all wealth in the U.S., while the bottom 50% of households own just 1% of all wealth.

Their findings show that wealth is very concentrated: The top 1% holds nearly as much wealth as the bottom 90% and the “P90-99” class. However, inequality has grown less dramatically than other widely-cited estimates suggest and wealth is less concentrated among the very rich (the 0.1%) than many believe.

They found that the top 20% of all Americans earn over $100,000 in income. While that's interesting in and of itself, what even more important is that the top 20% are also receiving over 50% of all the income earned in the country.

In the USA, a family must earn an income of $597,815 to be in the top 1% of earners, according to a study by Smart Asset. But the income and rankings vary per state. In Connecticut, a family needs almost $900,000 to be in the top 1%, while in West Virginia a family needs $350,000.

To make it to the wealthiest 10% in the world, you need to have an individual net wealth of US$138,346. For the 1%, the bar is US$1.147 million. Net wealth is calculated by subtracting debt from the total value of assets owned by a person, Stuff reported.

What family owns the most wealth? ›

The United States is the richest country in the world with the highest GDP, as of 2021. China is the second richest country in the world with a $17.734 trillion GDP. Monaco is the richest country in the world when measured by GDP per capita.

The nearly 22 million millionaires in the U.S. account for 8.8% of the country's adult population and over 39% of millionaires worldwide.

Net Worth at Age 40

By age 40, your goal is to have a net worth of two times your annual salary. So, if your salary edges up to $80,000 in your 30s, then by age 40 you should strive for a net worth of $160,000. Additionally, it's not just contributing to retirement that helps you build your net worth.

The average net worth by age for Americans is $76,300 for those under age 35, $436,200 for those ages 35 to 44, $833,200 for those ages 45 to 54, $1,175,900 for those ages 55 to 64, $1,133,700 for those ages 65 to 74 and $977,600 for those age 75 and above.

The threshold to be in the top 10% of household incomes in 2022 in the United States was $212,110.

This means that the other 99% of earners in the U.S. make less than this amount per year. When it comes to net worth, the top 1% of Americans have a minimum net worth of around $11.1 million.

The 0.01 percent, by the numbers

The United States has 325 million people—in 160 million households, as viewed by the Internal Revenue Service. That means 1.6 million households fall into the 1 percent category.

What percentile is $10 million net worth? ›

$10 Million Is A Top One Percent Net Worth

If you have a 10 million dollar net worth or higher, you have a top one percent net worth in America.

The median American worker brings home an estimated $54,132 a year. Salary figures vary significantly depending on location, education and other factors. Income is a vital part of your overall financial health, alongside net worth and savings.

Across the US, the average income for the top 2% of all earners is $206,000.

A trillionaire is an individual with a net worth equal to at least one trillion in U.S. dollars or a similarly valued currency, such as the euro or the British pound. Currently, no one has yet claimed trillionaire status, although some of the world's richest individuals may only be a few years away from this milestone.

This isn't the first time Arnault has topped the list. The CEO has been ranked among the world's top 10 richest people for several years now. In 2021, he overtook Amazon.com 's ( AMZN ) Jeff Bezos as richest man more than once. Estimating a person's net worth is far from a precise science.

As of 2021, Nigerian billionaire Aliko Dangote is the richest person in Africa, and the African countries with the most billionaires are Egypt (5), South Africa (5), Nigeria (3), and Morocco (2).

Rockefeller atop the list of the richest Americans in history, followed by Cornelius Vanderbilt and John Jacob Astor. Bill Gates was the top living person, coming in fifth.

What is the entire USA worth? ›

United States - Federal Government; Net Worth (IMA), Level was -20997153.00000 Mil. of $ in July of 2022, according to the United States Federal Reserve.

The USA is the only country with a large surface area and population among the highest-ranking nations, ranking eleventh. The richest country in the world is Luxembourg.

The above chart shows that U.S. residents 35 and under have an average of $30,170 in retirement savings; those 35 to 44 have an average $131,950; those 45 to 54 have an average $254,720; those 55 to 64 have an average $408,420; those 65 to 74 have an average $426,070; and those over 70 have an average $357,920.

That would leave you with a $300,000 net worth. Personal Capital surveyed consumers to see how their net worth breaks down by age, and it found that among 40-somethings, the average net worth was $756,000.

The poorest half of the global population owns just 2% of the global total, while the richest 10% own 76% of all wealth.

half of the world's net wealth belongs to the top 1%, top 10% of adults hold 85%, while the bottom 90% hold the remaining 15% of the world's total wealth, top 30% of adults hold 97% of the total wealth.

Why the poor stay poor and the rich stay rich? ›

In a simple explanation: The Rich operates in Abundance mode, while the Poor operates in scarcity mode. Abundance – You give more because you are already in a better position, which in return attracts more returns. And the Rich habit effect is passed on.

The United States is the richest country in the world with the highest GDP, as of 2021. China is the second richest country in the world with a $17.734 trillion GDP. Monaco is the richest country in the world when measured by GDP per capita.

In 2021 the poverty rate in the United States was highest among people under the age of 18, with a rate of 16.87 percent for male Americans and a rate of 17 percent for female Americans. The lowest poverty rate for both men and women was for those aged between 65 and 74.

The Pew Research Center defines the middle class as households that earn between two-thirds and double the median U.S. household income, which was $65,000 in 2021, according to the U.S. Census Bureau. 21 Using Pew's yardstick, middle income is made up of people who make between $43,350 and $130,000.

For an individual in the U.S., the poverty line is $12,880 a year, or about $35.28 per day. These numbers are calculated based on income and a person's ability to meet basic needs.

It's not surprising that those with more wealth tend to live longer than those with less. If you have more money, you probably have access to better health care as well as more nutritious foods. You also have less stress from worrying about money, and stress is a factor in mortality, as well.

“Retire at 45 with $500,000” and the 4% Rule

To figure out how big a nest egg you'll need, you have to match that 4% to your anticipated expenses. If you plan to live on $30,000 each year, for example, you'll need $750K socked away. If your expenses will be $40,000, you'll need $1 million—and so forth.

You'll likely need assets worth 10 to 16 times your salary by the time you leave your job. A 45-year-old making $120,000 who hopes to retire at age 60, say, should already have nearly $700,000 set aside. (See the Retire Early calculator.) You can get by with less if you'll have other sources of income.

Landing in the top 10% is a fairly attainable goal for upwardly mobile Americans. A study by the Economic Policy Institute (EPI), found that the average earnings of those in the top 10% were roughly $173,000 in 2020.

What is considered top 20%? ›

In fact, the minimum threshold to be among the top 20% of earners nationwide ($130,545) is more than two times greater than the median household income and nearly five times greater than the maximum threshold to be among the bottom 20% of earners nationwide ($26,685).