New research conducted by real estate consultancy Knight Frank has shed light on the wealth thresholds required to enter the top 1% in 25 different countries. Topping the list is the tiny European principality of Monaco, where a staggering $12.4 million net worth is needed to join the ranks of the super-rich.
The study, based on Knight Frank’s Wealth Sizing Model, unveils the monetary benchmarks necessary to be considered part of the elite 1% in various nations. With Monaco boasting the world’s highest concentration of affluent individuals, it comes as no surprise that this opulent haven takes the lead.
In second place is Switzerland, though there is a significant drop in wealth requirement compared to Monaco. To secure a spot in Switzerland’s top percentile, one must possess $6.6 million.
Australia follows closely in third place, with a threshold of $5.5 million, while New Zealand and the United States require $5.2 million and $5.1 million, respectively. In the United Kingdom, a net worth of $3.3 million is needed to make the cut.
Among Asian nations, Singapore ranks highest, with a wealth requirement of $3.5 million, closely followed by Hong Kong at $3.4 million. Japan sets the bar at $1.7 million, while mainland China falls behind at $960,000.
In the Middle East, the United Arab Emirates emerges as the leader, where a minimum net worth of $1.6 million is necessary to enter the top 1%.
Latin America’s highest threshold belongs to Brazil, with citizens needing a relatively modest $430,000 to secure their position among the country’s wealthiest 1%.
Monaco’s allure as a haven for millionaires stems not only from its status as the world’s second-smallest independent state, smaller even than New York’s Central Park, but also from its Mediterranean climate, glamorous events, and attractive tax policies, including the absence of income tax. As of December, Monaco’s population stood at approximately 39,000, making it densely populated for its compact 0.78 square miles. UN data from 2021 revealed that Monaco boasted the world’s highest per capita gross domestic product, reaching $234,317, surpassing the figures of Liechtenstein ($169,260), Luxembourg ($133,745), and Bermuda ($112,652).
Knight Frank has previously projected that by 2026, Monaco will house over 255 individuals worth more than $30 million and nearly 40,000 millionaires.
