The threshold to enter the top 1% of wealth in the U.S. has increased to a net worth of $5.8 million, up 12% from the previous year.
Monaco has the highest requirement at $12.9 million, followed by Luxembourg and Switzerland.
“Our findings confirm the substantial differences in wealth distribution between countries,” real estate company Knight Frank said.
“Expect greater policy focus on where wealth is located, how it is distributed across economies and how governments can both tax it and encourage its growth.”
The U.S. ranks fourth globally in assets needed for the top 1%.
The report highlighted disparities in wealth distribution among countries and calls for policy focus on wealth location and distribution.
Despite high inflation and rising interest rates affecting lower- and middle-income Americans, the wealthiest individuals have seen significant gains, with the top 400 Americans gaining $500 billion in 2023.
