You might picture someone in the top 1% of global wealth as a champagne-sipping millionaire, flying exclusively by private jet and sailing only by megayacht.
But the reality is that location and factors beyond income play a big role in who makes it – and who doesn’t.
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For instance, UBS data shows that around 1.6% of the population (across the countries studied) holds more than $1m in net worth, implying that the threshold for the top 1% sits just above that level.
However, the entry level to the top 1% differs regionally, according to Knight Frank’s Wealth Sizing Model, in Monaco, the playground for many a multi-millionaire, the entry point is $12m+.
Data from the World Inequality Lab shows that those in the top 1% sit well beyond the entry point.
In countries such as Sweden and Japan, average wealth within the group runs into the millions of euros – underscoring how much distance there is even within the
1% itself.
Over the past two decades, much of the growth in personal wealth has been driven by rising asset prices rather than income alone.
Equity markets, in particular, have delivered sustained returns, while residential property in major cities has seen sharp appreciation. In many cases, these gains have outpaced wage growth, widening the gap between those exposed to assets and those who are not.
That raises the question: what does being in the 1% actually look like in reality?
How rich are the 1%?
Making it into the top range doesn’t automatically mean you are super-rich.
In global terms, just over $1m in net worth can place you within the top 1%, based on UBS data – far below what many would expect.
The threshold itself varies widely – driven by location and access.
In Japan, for example, average wealth within the top 1% sits at over €4 million, according to the World Inequality Lab – highlighting how far above the entry point most of the 1% actually sit.
Knight Frank defines an Ultra-High-Net-Worth Individual as having a net worth of $30m+, well above the level required to enter the 1%.
Meanwhile, ‘Everyday Millionaires’, as labelled by UBS, sit in the $1m–$5m bracket and number around 52 million people globally.
There is a meaningful difference between being in the top 1% and being at the top of it.
Mythbusting the millionaire misnomers
A common misconception is that your salary takes you into this elite club, but the 1% is, by most models, defined by your net worth.
Whilst high income can get you knocking on the door, your assets get you in.
Let’s take Sweden for example, the UBS report found over 80% of gross personal wealth consists of financial assets.
Although the balance differs by country, wealth is consistently built on both financial and non-financial assets. Even in markets at the lower end of the scale, such as India, non-financial assets still make up around 20% of total wealth.
Of course, the two often work in tandem – higher income, bonuses and business earnings = more capital to accumulate wealth.
In turn, these assets compound over time, ultimately growing the net worth of the individual.
Everyday Millionaires or ‘EMILLIs’ – described by UBS as individuals owning $1-5m of assets, have quadrupled since 2000 to 2024 to around 52 million.
The increase in real estate values has driven the acceleration in wealth of these EMILLIs across the world.
Whether it’s financial or real assets – investing to accumulate is proving the way to reach the top tier – and keep moving.
How do you reach the top 1% of wealth?
If you’re already in a position to invest, you’re on the right track to breaking through that ceiling.
The key is investments in assets.
The most recent Knight Frank Wealth Report shows, despite a tumultuous global economy, which included a worldwide pandemic, a $1m luxury residential property investment in January 2020 would have grown to $1.9m in Miami and $2.7m in Dubai by 2025.
Ownership of real assets, particularly housing – whether for investment or personal use – is the most common route to wealth.
Owning the right assets, at the right time, does a lot of the heavy lifting.
Timing and time in the markets is crucial. Growth in wealth often comes over longer periods as returns compound. But it’s also crucial to have a diverse portfolio prepared for geopolitical volatility.
Those already in the market that entered at the opportune time are often the best rewarded.
Timing and crucially, access, is key to growing wealth and moving towards the upper bracket.
Finally, one surefire way to join the club is one which requires no strategic planning and is something you don’t have much control over – the transfer of wealth.
UBS forecast a total global wealth transfer of over $83 trillion within the next 20-25 years, with 12% of that roughly being inter-generational.
How location affects entry into the top 1%
The nuance here is that it is all relative; what gets you into the top band in one country, doesn’t necessarily do the same elsewhere.
In emerging markets like Brazil, entry to the 1% can sit well below $1m.
Access to markets can influence this disparity with financial assets dominating in some regions, with property driving wealth growth in others.
The 1% club is local – entry in Monaco greatly differs from Brazil. This is the key consideration when declaring yourself a top one percenter – location is everything.
Putting it into context
Entry into the top 1% is determined by where you are, and breaking into the upper echelons of this exclusive club is determined by how much you have.
Asset ownership is the proven way to accumulate enough wealth to feature at the top, and evidence points to that continuing for the foreseeable future.
As larger amounts of generational wealth transfers in the coming years, there will be even more entrants joining passively.
Similar levels of income can lead to different outcomes – exposure and access to the right assets at the right time will decide who joins the top percentile, as it has done in years before.
It’s less of a fixed benchmark and more of a reflection of how wealth is built and held.
The top 1% is now secured through ownership.
