Who controls all the wealth?
The top 1% of American earners now control more wealth than the nation's entire middle class, federal data show. More than one-quarter of all household wealth, 26.5%, belongs to Americans who earn enough money to rank in the top percentile by income, according to Federal Reserve statistics through mid-2023.
The richest 1% own almost half of the world's wealth, while the poorest half of the world own just 0.75%
Worldwide net private wealth stood at $454.4 trillion in 2022. The highest wealth rung controls $208.3 trillion in wealth, or 45.8% of the global total. Just 1.1% of the world adult population fall in this bracket. Those with $100,000 to $1 million have the next greatest share, at 39.4% of net household wealth.
According to a Congressional Budget Office report, you need at least $652,657 in income per year to make the top 1%, but this varies by where you live. While making six figures is not within the reach for many people, a financial advisor can help you build a financial plan for the future.
- Monaco - $12.9 million.
- Luxembourg - $10.8 million.
- Switzerland - $8.5 million.
- United States — $5.8 million.
- Singapore – $5.2 million.
- Sweden — $4.8 million.
- Australia — $4.7 million.
- New Zealand — $4.6 million.
The pyramid shows that: 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.
Key Takeaways. In 2023, the top 1% of household net worth in the U.S. started at $13.7 billion. An individual would need to earn an average of $407,500 per year in order to join the top 1%, and a household would need an income of $591,550. The median household income was $74,580 in 2023 and $45,440 for individuals.
The Walton family with $259.7 billion. The Hermès family with $150.9 billion. The Mars family with $141.9 billion. The Al Thani family with $133 billion.
| Name & Rank | Net Worth (in $ Billions) | Source of Wealth |
|---|---|---|
| #1 Bernard Arnault & family | $235.6 | LVMH |
| #2 Jeff Bezos | $192.8 | Amazon |
| #3 Elon Musk | $188.5 | Tesla, SpaceX |
| #4 Mark Zuckerberg | $169.8 |
Is 80k a good salary in USA?
An $80,000 annual salary might sound like a decent pile of money — and in fact it's about $10K higher than the national median household income of $70,784. However, a recent Bankrate study found that financial distress can strike even those making $80,000 per year.
The 95th percentile, with a net worth of $3.2 million, is considered wealthy, facilitating estate planning and possibly owning multiple homes. The top 1%, or the 99th percentile, has a net worth of $16.7 million and represents the very wealthy, who enjoy considerable financial freedom and luxury.
According to the U.S. Bureau of Labor, the average U.S. annual salary in Q4 of 2023 was $59,384. This is up 5.4% from the same time period in 2022, when the average American was making $56,316 per year. Average weekly earnings reached $1,142, while the average American made $4,949 per month in Q4 of 2023.
No individual has claimed the status of trillionaire just yet. But a net worth equal to at least one trillion in U.S. dollars or a similarly valued currency isn't unattainable, but it will be a couple of years yet. Only 18 countries have a GDP that exceeds that amount.
The wealthiest, and youngest, among the list is Clemente Del Vecchio, one of the six children of Leonardo Del Vecchio, the chairman of EssilorLuxottica who died in 2022.
How much do you need to earn to be in the top 1% income bracket? To be in the top 1% of earners, you're looking at an average annual income of $819,324. The top 0.1% of Americans earn an average of $3,312,693.
As of 2015, Christians hold the largest share of global wealth, at around 55%. The average annual income of countries correlates negatively with national levels of religiosity.
Common types of securities include bonds, stocks and funds (mutual and exchange-traded). Funds and stocks are the bread-and-butter of investment portfolios. Billionaires use these investments to ensure their money grows steadily.
The top 20% of Americans owned 86% of the country's wealth and the bottom 80% of the population owned 14%.
There is a difference between being rich and being wealthy in terms of money and financial resources. Being rich typically means having a lot of possessions and material wealth, while being wealthy is more about having sustainable and lasting wealth.
Does net worth include home?
At its most basic, net worth is everything you own minus everything you owe. To calculate your net worth, tally the value of all or your assets, including bank accounts, investments, and perhaps the value of your home or vacation home.
We have shown labour income inequality has been a huge factor in the growing gap between rich and poor in the US. Controlling unemployment and designing policies aimed at boosting wages at the lower end of the market must be a priority if wealth inequality is to be reduced.
All, however, are among the wealthiest and most powerful people on Earth — yet many remain obscure and relatively unknown by the average person working for a wage. The following list of unsung billionaires is proof that rich doesn't always mean famous. Keep reading to meet the richest people you've never heard of.
With an estimated wealth of $305 billion, the Royal family of Abu Dhabi- Al Nahyan family— is known as the richest family in the world. The head of the Al Nahyan family, Sheikh Mohammed bin Zayed Al Nahyan, is the ruler and President of the United Arab Emirates (UAE).
What hasn't changed: Walmart founder Sam Walton's heirs continue their reign as America's wealthiest family, worth $267 billion, exactly $150 billion more than number two Mars. Still, relatively speaking, the Waltons' fortune grew by less than many other wealthy families.
