(CNN Spanish) – Annual report of the wealth of the British company Knight Franka British property advisory firm, reveals the net worth it takes to be part of the richest 1% exclusively in 25 countries and/or territories.
The data shows that Monaco tops the list with the largest population of the ultra-wealthy. To be among the top 1% of the emirate’s richest people, you need a net worth of $12.4 million USD.
In second place, Switzerland follows with a large distance, because 6.6 million US dollars are in the country (nearly half of what is required in Monaco) to be part of the richest 1%.
Australia ranks third with $5.5 million. It is followed by New Zealand with US$5.2 million. The United States with about $5.1 million, and Ireland with $4.3 million.
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The Knight Frank report shows three countries on the European continent with relatively little difference. This is the UK, at US$3.3 million; Italy, $2.6 million, and Spain, $2.5 million.
In Asia, Singapore has the highest threshold, with $3.5 million required to belong to the 1%. It is followed by Hong Kong with US$3.4 million. Japan, needing US$1.7 million, and China took the last place on the continent, with US$960,000.
In the Middle East, the gap between one country and another is huge. In the UAE, you need to have a net worth of $1.6 million to be part of the richest 1% in the country, while in Saudi Arabia you need to own $740,000.
In Latin America, residents of Brazil need about $433,000 to belong to the richest 1% of the population, followed by Mexico, with a relatively low $383,000.
According to the annual report of Oxfam published Inequality in January, In the past two years, the world’s richest 1% have acquired nearly twice as much wealth as the rest. The fortunes of the super-rich accelerated during the pandemic, rising by $26 trillion, while the remaining 99% of the population only increased their net worth by $16 trillion.
Inequality in Latin America
The richest 1% in Latin America highlights the problem of inequality in the region, where poverty is widespread. According to the 2022 report forecasts for Economic Commission for Latin America and the Caribbean (CEPAL)In Latin America, 201 million people live in poverty (more than 30% of the total population), of which 82 million (more than 13%) live in extreme poverty.
he ECLAC Gini Index Recorded in 2020 reflects that the national average in Latin America is 0.464, a figure that has been getting worse since 2010.
The Gini coefficient measures inequality in the income distribution and ranges from 0 to 1, where 0 is perfect equality and 1 is perfect inequality.
The Gini index increased significantly with the spread of the epidemic, in addition to the large number of layoffs that were recorded on the continent, it was added that only 21% of workers in the region can do remote work, as the data reflects ECLAC Social Panorama.
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