• PugJesus@kbin.social
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    1 year ago

    Not quite.

    To be among the global top 10 percent, you may not need as much money as you think. According to the 2018 Global Wealth Report from Credit Suisse Research Institute, you don’t even need six figures.

    A net worth of $93,170 U.S. is enough to make you richer than 90 percent of people around the world, Credit Suisse reports. The institute defines net worth, or “wealth,” as “the value of financial assets plus real assets (principally housing) owned by households, minus their debts.”

    More than 102 million people in America are in the 10 percent worldwide, Credit Suisse reports, far more than from any other country.

    You need significantly less to be among the global 50 percent: If you have just $4,210 to your name, you’re still richer than half of the world’s residents. And it takes a net worth of $871,320 to join the global 1 percent. More than 19 million Americans qualify, Credit Suisse reports.

    https://www.cnbc.com/2018/11/07/how-much-money-you-need-to-be-in-the-richest-10-percent-worldwide.html

    There’s a good chance you’re in the top 10%, but the global top 1% is still the upper class.

    • Dr. Moose@lemmy.world
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      1 year ago

      Also it’s an extremely dumb take on economics. 93,170 USD doesn’t have the same value globally. You can own an entire factory for 93k in Bangladesh and just get by in NYC - how do you calculate emissions here? So, any statistics should consider regional 1% not global.

    • jaybone@lemmy.world
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      1 year ago

      This obviously does not adjust for local economies. In some places $92k is considered low income.