The top 1% of income worldwide is not explicitly defined by a specific income amount in the provided reference, but rather by wealth.
Understanding the Top 1%
According to Credit Suisse, the top 1% of individuals globally are those who possess more than $1 million in wealth. This doesn't directly translate to income, but rather to net worth (assets minus liabilities). Wealth can include a variety of assets, such as:
- Real estate
- Stocks and bonds
- Cash
- Businesses
- Other investments
It is important to note that the income of the top 1% will vary greatly depending on many factors, such as country of residence, investments and income sources.
Key Points About the Wealthy
- Billionaires' Wealth: Billionaires have seen a significant increase in their wealth, with a collective increase of $2.6 trillion since before the pandemic.
- Recent Fluctuations: Although billionaires' wealth increased overall, it did experience a slight downturn in 2022 after peaking in 2021.
Wealth vs. Income
It's crucial to differentiate between wealth and income:
- Wealth is the total value of all assets owned by an individual, minus their debts.
- Income is the money earned on a regular basis from work, investments, or other sources.
While high wealth often correlates with high income, they are not the same thing. Therefore, the reference specifies a wealth threshold for the top 1%, not an income threshold.
Conclusion
While the reference doesn't specify a precise income figure for the top 1% worldwide, it clarifies that individuals with more than $1 million in wealth belong to this bracket.
