Global 1%

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Jason
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Global 1%

Post by Jason » Fri Nov 02, 2018 7:10 am

https://www.cnbc.com/2018/11/01/how-muc ... dwide.html

Net worth of $871,320.00 is required to make it to the 1%. Approximately 19 Million US citizens have it.

Top 10%? 93K

Top 50% $4,210.00

From a personal perspective, $871K is interesting because it pretty much coincides with my FU number. From a political hyphen socio/political perspective, well, there you have it.

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Bankai
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Re: Global 1%

Post by Bankai » Fri Nov 02, 2018 7:34 am

http://www.globalrichlist.com/wealth has the following:

$770000 NW

$32400 net income

Seems to be huge discrepancy between nw and income. Also, this income seems way too low for 1% - is there only 80m ppl worldwide making this much?

2Birds1Stone
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Re: Global 1%

Post by 2Birds1Stone » Fri Nov 02, 2018 7:43 am

These articles are a great reminder that despite the bitching people do here in the USA about how hard it is for the "middle class to get ahead" we are living like royalty compared to much of the world......

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vexed87
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Location: Yorkshire, UK

Re: Global 1%

Post by vexed87 » Fri Nov 02, 2018 7:45 am

2Birds1Stone wrote:
Fri Nov 02, 2018 7:43 am
These articles are a great reminder that despite the bitching people do here in the USA about how hard it is for the "middle class to get ahead" we are living like royalty compared to much of the world......
Indeed, but... healthy pinches of salt required, cost of living isn't factored in. Nor are other forms of capital. The statistics are purely academic.

tonyedgecombe
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Re: Global 1%

Post by tonyedgecombe » Fri Nov 02, 2018 10:07 am

vexed87 wrote:
Fri Nov 02, 2018 7:45 am
Indeed, but... healthy pinches of salt required, cost of living isn't factored in.
From the second site:
For currency conversion we use Purchasing Power Parity Dollars (PPP$) in order to take into account the difference in cost of living between countries;

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vexed87
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Re: Global 1%

Post by vexed87 » Fri Nov 02, 2018 10:27 am

Should have read the link! But... other capital still holds :lol:

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unemployable
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Re: Global 1%

Post by unemployable » Fri Nov 02, 2018 1:29 pm

Bankai wrote:
Fri Nov 02, 2018 7:34 am
http://www.globalrichlist.com/wealth has the following:

$770000 NW

$32400 net income

Seems to be huge discrepancy between nw and income. Also, this income seems way too low for 1% - is there only 80m ppl worldwide making this much?
Actually that's close to a 4% withdrawal rate! 4.2 as it turns out. The global 1% could collectively all retire right now!

You really need spending in addition to income. $32K in San Francisco is very different from $32K in Ulaanbaatar.

enigmaT120
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Re: Global 1%

Post by enigmaT120 » Mon Nov 05, 2018 5:30 pm

Jason wrote:
Fri Nov 02, 2018 7:10 am
Net worth of $871,320.00 is required to make it to the 1%. Approximately 19 Million US citizens have it.
Cool, I passed that up last year. But my numbers don't include the value of my timber, because I won't know that until I do a cruise after I retire.

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Jin+Guice
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Re: Global 1%

Post by Jin+Guice » Mon Nov 05, 2018 9:47 pm

Bankai wrote:
Fri Nov 02, 2018 7:34 am
http://www.globalrichlist.com/wealth has the following:

$770000 NW

$32400 net income

Seems to be huge discrepancy between nw and income. Also, this income seems way too low for 1% - is there only 80m ppl worldwide making this much?
This is the same thing I was complaining about in my global income distribution thread. Branko Malanovic did some work on this, but I also found his assertions questionable. A lot of those numbers are published to encourage charitable giving to poorer countries so they have an incentive to make you look wealthier than you are. The lowest number you can enter into income on global rich list is $1,000 which puts you at top ~58%. 42% of the world lives on less than $1,000 a year? That's basically impossible if it's supposed to be $PPP. Of course $PPP isn't perfect, but these numbers are ridiculous.

The Old Man
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Re: Global 1%

Post by The Old Man » Mon Nov 05, 2018 10:23 pm

https://en.wikipedia.org/wiki/List_of_c ... per_capita

The above link has some PPP information. The Global Rich List seems questionable. While much of the world is poor, <$1000 USD/year for 42% of the global population is not credible.

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