Here's how wealthy the average family is in 35 countries around the world (2024)

FAQs

How wealthy is America compared to the rest of the world? ›

Which is the wealthiest country? With an overall net worth of $145.8 trillion and a GDP of $25.46 trillion, the US is the number one richest nation in the world.

What is the median wealth per capita worldwide? The global median wealth per capita is just $8,360. Here is the breakdown of median wealth per person by continent or region: North America: $95,255.

You now need a net worth of at least $5.8 million in order to be part of that small but elite group, according to the upcoming 2024 wealth report from Knight Frank. That is a notable 12% increase from the $5.1 million needed just one year ago.

A new index shows Switzerland, the US and Singapore have the greatest opportunities for advancement in terms of education and employment. Residential properties in Bern, Switzerland. The best country to build multi-generational wealth is Switzerland.

The US has pulled further ahead of China in the race for world's biggest economy, thanks in part to a vibrant American consumer. US gross domestic product rose 6.3% in nominal terms — that is, unadjusted for inflation — last year, outpacing China's 4.6% gain.

In the U.S., it may take you $5.81 million to be in the top 1%, but it takes a minimum net worth of $30 million to be considered among the ultra-high net worth crowd. As of the end of 2023, this ultra-high net worth population is on the rise, reaching 626,000 globally, up from just over 600,000 a year earlier.

A Subjective Concept. While having a net worth of about $2.2 million is seen as the benchmark for being rich in America, it's essential to remember that wealth is a subjective concept. Healthy financial habits and personal perspectives on money are crucial in defining and achieving wealth.

The Federal Reserve provides the median net worth for these groups in its 2022 Survey of Consumer Finances. Here's the much each group has: The upper class starts with an average net worth of $793,120. That's for the top 80% to 90% of earners.

Determining what your net worth should be at any age can be a bit tricky, and it depends on your income. Say you're 30 years old and your income is $50,000 per year. Your net worth should be $150,000, according to this formula. A $25,000 salary at age 30 would mean an ideal net worth of $75,000.

The top 1% of household net worth in the U.S. was just shy of $13.7 million in 2023. An individual would have to earn an average of $407,500 per year to join the top 1%. A household would need an income of $591,550. The median household income was $74,580 in 2023 and $45,440 for individuals.

What is the top 5 net worth in the US? ›

The most recent data from the Fed's Survey of Consumer Finances took a snapshot of the American public at the end of 2022. At that point, a net worth of $3,795,000 was enough to put you in the top 5% of all American households.

How Many Millionaires Are in the U.S.? Do you know how many millionaires there are across the country? According to a recent study, almost 24.5 million millionaires live in the U.S. today. To put that into perspective, that's more people than the entire population of Florida!

New York still leads the U.S. and the world when it comes to wealthy cities. With nearly 350,000 millionaires and 60 billionaires, the Big Apple is the richest city in America, according to the USA Wealth Report from Henley & Partners and New World Wealth.

Monaco: Arguably the world's top safe haven for the super-rich.

The U.S. is the third-wealthiest country on a per-capita average basis, yet Americans are only in rank 15 for median wealth. The situation in Belgium is the other way round: It is listed 13th for average wealth, but third for median wealth, showing that it is a more egalitarian country in terms of wealth distribution.

The United States is the undisputed heavyweight when it comes to the economies of the world. America's gross domestic product in 2022 was more than 40% greater than that of China, the world No. 2. Even more striking, U.S. GDP was over five times that of the next two largest economies, Japan and Germany.

Source: OECD Data, 2019. What we find is that the U.S. rates of poverty are substantially higher and more extreme than those found in the other 25 nations. The overall U.S. rate using this measure stands at 17.8 percent, compared to the 25 country average of 10.7 percent.