The world's top 1% richest individuals (approx. 60 million adults with over $1 million net worth) own roughly 47.5% ($214–$226 trillion) of all global wealth. They hold a record $52 trillion in wealth, with a minimum net worth threshold to join this group, which can vary by country but is often over $1 million.
Key Takeaways
According to the UBS Global Wealth Report, in 2023 the world's richest 1 percent, those with more than $1 million, owned 47.5 percent of all the world's wealth – equivalent to roughly $214 trillion.
Joining the top 1% requires a net worth of $11.6 million to $13.7 million, a slight dip from 2024 peaks due to market declines but still among the highest in history.
Individuals in the top 10% earn at least six figures annually. In some areas, those in the top 1% must make over $1 million per year, while in others, the threshold is lower. Both the earnings and wealth of top earners have increased in recent decades.
The top 1% have seen their wealth increase by $4 trillion over the past year, an increase of 7%. Their wealth hit a record $52 trillion in the second quarter. The top 0.1% saw their wealth grow by 10% over the past year.
So, what's considered rich? According to the Federal Reserve's triennial data, the top 10% of households have a net worth starting at $1.9 million. The top 1% households exceed $13 million.
Roughly 7% to 9% of American households have $500,000 or more in retirement savings, though figures vary slightly by source, with data from late 2025 suggesting around 7.2% and older 2022 data indicating about 9%, showing it's a significant milestone achieved by less than one in ten families, despite higher averages driven by wealthy individuals.
According to a 2021 report from the Parliamentary Budget Officer (PBO), the threshold for being in the top 1% of net worth in Canada is having assets of at least $6.3 million. This group includes around 160,000 families in Canada.
What is the average wealth for Americans and the top 1 percent?
Eight men own the same wealth as the 3.6 billion people who make up the poorest half of humanity, according to a new report published by Oxfam today to mark the annual meeting of political and business leaders in Davos.
It's often viewed as a marker of financial success. According to 2023 estimates from the Credit Suisse Global Wealth Report and other sources, approximately 23.7 million U.S. households, or about 18.04% of all households, have a net worth of $1 million or more.
Only a small percentage of Americans retire with $1 million or more in retirement savings, with figures from the Federal Reserve and Employee Benefit Research Institute (EBRI) showing around 3.2% of retirees hitting that mark, though some sources cite slightly lower numbers for all Americans (around 2.5%) or higher estimates for households nearing retirement (over 10% of older households have $1M+ net worth, not just retirement funds). The reality is most retirees have significantly less, with the median for ages 65-74 being around $200,000-$609,000 in retirement accounts.
Only a small fraction of Americans, around 1.8% of U.S. households, have $2 million or more saved in retirement accounts, according to analyses of Federal Reserve data by organizations like the Employee Benefit Research Institute (EBRI). This puts them in a very elite group, as most people fall far short of this milestone, with far fewer reaching $3 million (around 0.8%).
Methods to estimate how much you need to retire
A general rule of thumb is to have at least 10 to 12 times your annual income saved by age 67 if you plan to retire at this traditional retirement age. For instance, if you earn $150,000 per year, the retirement savings target would be between $1.5 and $1.8 million.
A very small percentage of people, less than 1% of households, have $3 million or more in retirement savings, making it a significant but uncommon financial milestone, often placing individuals in the top tiers of wealth distribution. Reaching this level requires consistent saving, investing, and diligent financial management, with many households facing obstacles like debt and living expenses.