This Is What It Takes To Be A Part Of The World’s Top 10 Percent

Business LoungeJanuary 16, 2019

There are only a few countries in the world who are known as powerful and wealthy which leads to the realization that there are billions of people who are suffering from poverty. This also leads to people wondering what does it take to belong to the richest 10 percent of the world’s population.

itti ratanakiranaworn/Shutterstock
The Global Rich list believes that in order to be a part of the top 1 percent of the world’s richest, an annual income of at least $32,400 must be achieved.

Who Are Considered As Rich?

There are moments when people see someone living in a big house, drive a nice car, wear designer clothes, have a lot of cash or credit cards, that is when they will refer to that person as someone who is rich. Turns out expert say that this kind of thinking is for people who are considered as low-class. Referring to someone turns out to be a way of thinking depending on a situation you are in.

Syda Productions/Shutterstock
One of the main reasons why rich people are considered as rich even if they do not seem to have that much is because of the extreme poverty rate in most countries all over the world.

In the United States, over half of their population believe that in order to be considered as rich then a person must earn at least a million. The survey by GOBankingRates also showed that some think it should be more than ten million. This is where experts identified that it depends on the place. To people who are barely making it through the day, eating more than three times a day is considered a luxury. To people who are working instead of studying, going to a public school is a privilege.

What financial experts believe is that the idea of being rich comes with the relation of the words “security” and “worry”. People who are extremely wealthy have that sense of security within them, they feel secure that their family is living a comfortable life. Whereas people who are not rich tend to worry about spending, saving, and budgeting their money at all times. This adds to the wonder if how much does it take for someone to become a part of the top percentage of the world.

Worldwide Rich Percentage

It turns out that in order to become a part of the top 10 percent of the world, you would not even need to be a millionaire. Credit Suisse Research Institute revealed that in order to be richer than almost 90 percent of the people all over the world, all you need is just a hundred thousand dollars annually.

This basically means that there are more than a hundred million people in the United States who are a part of the top 10 percent worldwide even if most of them don’t really feel like it. This also means that if you have a little under $5,000 under your name, then you are richer than half of the world’s population. This now leads to people wondering how it actually happened, what they don’t realize is that there are billions of people all over the world who are living in poverty.

Evannovostro/Shutterstock
There are millions of Americans who belong to the top 10 percent of the worldwide wealth since the United States is a first world country.

The persistent wealth inequality has been around for decades but it is something that is no longer deeply looked into and has been pushed aside. The only good news is that the wealth inequality is no longer rising, it is more of stuck and world leaders are not that bothered since it was around for a while now.

It may not seem fair but it may take a couple more years for other countries to be developed that could lead to more opportunities for their people to find a good source of income to live a good and comfortable life. Right now, some of the richest people in the world are living in the United States but the richest country is Qatar. Some nations in the Middle East and Africa continue to hold the record of having the most people who are living in poverty and this is all according to the World Bank study.