From Brazil to India, a breakdown of the richest of the rich.
Since the financial crisis, income inequality has garnered increasing attention from economists, politicians, and journalists, and perhaps no income level has been cited more than the so-called 1 Percent. Yet that term can describe a wide variety of earners, depending on where they live.
What They Make
Income standards vary wildly around the world. You might need the combined incomes of eleven 1 Percenters in India, a developing market, to equal one in the oil-rich United Arab Emirates. The U.S. almost splits the difference.
Annual pretax income threshold to be in the top 1 percent of earners
What They Owe
In most of the developed world, 1 Percenters don’t keep everything they make. A significant share of their income is earmarked for the government. In many countries, the highest income tax rate applies to only a portion of the 1 Percent.
Source: KPMG
What They Spend
The cost of luxuries and amenities is relative, too. What you pay for a Los Angeles mansion might get you merely a charming apartment in Monaco. On the other hand, child-care costs in those cities aren’t nearly as far apart.
Housing, education, and childcare costs
*Costs vary by grade
Sources: Knight Frank, Chamness WorldWide