Want to join the top 1% crowd? Here’s how much money you’ll need to be part of the elite 1%.

“Our numbers reveal, though, that exclusive as it may sound, it’s actually easier to become a member of this particular club than it is to gain UHNWI status,” says the report released Wednesday. UHNWI stands for ultra-high-net-worth individual, which would be someone with a net worth of $30 million or more.

Of course, define “easier.” The country with the highest threshold to entry is Monaco, where just over $12.8 million is required to be part of the 1% as of fourth-quarter 2023 data. The top five countries with the highest bars for entry after Monaco were Luxembourg, Switzerland, the U.S. and then Singapore.

In the U.S., the threshold is $5.8 million. And for those who would like a fast-track into the 1% club, China, at the bottom of that list of 17 countries requires just over $1 million and just ahead of it, Japan, is hovering at just under $2 million.

Knight Frank said the number of UHNWI individuals globally rose 4.2% to 626,619 from 601,300 a year earlier, which more than reversed a decline seen in 2022. The report also included an Attitudes Survey that showed how optimistic money managers were that their clients’ money would rise in 2024. On a scale of 1 to 5, the Middle East came out on top, with North America lower down, according to this chart:

Looking across generations, the report found one group in particular was most optimistic about increasing their money — Gen Z, where 75% of respondents said they expected an increase in 2024. Boomers are at the lower end, with Gen X not far behind, at just over 50% each.

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