Many people have a misconception about the global 1%. They think 1 percenters live in big houses, drive fast cars and holiday on private islands. Well, this couldn’t be further from the truth. According to http://www.globalrichlist.net/, if you earn over £25,300 a year, you are part of the global 1%. Yes, that’s right, £25,300 of net after tax income gets you into the 1% club!
If on the other hand you believe that the 1% should be determined by wealth as opposed to income, the Global Rich List websites computes this as well. By entering your country of residency, equity in your home, value of your possessions and investments, the calculator can tell you what percentage of the richest people in the world you are in. It ask gives you information on your exact position in term of the global population. To be in the top 1% of all wealth earners, you need to have assets totalling just over £600,000! That makes virtually every London homeowner a 1%!
So the next time you argue about the 1% having an enormous amount of wealth, you need to think again.It is only a tiny proportion within the 1% that have obscene riches. The rest live a middle class lifestyle and have an average house in an average neighbourhood and drive an average car!