Nearly half of the world’s richest one per cent of people live in the U.S., according to a top economist.
But the threshold required to make it in to that elite group is lower than you might think – just $34,000 per person.
While the Occupy Wall Street movement has focussed on the top one per cent of earners in the U.S., Branko Milanovic, a World Bank economist, has suggested that anti-inequality protesters should be more concerned with wealth disparity across the globe.
And although the rise of the middle class in the Third World has been loudly celebrated, Mr Milanovic points out that a middle-class salary in emerging economies would be considered dire poverty in the West.
Of the 60million or so people who made up the world’s richest percentile at the time of the most recent data, around 29million live in the U.S.
The top one per cent comprises anyone with an income over $34,000 after tax, meaning a family of four must earn $136,000 to make it in the category, according to CNN.