Guess how much money you need to be in South Africa’s top 1% richest?

Knight Frank’s Wealth Sizing Model, updated this week, has revealed how much money individuals require in order to be among the top 1% of wealthiest in their countries.

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The entry point for Monaco – the wealthiest nation – is a staggering $12.4 million (R241 million).

Rounding out the Top 5 are Switzerland $6.6 million (R128 million), Australia $5.5 million (R107 million), New Zealand $5.2 million (R101 million) and the United States $5.1 million (R99 million).

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South Africa is among the poorer nations according to the report at 23rd of the 25 countries compared.

25 COUNTRIES WERE COMPARED

South Africans need a net wealth of $109 000 (R2.1 million) to be part of the select group of top 1% wealthiest in the country.

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The infographic below shows the 25 countries Knight Frank’s Wealth Sizing Model compared and how much money (in US dollars) individuals need to be among the top 1%.

NOTE: Exchange rate used at time of publishing was R19.44/$

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