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According to http://www.globalrichlist.com/wealth http://www.globalrichlist.com/wealth you qualify as a global 1 percenter if your net wealth is >= $770,000. T

According to http://www.globalrichlist.com/wealth http://www.globalrichlist.com/wealth you qualify as a global 1 percenter if your net wealth is >= $770,000. That makes you the 45,045,226th richest person on earth.

aryehh 12y ago
Thanks for quantifying that. Knowing that threshold, rather than just an abstract "1%" is useful.
jpollock 12y ago
So, just about anyone in West with a secure retirement and a house.
- modfodder 12y ago
  that's probably far fewer people than you think.
  - riffraff 12y ago
    also in many places it's common that the house is co-owned between partners (i.e. husband and wife), so the two should have wealth for 1.5M$. Also, debts.
  - zaroth 12y ago
    corysama says 45,045,226 adults. If they were all in the US, that would be 18.5% of the US adult population. "Of the remaining 52% of global wealth, almost 46% is owned by the rest of the richest fifth of the world's population, Oxfam said." So that's 94% of human wealth concentrated in the top 20% of humans. Keep in mind the 80th percentile global wealth is, according to TFA, $3,851. To me, I see this as an incredible opportunity, because I imagine with a few dollars of computing power and a network connection, a human would have everything they need (except for the requisite food, water, shelter, freedom, safety, and education) to readily earn that. To me that means there's no need to drastically redistribute wealth. What we need to redistribute is basic human necessities. Anyone can be brought up to current 80th percentile if we can just provide the basics. The solution to that problem has confounded humankind since inception, but as hackers we believe technology holds the key to an answer. * Updated after jzwinck's reply.
    - jzwinck 12y ago
      If you exclude people under 18 then 45MM is a lot closer to 1%.
- CmonDev 12y ago
  You mean babyboomers who stole their children's future?
- jnbiche 12y ago
  You say that like it's a common thing for Westerners under 40 (and no, most of us aren't "on the path" to a secure retirement, either).
Intermernet 12y ago
According to the article: "That compares to an average wealth of $2.7m per adult for the elite 1%." The site you linked has no info (that I could find) regarding where they source their stats, as well as no info regarding how they process the numbers so I'd be a bit wary about trusting their figures. EDIT: That's not saying the numbers are wrong, if $2.7m is the average, then $770k could be the low end of the distribution. EDIT 2: After entering some numbers into their form, they finally show you who they are, and where they get their numbers. I really wish they had a link on their homepage with that info...
- corysama 12y ago
  Given a power law curve with $770K at the low extreme, $2.7m does not seem like an unreasonable average amount. RichList puts $1.31m=0.5%, $2.7m=%0.16 and 13m=0.01% of the population. It also says that $1B puts you at #998 in the world. Oxfam claims that number recently grew to 1645 [1]. I can accept 998 as a calculated estimate based on somewhat outdated data. But, it's obviously not nearly perfect. [1] http://www.theguardian.com/news/datablog/2014/oct/29/oxfam-report-220-years-richest-man-spend-wealth http://www.theguardian.com/news/datablog/2014/oct/29/oxfam-r...
JDiculous 12y ago
I'm -$110k in net worth (due to student loans). Wonder what percentile that makes me.
- deleted 12y ago
  [deleted]

aryehh 12y ago

Thanks for quantifying that. Knowing that threshold, rather than just an abstract "1%" is useful.

jpollock 12y ago

So, just about anyone in West with a secure retirement and a house.

modfodder 12y ago
that's probably far fewer people than you think.
- riffraff 12y ago
  also in many places it's common that the house is co-owned between partners (i.e. husband and wife), so the two should have wealth for 1.5M$. Also, debts.
- zaroth 12y ago
  corysama says 45,045,226 adults. If they were all in the US, that would be 18.5% of the US adult population. "Of the remaining 52% of global wealth, almost 46% is owned by the rest of the richest fifth of the world's population, Oxfam said." So that's 94% of human wealth concentrated in the top 20% of humans. Keep in mind the 80th percentile global wealth is, according to TFA, $3,851. To me, I see this as an incredible opportunity, because I imagine with a few dollars of computing power and a network connection, a human would have everything they need (except for the requisite food, water, shelter, freedom, safety, and education) to readily earn that. To me that means there's no need to drastically redistribute wealth. What we need to redistribute is basic human necessities. Anyone can be brought up to current 80th percentile if we can just provide the basics. The solution to that problem has confounded humankind since inception, but as hackers we believe technology holds the key to an answer. * Updated after jzwinck's reply.
  - jzwinck 12y ago
    If you exclude people under 18 then 45MM is a lot closer to 1%.
CmonDev 12y ago
You mean babyboomers who stole their children's future?
jnbiche 12y ago
You say that like it's a common thing for Westerners under 40 (and no, most of us aren't "on the path" to a secure retirement, either).

Intermernet 12y ago

According to the article: "That compares to an average wealth of $2.7m per adult for the elite 1%." The site you linked has no info (that I could find) regarding where they source their stats, as well as no info regarding how they process the numbers so I'd be a bit wary about trusting their figures. EDIT: That's not saying the numbers are wrong, if $2.7m is the average, then $770k could be the low end of the distribution. EDIT 2: After entering some numbers into their form, they finally show you who they are, and where they get their numbers. I really wish they had a link on their homepage with that info...

corysama 12y ago
Given a power law curve with $770K at the low extreme, $2.7m does not seem like an unreasonable average amount. RichList puts $1.31m=0.5%, $2.7m=%0.16 and 13m=0.01% of the population. It also says that $1B puts you at #998 in the world. Oxfam claims that number recently grew to 1645 [1]. I can accept 998 as a calculated estimate based on somewhat outdated data. But, it's obviously not nearly perfect. [1] http://www.theguardian.com/news/datablog/2014/oct/29/oxfam-report-220-years-richest-man-spend-wealth http://www.theguardian.com/news/datablog/2014/oct/29/oxfam-r...

JDiculous 12y ago

I'm -$110k in net worth (due to student loans). Wonder what percentile that makes me.

deleted 12y ago
[deleted]