The top one percent has a total net worth of $44 million according to the St. Louis Fed.
Total Net Worth Held by the Top 1%
(99th to 100th Wealth Percentiles)
(WFRBLT01026)
According to the SmartAsset article "What It Takes to Be in the 1% By State – 2022 Study",
"An American family needs an income of $597,815 to be considered in the top 1% of earners nationwide. This, however, varies from state to state. In Connecticut, a family needs almost $900,000 in annual income to be in the top 1% of earners in their state, whereas a family in the top 1% of West Virginia needs only an average of just over $350,000"
A VC told me last summer that they have to pay key people poached from Google about one million a year in salary, which I thought was high but sure explains how people can pay $4M to $6M for a home in the more expensive cities here (Atherton, Hillsborough, Palo Alto, Los Altos, Los Altos Hills, Woodside etc. ) Looking at this data, it fits as key people at top companies should be in the top 0.1% of pay.
Here’s how much money you have to earn to be in the top 1% in every US state
#1 Connecticut
Top 1% income threshold: $896,490Top 5% income threshold: $311,589
#2 Massachusetts
Top 1% income threshold: $810,256Top 5% income threshold: $314,389
#3 New York
Top 1% income threshold: $777,126Top 5% income threshold: $265,530
#4 New Jersey
Top 1% income threshold: $760,462Top 5% income threshold: $308,976
#5 California
Top 1% income threshold: $745,314Top 5% income threshold: $291,277
#6 Washington
Top 1% income threshold: $685,128Top 5% income threshold: $283,574
#7 Colorado
Top 1% income threshold: $632,277Top 5% income threshold: $264,313
#8 Illinois
Top 1% income threshold: $627,329Top 5% income threshold: $250,266
#9 Florida
Top 1% income threshold: $623,736Top 5% income threshold: $223,179
#10 Texas
Top 1% income threshold: $594,313Top 5% income threshold: $237,383
Maryland
Top 1% income threshold: $588,035Top 5% income threshold: $265,100
Virginia
Top 1% income threshold: $584,784Top 5% income threshold: $270,360
Wyoming
Top 1% income threshold: $578,298Top 5% income threshold: $212,937
Minnesota
Top 1% income threshold: $574,780Top 5% income threshold: $243,659
New Hampshire
Top 1% income threshold: $568,731Top 5% income threshold: $254,995
Georgia
Top 1% income threshold: $543,748Top 5% income threshold: $225,232
Pennsylvania
Top 1% income threshold: $541,612Top 5% income threshold: $229,015
North Dakota
Top 1% income threshold: $540,837Top 5% income threshold: $223,203
Nevada
Top 1% income threshold: $540,025Top 5% income threshold: $205,028
Utah
Top 1% income threshold: $528,864Top 5% income threshold: $217,757
Oregon
Top 1% income threshold: $517,607Top 5% income threshold: $228,006
North Carolina
Top 1% income threshold: $506,795Top 5% income threshold: $218,073
South Dakota
Top 1% income threshold: $504,422Top 5% income threshold: $203,185
Arizona
Top 1% income threshold: $503,408Top 5% income threshold: $216,972
Kansas
Top 1% income threshold: $501,009Top 5% income threshold: $213,529
Rhode Island
Top 1% income threshold: $493,748Top 5% income threshold: $220,113
Tennessee
Top 1% income threshold: $492,583Top 5% income threshold: $201,597
Alaska
Top 1% income threshold: $486,671Top 5% income threshold: $230,260
Delaware
Top 1% income threshold: $480,472Top 5% income threshold: $222,092
Nebraska
Top 1% income threshold: $477,312Top 5% income threshold: $207,417
Michigan
Top 1% income threshold: $476,358Top 5% income threshold: $208,693
Wisconsin
Top 1% income threshold: $475,584Top 5% income threshold: $204,669
Louisiana
Top 1% income threshold: $471,506Top 5% income threshold: $199,454
Missouri
Top 1% income threshold: $470,279Top 5% income threshold: $202,054
Oklahoma
Top 1% income threshold: $469,311Top 5% income threshold: $197,397
Montana
Top 1% income threshold: $465,702Top 5% income threshold: $196,629
South Carolina
Top 1% income threshold: $463,976Top 5% income threshold: $202,000
Idaho
Top 1% income threshold: $462,352Top 5% income threshold: $197,850
Ohio
Top 1% income threshold: $460,129Top 5% income threshold: $197,621
Hawaii
Top 1% income threshold: $453,471Top 5% income threshold: $212,622
Vermont
Top 1% income threshold: $451,765Top 5% income threshold: $206,007
Iowa
Top 1% income threshold: $441,223Top 5% income threshold: $202,268
Indiana
Top 1% income threshold: $437,567Top 5% income threshold: $192,928
Maine
Top 1% income threshold: $434,306Top 5% income threshold: $194,663
Alabama
Top 1% income threshold: $432,330Top 5% income threshold: $193,273
Kentucky
Top 1% income threshold: $412,836Top 5% income threshold: $184,217
Arkansas
Top 1% income threshold: $411,633Top 5% income threshold: $183,945
New Mexico
Top 1% income threshold: $384,427Top 5% income threshold: $185,641
Mississippi
Top 1% income threshold: $361,462Top 5% income threshold: $168,705
West Virginia
Top 1% income threshold: $350,212Top 5% income threshold: $171,135
Sources:
- SmartAsset Article: What It Takes to Be in the 1% By State – 2022 Study
- CNBC Commentary: Here’s how much money you have to earn to be in the top 1% in every US state
- Sun Tzu at SI: Here’s how much money you have to earn to be in the top 1% in every US state
"I can tell you that the top 5% earnings in the bottom of the list can only make for comfortable average living in the top of the list."
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