Does top 1% of Americans really have 5 million dollar?

Question

Its hard to believe that 3 million people in United States (out of 300 million) have 5 million dollar in net worth. Does this mean after mortgages and debt paid out or does this include them both? So in order to fit inside the top .1% (300,000) you need 20 million dollar?

Answer 1

Net worth is DEFINED as assets minus liabilities.

If you have a net worth of just $2000 you are in the top half of all of the people on planet earth!

If you have a net worth of $500,000 you are in the top 1% of all the people on the planet.

Answer 2

5 Million doesn't get you into the top 1%

Net worth parking ramp

Net worth (percentile) Median net worth (rounded)

Level VI (90 to 100) $833,600

Level V (80 to 89.9) $263,100

Level IV (60 to 79.9) $141,500

Level III (40 to 59.9) $62,500

Level II (20 to 39.9) $37,200

Level I (less than 20) $7,900