In the words of the genius with uncombed hair and tongue stuck out, everything is relative. The speed of light, gravity, and laws of physics in space all mean that different forces work differently in different places, according to Albert Einstein's famous Theory of Relativity. As he raked in more money after his life than during it, Einstein's existence itself proves his theory. Taking Einstein’s teachings and applying them to money instead of space, you’ll find that it tracks—the amount of wealth you have depends on where you are and when you are alive. That’s all to say, it’s all relative. Knight Frank, the real estate agency and consultancy group, issues an annual report on the 1% worldwide. Looking at billionaires in more than 200 territories and 100 cities, Knight Frank also measured current attitudes toward wealth by surveying 500 wealth advisors and bankers as well as 500 high net worth individuals across the globe. Making the 1% has its own theory of relativity, it turns out.
Monaco, the small country where Grace Kelly became a princess, is perhaps unsurprisingly the hardest place to be wealthy. (Come on, it’s Monaco.) It takes $12.4 million to be considered part of the 1% in the land known for luxury, real estate agency Knight Frank found in its annual wealth report.
