"Report Reveals $5.8 Million Net Worth Requirement for Top 1% of Americans"

According to the 18th edition of the Wealth Report from Douglas Elliman and Knight Frank, it now takes a net worth of $5.8 million to be among the richest 1% of Americans, with the U.S. ranking fourth globally in terms of assets needed to break into the top 1%. The report also highlights the coming Great Wealth Transfer, where $90 trillion in assets will change hands over the next two decades in the U.S. alone, leading to affluent millennials becoming "the richest generation in history" and potentially creating a "seismic shift" in how wealth is used, with younger individuals and more women expressing concerns about climate change and viewing their wealth as a tool for change.