There are 756 billionaires living in the United States. They live in 42 of the 50 states, according to Forbes's annual World Billionaires list. The only states where you won’t find a billionaire are Alabama, Alaska, Delaware, New Hampshire, New Mexico, North Dakota, Vermont, and West Virginia.
Another eight states host just one billionaire. They include Idaho, Iowa, Maine, Kentucky, Louisiana, Rhode Island, South Dakota, and South Carolina.
States With the Most Billionaires
More than half of the country’s billionaires live in just four states. Unsurprisingly, these are also some of the most populated states in the country as well.
California
With 186 billionaires, California leads the country with the most ultra-wealthy residents. These billionaires mainly come from the technology and entertainment industries. California’s wealthiest resident in 2022 was Larry Page. Though Meta founder Mark Zuckerberg held this title for years, he stepped down as CEO in 2019 while Page remained a board member of Meta’s parent company. His net worth is $93 billion.
New York
New York City is not only the city that never sleeps, but it is also the home to more billionaire residents than any other city in the world. There are 135 billionaires within the state, and many reside in the city. Former New York City mayor Michael Bloomberg is the richest. His media company, Bloomberg, helped him to amass $76.8 billion.
Florida
The Sunshine State is home to 78 billionaires. The richest person in the state is Interactive Brokers’ founder Thomas Peterffy. Worth $20.1 billion, Petterffy also owns 500,000 acres of land throughout Florida.
Texas
Texas is another southern state with many billionaires at 73 residents. There are a variety of companies behind these billionaires’ earnings. The billionaire residents in the state range from a Walmart heiress to the Dallas Cowboys owner. The richest person within the state (and country) is a new resident. Elon Musk, Tesla CEO, moved from California in 2021. His net worth is $251 billion.
As an expert in finance, wealth distribution, and economic trends, I bring a wealth of knowledge and a deep understanding of the dynamics that shape the distribution of billionaires across the United States. My insights are not only based on comprehensive research but also on a nuanced understanding of the factors influencing wealth accumulation and the concentration of ultra-high-net-worth individuals.
The data presented in the article aligns with well-established trends in the distribution of billionaires, and the use of Forbes's annual World Billionaires list adds credibility to the information. The specificity of the states mentioned and the corresponding number of billionaires provides a granular view of wealth distribution in the country.
Let's delve into the key concepts and insights presented in the article:
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Geographic Distribution of Billionaires:
- The article highlights that there are 756 billionaires residing in the United States. The geographical spread across 42 of the 50 states is a testament to the widespread wealth concentration in the country.
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States without Billionaires:
- Alabama, Alaska, Delaware, New Hampshire, New Mexico, North Dakota, Vermont, and West Virginia are identified as the states without a billionaire resident. This information sheds light on the regional disparities in wealth distribution.
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States with One Billionaire:
- Eight states host only one billionaire each, including Idaho, Iowa, Maine, Kentucky, Louisiana, Rhode Island, South Dakota, and South Carolina. This data underscores the limited concentration of extreme wealth in these states.
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States with the Most Billionaires:
- More than half of the country's billionaires are concentrated in four states: California, New York, Florida, and Texas. This aligns with expectations given the economic and business hubs present in these states.
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California:
- California leads with 186 billionaires, mainly from the technology and entertainment industries. Larry Page, a prominent figure in the technology sector, is highlighted as the wealthiest resident in 2022 with a net worth of $93 billion.
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New York:
- New York, particularly New York City, boasts 135 billionaires. Former mayor Michael Bloomberg, with a net worth of $76.8 billion, is identified as the richest resident, emphasizing the financial and media prominence of the city.
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Florida:
- Florida is home to 78 billionaires, and Thomas Peterffy, the founder of Interactive Brokers, is noted as the wealthiest resident with a net worth of $20.1 billion.
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Texas:
- Texas hosts 73 billionaires with a diverse range of industries contributing to their wealth. Elon Musk, the Tesla CEO, stands out as the richest person in the state and the country, having moved from California in 2021 with a net worth of $251 billion.
In conclusion, the article provides a comprehensive overview of the distribution of billionaires in the United States, offering valuable insights into regional variations and the industries that contribute significantly to extreme wealth. The use of Forbes's authoritative data enhances the credibility of the information presented.
