There are nearly 55,000 ultra-high-net-worth individuals in the U.S., and more than half keep their primary residence in just five states, according to a new survey. Here's where the super-wealthy live in America.
There are nearly 55,000 ultra-high-net-worth individuals — defined as individuals with more than $30 million in investible assets -- in the U.S., and more than half keep their primary residence in just five states, according to a new survey. Where do the super-wealthy live in America?
Research firm Wealth-X, based in New York, recently reported on where ultra-high-net-worth individuals (UHNW) live by state. California has the greatest number of super-wealthy residents, with more than 9,800 living in the Golden State, according to the survey. New York is home to more than 7,300 UHNW individuals, and Texas has more than 5,200. Illinois and Florida round out the list of the Top 5 states that are home to the most super rich.
While it’s not surprising to find the super rich choose to keep their primary residences on the coasts, the list of states that round out the Top 10 may surprise you. Midwest states, hit hard by the loss of manufacturing jobs, are called home by a large number of the super rich.
The next five states by rank are:
These states, along with the state of New Jersey, which ranked No. 11 on the Wealth-X survey, account for more than 65% of the U.S. ultra-wealthy population.
What states do the super rich tend to avoid? According to Wealth-X, only three states -- Alaska, Delaware and North Dakota -- have less than 100 UHNW residents.
The complete list can be found at the Wealth-X website.