What state do millionaires live in?

Millionaires live across the U.S., but California, New York, Florida, and Texas have the highest absolute numbers, while New Jersey, Maryland, and Connecticut often lead in the highest percentage (or ratio) of millionaire households, indicating high wealth concentration, notes 24/7 Wall St. and Statista, respectively.

What state do most millionaires live in?

California has the most millionaires by absolute number, with over a million millionaire households, followed by Texas, New York, and Florida, but states like Connecticut and New Hampshire have higher concentrations (per capita) of wealthy households. The distinction matters: California leads in sheer volume due to its large population and tech/Hollywood wealth, while smaller states like Connecticut boast more millionaires relative to their population size. 

Where do extremely rich people live?

Here are the report's top 10 cities with the highest populations of ultra-wealthy people:

• New York. Number of ultra-wealthy people: 21,380. ...
• Hong Kong. Number of ultra-wealthy people: 17,215. ...
• Los Angeles. Number of ultra-wealthy people: 11,680. ...
• San Francisco. Number of ultra-wealthy people: 8,270. ...
• Chicago. ...
• Tokyo. ...
• London. ...
• Dallas.

What is the wealthiest state to live in?

The richest state to live in, based on recent data for median household income, is Massachusetts, followed closely by New Jersey, Maryland, and Utah, though "richest" can vary by metric (income vs. cost of living vs. wealth). While Massachusetts leads in income, it also has a high cost of living, making states like Utah or New Hampshire attractive for balancing income with expenses, and California leads in overall GDP but not median income. 

What city where 1 in 3 people are millionaires?

More than 12,000 of Monaco's 39,000 residents are millionaires, roughly one in three people. That astonishing ratio makes the Principality the undisputed leader in millionaire density worldwide.

Where America's Richest Billionaires Live: The Top States for Extreme Wealth In 2025

What city is full of billionaires?

Billionaire cities are major global urban centers where the wealthiest individuals reside, with New York City consistently leading as the top city with the most billionaires, followed by major financial hubs like London, Hong Kong, Beijing, and Mumbai, according to reports from Forbes and Hurun Research Institute in 2025. These cities attract the super-rich due to strong financial sectors, real estate, corporate presence, and significant wealth concentration, though some Chinese cities have seen recent declines due to economic shifts.
 

What makes 90% of millionaires?

There are so many people who have the knowledge but haven't actually applied the information. This is the power of real estate. Not only has it made 90% of millionaires.

What is the #1 expensive state to live in?

Top 10 states with the HIGHEST cost of living 💰💰💰 The No. 1 most expensive state is Hawaii, according to Stacker, which analyzed the rankings based on the cost of living by The Council for Community & Economic Research.

What state has no billionaires?

As of 2024, there are 756 billionaires living in 43 of the 50 US states or Washington, D.C. The only states with no billionaire residents are Alaska, Delaware, New Hampshire, New Mexico, North Dakota, and West Virginia.

Which state is so rich?

There isn't one single "richest" state, as it depends on the metric, but Massachusetts, Connecticut, Maryland, New Jersey, and California consistently rank among the wealthiest by factors like per capita income, household net worth, and GDP, with Massachusetts often leading in per capita income and California having the largest overall economy.
 

What do 90% of millionaires do?

The famed wealthy entrepreneur Andrew Carnegie famously said more than a century ago, “Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined.

Where is the safest place for millionaires to live?

The United Arab Emirates, particularly Dubai and Abu Dhabi, has emerged as one of the most popular destinations for millionaire migration. The UAE's cities rank among the world's safest—street crime is remarkably rare, with homicide rates comparable to Singapore (about 0.5 per 100,000).

Who owns 90% of America's wealth?

The top 10% own 87.2%, and the bottom half owned 1.1%. Corporate equities and real estate facilitated the accumulation of wealth for baby boomers. In 2024, the Silent Generation and baby boomers represented 25% of the population, but held 65% of all wealth in the US.

Who is the US No. 1 billionaire?

U.S. the richest people in America 2025

As of April 2025, Elon Musk was estimated as the wealthiest person in the United States with a net worth of around 342 billion dollars.

Where are American millionaires moving to?

Australia. Australia is consistently a top new country for high-net-worth individuals. In 2023, it attracted around 5,200 new millionaires. The country's appeal lies in its political stability, high standard of living, and world-class healthcare and education systems.

What jobs create the most millionaires?

The top careers for millionaires, according to a large study by Ramsey Solutions, include Engineer, Accountant, Teacher, Management, and Attorney, emphasizing that wealth often comes from discipline and planning rather than just high income or inheritance, with many millionaires never earning six figures annually. Other common fields include software development, finance, healthcare (doctors, pharmacists), and sales. 

Who will be the 1st trillionaire?

While no one is a trillionaire yet, Elon Musk is widely projected to be the first, potentially by 2027, driven by his stakes in Tesla, SpaceX, and X, with some forecasts suggesting SpaceX's potential IPO could significantly accelerate this. Jeff Bezos and Jensen Huang (Nvidia) are also in contention, but Musk's diverse and rapidly growing ventures place him at the forefront, with a major Tesla pay package potentially adding to his net worth, notes PBS News and Yahoo Finance.
 

Who are the richest families in the US?

America's richest families, consistently topped by the Walton family (Walmart), followed by the Mars family (candy) and Koch family (energy), derive immense wealth from retail, food, and diversified industries, with other major dynasties including the Cargill-MacMillans, Johnsons, and Pritzker family, often holding fortunes exceeding tens of billions through private and public companies.
 

How do US billionaires avoid paying taxes?

Billionaires often employ the “buy, borrow, die” strategy to avoid income and capital gains taxes. First, they acquire appreciating assets like stocks or real estate. Instead of selling these assets when they need cash (which would trigger capital gains tax), they borrow against them at favorable interest rates.

What is the cheapest state to live in?

The least expensive states to live in consistently include Mississippi, West Virginia, Arkansas, Oklahoma, and Alabama, primarily due to significantly lower housing costs, affordable groceries, utilities, and overall lower cost of living indexes compared to the national average. Mississippi often holds the top spot for lowest overall cost, driven by very cheap housing, while West Virginia excels in housing affordability and transportation, and Arkansas offers a balance with low insurance and healthcare costs. 

What states have no state income tax?

As of 2025, there are nine states that don't collect any state income tax: Alaska, Florida, Nevada, South Dakota, New Hampshire, Tennessee, Texas, Washington, and Wyoming.

How to turn $10,000 into $100,000 quickly?

To turn $10k into $100k fast, focus on high-growth active strategies like e-commerce, flipping, or starting an online business (courses, digital products), as traditional investing takes years; these methods demand significant time, skill, and risk, but offer quicker scaling by leveraging your work and capital for exponential growth, though get-rich-quick schemes are scams, and realistic timelines often involve years even with aggressive strategies. 

What job makes $1,000,000 a year?

Entrepreneurship, Healthcare and CEOs

About 1% of U.S. small business owners, roughly 300,000, achieve this annually, per IRS data. Healthcare, especially highly specialized medicine, enables seven-figure incomes, with top neurosurgeons and cardiac surgeons often exceeding $1 million in private practice.

Are millionaires born or made?

9 out of 10 millionaires are self made. 88% to be exact. They weren't born with it, they didn't inherit it.