What states are rich moving to?

Wealthy individuals are moving to states with no or low income tax, warmer climates, and better affordability, with Florida, Texas, North Carolina, South Carolina, and Arizona being top destinations for high earners seeking financial and lifestyle benefits, according to recent SmartAsset studies. These states offer advantages like lower taxes (Florida, Texas, Tennessee, Washington) and booming job markets, attracting affluent families and young professionals from higher-tax states like California and New York.

What state are rich people moving to?

So where did all these affluent millennials go? Their top two destinations were Florida and Texas, both of which have no state income tax. "High-earning households have the most to gain when it comes to minimizing income taxes," the SmartAsset study notes.

Where are US millionaires moving to?

A new Henley & Partners World's Wealthiest Cities Report for 2025 found that both West Palm Beach and Miami surpassed New York City as the world's fastest-growing wealth hubs. West Palm saw a 112% increase in millionaire growth over the last decade, while Miami saw a 94% increase.

Where are millionaires relocating to?

The 10 Best Countries for Millionaire Migration. Currently, the countries attracting the most new millionaires are Australia, the United Arab Emirates (UAE), Singapore, the United States, and Switzerland.

What is the easiest state to become a millionaire in?

Key findings included that of all 50 states, Texas was the easiest state to build wealth in, with 0% personal income tax and an overall score of 8.23 out of 10. Alternatively, Montana, West Virginia and Idaho were among the hardest states to accumulate wealth.

The Worlds Richest People Are On The Move... What Are They Running From?

What state is financially best to live in?

States like Mississippi, West Virginia, and Arkansas consistently rank among the lowest in cost of living, with lower housing, healthcare, and daily expenses. These locations may appeal to retirees looking to stretch their income.

What job pays you $1,000,000 a year?

Healthcare, especially highly specialized medicine, enables seven-figure incomes, with top neurosurgeons and cardiac surgeons often exceeding $1 million in private practice. This is driven by demand for life-saving procedures, per a 2023 physician compensation study.

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.

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.

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.

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.
 

Are wealthy people leaving the US?

Beyond statistics, migration is intensifying. Almost 53 percent of American millionaires say they are considering leaving the country, rising to 64 percent among younger millionaires aged 18–29. Overall, the global investment migration market is now worth around US $100 billion.

What is the wealthiest city in America?

The wealthiest city in America depends on the metric, but New York City consistently ranks #1 for total private wealth, number of millionaires, and GDP, acting as the global finance hub, while the Bay Area (Silicon Valley) leads in tech wealth and billionaire density, and smaller suburbs like Sammamish, WA, or San Ramon, CA, often top lists for median household income.
 

What small town are millionaires moving to?

Truckee-Grass Valley, Calif.

And the long, snowy winters are perfect for the numerous ski resorts in the vicinity of Truckee and Grass Valley. Another appealing aspect of the area for millionaires: It's a straight shot down Interstate 80 to reach Sacramento, the state capital, and San Francisco.

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. 

Which state is worth moving to?

The study found the best states to move to are Utah, New Hampshire, Idaho and Virginia. According to the list, worst states to move to are California, Louisiana, New Mexico and Oregon.

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.
 

How many Americans have $2 million in the bank?

Only about 1.8% of U.S. households have $2 million or more in retirement savings, a figure from the Employee Benefit Research Institute (EBRI) using Federal Reserve data (2022 Survey of Consumer Finances). This places them in a very small minority, with even fewer (0.8%) reaching $3 million in retirement funds, highlighting that significant wealth accumulation for retirement is rare for most Americans. 

Where does Trump rank in wealth?

(In 2018, this was 766th in the world, 248th in the U.S. In 2019, this was 715th in the world, 259th in the U.S.) Bloomberg Billionaires Index listed Trump's net worth as $2.48 billion on May 31, 2018, and Wealth-X listed it as at least $3.8 billion on July 16, 2018.

What is considered ultra wealthy?

Being considered "ultra-wealthy," or an Ultra-High-Net-Worth Individual (UHNWI), generally means having a net worth of $30 million or more in investable assets, though some financial experts suggest $100 million is the new benchmark, with wealth managed across complex assets like real estate, private equity, and art, and focusing on legacy planning and philanthropy. 

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).

What are the happiest high-paying jobs?

Happiest careers that pay well often blend meaningful work, autonomy, and good income, with top contenders including Software Engineer, Physician/Surgeon, Data Scientist, Pilot, Firefighter, Physical Therapist, and Real Estate Agent, offering high satisfaction through creativity, helping others, or strong work-life balance with salaries often exceeding $100k+. Tech roles (Software Dev, Data Scientist), Healthcare (Surgeon, PT, Anesthesiologist), and roles offering flexibility (Real Estate Agent, Pilot) consistently appear as happy, high-paying options. 

Is it possible to get rich without a degree?

If you're not keen on climbing the corporate ladder, you can get rich without going to college ─ all it takes is some hard work, determination and leveraging your out-of-the-box mindset. Apple's Steve Jobs, Microsoft's Bill Gates and Facebook's (Meta's) Mark Zuckerberg became highly successful without college degrees.

What is the most common job for a millionaire?

Most millionaires come from professions like Engineering, Accounting, Management, Law, and Teaching, often building wealth through consistent planning and saving, not just high salaries, with many not even earning six figures annually; other top paths include Finance, Healthcare (Doctors/Surgeons), Tech (Software), and Entrepreneurship, focusing on creating businesses or managing investments, says Ramsey Solutions, Indeed.com, and Forbes.