Banking, finance, and taxes

Every State's City With The Most Billionaires

24/7 Wall St. Staff

Published: May 8, 2024 8:37 am

From booming tech hubs to established family dynasties, many factors influence where billionaires choose to live. Out of the estimated 2,640 billionaires in the world, 754 live in the United States, the most of any country. While there are no billionaires in six U.S. states, the other 44 states are home to at least one extremely wealthy person — and often many more. California has the most billionaires at 178, followed by New York state with 128 billionaires, and Florida with 94 billionaires living in the state. 

Although California has the most billionaires overall, the U.S. city with the most billionaires is New York City, which is home to 99. It’s unsurprising that their combined net worth is also the highest of any other U.S. city, reaching an impressive $611 billion. (Also see, America’s 50 richest billionaires and when they got that way.)

To find the city in every state with the most billionaires, 24/7 Wall St. referenced Forbes World’s Billionaire List — The Richest in 2023. The list, Forbes explains, “is a snapshot of wealth using stock prices and exchange rates from March 10, 2023,” adding that some people have become richer or poorer within days of publication. In some states, two or more cities have the same number of billionaires. In such cases, we broke ties by the combined wealth of billionaires in each city. All data is from Forbes.

Similar to New York City — the world’s financial capital — cities often attract billionaires for distinct reasons. San Francisco is close to Silicon Valley — where countless tech companies began — making it a popular location with 37 billionaires. Family dynasties also play a role in some cities. Bentonville, AR, is the home of two Walton billionaires (Walmart), and Boston, MA, is the home of two Johnson billionaires (Fidelity Investments). (On the flip side, these are famous-billionaires-who-lost-everything.)

There is often a correlation between the wealthiest person in the state and the city with the most billionaires. New York City, for example, is home to Michael Bloomberg, a businessman and the city’s former mayor. Bloomberg is the richest person in New York City and New York State, ranking seventh nationwide with a net worth estimated at $94 billion (as of March).

However, this trend isn’t universal. Elon Musk, the CEO of Tesla, lives in Austin, TX, and is the richest person in the U.S. Though Austin is the third-highest number of billionaires in the state (with 12 billionaires), it still falls behind Dallas (20 billionaires) and Houston (14 billionaires).

Why Does This Matter?

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Billionaires don’t just settle down anywhere. They choose their homes according to a complex web of various factors, from business opportunities and tax regulation to political influence and lifestyle. This article explores the geographic distribution of America’s billionaires and which cities have the most in each state. Understanding these trends sheds light on the financial ecosystems of these areas, the potential political clout billionaires may have in certain regions, and the overall health of industries that may cater to immense wealth.

Alabama: Abbeville

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Jimmy Rane lives in Abbeville and is the only billionaire residing in Alabama. He has a net worth of $1.2 billion.

Alaska: No billionaires in state

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There are no billionaires in Alaska.

Arizona: Phoenix

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There are 12 billionaires in Arizona. Five live in Phoenix with a total net worth of $17.4 billion. Mark Shoen is the wealthiest person in Phoenix at $4.9 billion. Paradise Valley follows Phoenix with four billionaires, whose combined net worth is $7.4 billion.

Arkansas: Bentonville

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There are six billionaires in Arkansas. Two live in Bentonville with a total net worth of $116.4 billion. Jim Walton is the wealthiest person in Bentonville at $58.8 billion. Fayetteville follows Bentonville with two billionaires, whose combined net worth is $6.4 billion.

California: San Francisco

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There are 178 billionaires in California. 37 live in San Francisco with a total net worth of $114.2 billion. Brian Chesky is the wealthiest person in San Francisco at $79.2 billion. Las Angeles follows Phoenix with 34 billionaires, whose combined net worth is $115.5 billion. 

Colorado: Denver

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There are 13 billionaires in Colorado. Five live in Denver with a total net worth of $18.4 billion. Philip Anschutz is the wealthiest person in Denver at $10.9 billion. Aspen follows Denver with two billionaires, whose combined net worth is $2.5 billion. 

Connecticut: Greenwich

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There are 14 billionaires in Connecticut. Nine live in Greenwich with a total net worth of $57.0 billion. Ray Dalio is the wealthiest person in Greenwich at $19.1 billion. Darien follows Greenwich with two billionaires, whose combined net worth is $11.2 billion. 

Delaware: No billionaires in state

Delaware (CC BY 2.0) by Michele Dorsey Walfred

There are no billionaires in Delaware.

Florida: Palm Beach

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There are 94 billionaires in Florida. 21 live in Palm Beach with a total net worth of $104.3 billion. Thomas Peterffy is the wealthiest person in Palm Beach at $35.0 billion. Miami follows Palm Beach with 10 billionaires, whose combined net worth is $60.6 billion. 

Georgia: Atlanta

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There are 17 billionaires in Georgia. 16 live in Atlanta with a total net worth of $67.9 billion. Jim Kennedy is the wealthiest person in Atlanta at $8.4 billion. Hampton follows Atlanta with one billionaire, whose net worth is $6.6 billion. 

Hawaii: Lanai

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There are two billionaires in Hawaii. The wealthiest person in the state, Larry Ellison, lives in Lanai at $107.0 billion.  Honolulu follows Lanai with one billionaire, whose net worth is $8.80 billion. 

Idaho: Idaho Falls

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Frank Vandersloot lives in Idaho Falls and is the only billionaire residing in Idaho. He has a net worth of $3.1 billion. 

Illinois: Chicago

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There are 24 billionaires in Illinois. 14 live in Chicago with a total net worth of $64.4 billion. Lukas Walton is the wealthiest person in Chicago at $21.2 billion. Highland Park follows Chicago with three billionaires, whose combined net worth is $7.0 billion. 

Indiana: Bloomington

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There are three billionaires in Indiana.  Carl Cook, the wealthiest person in the state, lives in Bloomington at $10.2 billion. Carmel follows Bloomington with one billionaire whose net worth is $3.9 billion.

Iowa: Adel

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Harry Stine lives in Adel and is the only billionaire in Iowa. He has a net worth of $7.4 billion.

Kansas: Wichita

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There are two billionaires in Kansas. The wealthiest person in the state, Charles Koch, lives in Wichita at $59.0 billion.  Leawood follows Wichita with one billionaire, whose net worth is $4.2 billion.

Kentucky: Lexington

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Tamara Gustavson lives in Lexington and is the only billionaire in Kentucky. She has a net worth of $7.1 billion.

Louisiana: New Orleans

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Gayle Benson lives in New Orleans and is the only billionaire in Louisiana. She has a net worth of $4.7 billion.

Maine: Scarborough

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Susan Alfond lives in Scarborough and is the only billionaire in Maine. She has a net worth of $2.5 billion.

Maryland: Potomac

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There are 10 billionaires in Maryland. Two live in Potomac with a total net worth of $10.4 billion. Mitchell Rales is the wealthiest person in Potomac at $6.5 billion. Bethesda follows Potomac with two billionaires, whose combined net worth is $5.3 billion. 

Massachusetts: Boston

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There are 21 billionaires in Massachusetts. 10 live in Boston with a total net worth of $36.4 billion. Edward Johnson IV is the wealthiest person in Boston at $21.6 billion. Brookline follows Boston with three billionaires, whose combined net worth is $13.5 billion. 

Michigan: Grand Rapids

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There are 10 billionaires in Michigan. Three live in Grand Rapids with a total net worth of $13.8 billion. Doug Meijer is the wealthiest person in Grand Rapids at $18.0 billion. Bloomfield Hills follows Grand Rapids with two billionaires, whose combined net worth is $7.2 billion. 

Minnesota: Mankato

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There are five billionaires in Minnesota. The wealthiest person in the state, Glen Taylor, lives in Mankato at $2.7 billion. St. Paul follows Mankato with one billionaire whose net worth is $1.6 billion. 

Mississippi: Hattiesburg

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There are two billionaires in Mississippi, and both live in Hattiesburg. The wealthiest person in Hattiesburg is James Duff at $2.3 billion.  The total billionaire net worth in Hattiesburg is $4.6 billion. 

Missouri: St. Louis

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There are seven billionaires in Missouri. Six live in St. Louis with a total net worth of $21.3 billion. Pauline Macmillan Keinath is the wealthiest person in St. Louis at $8.3 billion. Springfield follows St. Louis with one billionaire whose net worth is $8.3 billion. 

Montana: Missoula

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There are four billionaires in Montana. Two live in Missoula with a total net worth of $8.4 billion. Dennis Washington is the wealthiest person in Missoula at $6.4 billion. Bozeman and Livingston have one billionaire each, whose combined net worth is $7.8 billion. 

Nebraska: Omaha

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There are three billionaires in Nebraska. Two live in Omaha with a total net worth of $108.5 billion. Warren Buffet is the wealthiest person in Omaha at $106.0 billion. Kearney follows Omaha with one billionaire whose net worth is $1.4 billion. 

Nevada: Las Vegas

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There are 18 billionaires in Nevada. 11 live in Las Vegas with a total net worth of $56.8 billion. Miriam Adelson is the wealthiest person in Las Vegas at $35.0 billion. Reno follows Las Vegas with three billionaires, whose combined net worth is $10.9 billion. 

New Hampshire: Keene

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Rick Cohen lives in Keene and is the only billionaire living in New Hampshire. He has a net worth of $9.6 billion.

New Jersey: Saddle River

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There are five billionaires in New Jersey. One lives in Saddle River with a total net worth of $7.8 billion. Millburn follows Saddle River with one billionaire whose net worth is $6.8 billion. 

New Mexico: No billionaires in state

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There are no billionaires in New Mexico.

New York: New York City

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There are 128 billionaires in New York. 99 live in New York City with a total net worth of $611.0 billion. Michael Bloomberg is the wealthiest person in New York City at $94.5 billion. Oyster Bay follows New York City with two billionaires, whose combined net worth is $6.2 billion. 

North Carolina: Cary

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There are five billionaires in North Carolina. Three live in Cary with a total net worth of $15.8 billion. James Goodnight is the wealthiest person in Cary at $7.4 billion. Greensboro follows Cary with one billionaire whose net worth is $2.9 billion. 

North Dakota: No billionaires in state

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There are no billionaires in North Dakota.

Ohio: Cleveland

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There are seven billionaires in Ohio. Three live in Cleveland with a total net worth of $3.3 billion. Nancy Lerner is the wealthiest person in Cleveland at $1.1 billion. New Albany follows Cleveland with one billionaire whose net worth is $6.0 billion. 

Oklahoma: Oklahoma City

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There are six billionaires in Oklahoma. Three live in Oklahoma City with a total net worth of $44.3 billion. Harold Hamm is the wealthiest person in Oklahoma City at $18.5 billion. Tulsa follows Oklahoma City with two billionaires, whose combined net worth is $16.5 billion. 

Oregon: Hillsboro

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There are three billionaires in Oregon. The wealthiest, Phil Knight, lives in Hillsboro at $45.1 billion. Portland follows Hillsboro with one billionaire whose net worth is $2.3 billion. 

Pennsylvania: Philadelphia

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There are 19 billionaires in Pennsylvania. Three live in Philadelphia with a total net worth of $28.5 billion. Victoria Mars is the wealthiest person in Philadelphia at $9.8 billion. Bryn Mawr follows Philadelphia with two billionaires, whose combined net worth is $14.8 billion. 

Rhode Island: Providence

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Jonathan Nelson lives in Providence and is the only billionaire in Rhode Island. He has a net worth of $3.1 billion. 

South Carolina: Charleston

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There are two billionaires in South Carolina. Both live in Charleston with a total net worth of $7.1 billion. Robert Faith is the wealthiest person in Charleston at $5.2 billion.

South Dakota: Sioux Falls

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T. Denny Sanford lives in Sioux Falls and is the only billionaire in South Dakota. He has a net worth of $2.0 billion.

Tennessee: Nashville

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There are 12 billionaires in Tennessee. Three live in Nashville with a total net worth of $25.7 billion. Thomas Frist Jr. is the wealthiest person in Nashville at $20.2 billion. Franklin follows Nashville with three billionaires, whose combined net worth is $7.9 billion. 

Texas: Dallas

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There are 70 billionaires in Texas. 20 live in Dallas with a total net worth of $84.3 billion. Jerry Jones is the wealthiest person in Dallas at $180.0 billion. Houston follows with 14 billionaires, whose combined net worth is $73.2 billion. 

Utah: Provo

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There are six billionaires in Utah. Three live in Provo with a total net worth of $4.0 billion. Scott Watterson is the wealthiest person in Provo at $1.6 billion. Salt Lake City follows Provo with one billionaire whose net worth is $4.0 billion. 

Vermont: No billionaires in state

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There are no billionaires in Vermont.

Virginia: McLean

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There are eight billionaires in Virginia. Three live in McLean with a total net worth of $5.7 billion. William Conway Jr. is the wealthiest person in McLean at $3.6 billion. The Plains follows McLean with one billionaire whose net worth is $38.3 billion. 

Washington: Seattle

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There are 13 billionaires in Washington. 13 live in Seattle with a total net worth of $114.0 billion. Mackenzie Scott is the wealthiest person in Seattle at $35.7 billion. Medina follows Seattle with four billionaires, whose combined net worth is $229.7 billion. 

West Virginia: No billionaires in state

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There are no billionaires in West Virginia.

Wisconsin: Racine

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There are seven billionaires in Wisconsin. Three live in Racine with a total net worth of $17.4 billion. Helen Johnson Leipold is the wealthiest person in Racine at $14.4 billion. Eau Claire follows Racine with one billionaire whose net worth is $17.4 billion. 

Wyoming: Jackson

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There are seven billionaires in Wyoming. Four live in Jackson with a total net worth of $51.5 billion. John Mars is the wealthiest person in Jackson at $38.3 billion. Wilson follows Jackson with two billionaires, whose combined net worth is $6.9 billion.