As the 2020 election has brought income inequality to the forefront of American politics, billionaires are under scrutiny across the nation. Every state has residents worth hundreds of millions, if not billions, of dollars. Each state is home to at least one person worth $300 million or more, and 44 states have at least one billionaire.
To determine the richest person in every state, 24/7 Wall St. compiled data from Forbes’ Real Time Billionaires list. Data on residency and net worth came from the list, which is updated regularly to reflect changes in stock prices and private company valuations. Data is current as of Jan. 13, 2020. For states that have no billionaire, information on the richest person came from the Forbes 400 and the Forbes list of the Richest Person in Every State.
While many of the richest people in every state inherited their fortune, most could be considered self-made, either through successful investments or founding major companies. While creating a thriving business is never easy, some entrepreneurs on this list had a more favorable business climate than others simply because of where they were located. These are the best (and worst) states for business.
Sponsored: Find a Qualified Financial Advisor:
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.