California, New York, Florida, and Texas together host more than 60 percent of the nation’s billionaires—a reflection of both population density and economic concentration

Top Four States by Billionaire Population

• California tops the list with roughly 186 billionaire residents, led by tech magnates concentrated in the Bay Area.
• New York comes in second with approximately 135 billionaires, underpinned by finance and investments.
• Florida and Texas follow with about 78–97 and 73 billionaires, respectively, buoyed by neighbors seeking tax advantages and entrepreneurship hubs.

National Distribution

As of early 2025, the United States is home to around 756–868 billionaires, depending on the data source, spread across 42 to 47 states . Only three states—Alaska, Delaware, and West Virginia—have no billionaire residents, highlighting regional disparities in wealth accumulation.

States with Only One Billionaire

Ten states—including Alabama, Idaho, Iowa, Kentucky, Maine, New Hampshire, New Mexico, North Dakota, Rhode Island, South Dakota and Vermont—host exactly one billionaire each, underscoring a far more modest ultra‑wealth presence in less populous or less economically diversified regions.

Key Insights

• High-density clusters: California and New York alone house more billionaires than most countries, with concentrations around technology, media, finance and real estate.
• Tax and lifestyle migration: Wealthy individuals relocating to Florida and Texas account for recent gains in billionaire counts there, attracted by favorable tax regimes and lower costs of living.
• Industry diversity: While tech dominates in California and Washington, finance rules in New York and Connecticut; retail, food and beverage and manufacturing contribute meaningfully in several Southern and Midwestern states.

Summary Table

Note: Estimates vary slightly by source.

Analytical Takeaways

• Geographic wealth concentration remains sharp, with four states accounting for a disproportionate share of billionaire residents.
• Economic factors and tax incentives are reshaping billionaire residency trends, particularly toward states such as Florida and Texas.
• In many states, especially rural or less populous ones, billionaire presence remains rare or singular—offering a stark contrast with urban and coastal wealth hubs.

These findings, based on Forbes and World Population Review data accessed by Visual Capitalist, paint a clear picture of wealth concentration in America as of early 2025.\

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