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Texan trio tops America's rich list.

Texas is a playground for the rich. Houston, Dallas, Austin cradle a high number of millionaires. Meanwhile, billionaires like Elon Musk and Michael Dell also inhabit the Lone Star State.

Published June 12, 2024 at 9:49am by Alexis Simmerman

Millionaires and Billionaires Hiding in Plain Sight Across America

It's no secret that the U.S. is home to an abundance of millionaires and billionaires, with 5.5 million and 788, respectively. A recent report by Henley & Partners, analyzing data from New World Wealth, reveals some surprising concentrations of wealth across the nation.

The top cities for millionaires:

The Bay Area (San Francisco/Silicon Valley): approx. 1/13 are millionaires
Seattle: 1/14 are millionaires
NYC: 349,500 millionaires (approx. 1/24)
Houston: 90,900
Dallas: 68,600
Austin: 32,700

The rich get richer:
The top 1% of income earners in the U.S. held $44.5 trillion in 2023, with the top 20% seeing an increase in wealth since 1990. Meanwhile, the middle class has seen a decline, now holding just over 25%.

Texas吸引 billionaires:
Texas is home to many billionaires, possibly due to its lack of state income tax and large metro areas. Here are the richest:

Elon Musk ($187B)
Michael Dell ($99.5B)
Alice Walton ($79.7B)
Elaine Marshall ($25.5B)
Autry Stephens ($23.4B)

American billionaires on the rise:
According to Forbes, 265 new billionaires were added in 2024, with a record global total of 2,781. Taylor Swift and Magic Johnson are among the 67 new American billionaires.

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