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Wednesday, July 24, 2024

The place Do Billionaires Dwell within the US? Right here Are the Prime Cities


This text initially appeared on Enterprise Insider.

About 770 billionaires stay in america, in line with a brand new report on the world’s wealthiest cities from London-based consulting agency Henley & Companions.

There are only a handful of cities they like to name residence — or not less than park their non-public jets once they’re on the town.

Three of the 4 largest clusters of billionaires on the planet are basic US locations for the uberwealthy: New York Metropolis, Los Angeles, and the Bay Space, which incorporates the neighboring tech hubs of San Francisco and Silicon Valley. Almost 163 billionaires reside in these three scorching spots alone.

A few of America’s richest residents, although, select quieter cities for his or her residence bases.

Comparably smaller Seattle, Washington boasts 10 billionaire residents, whereas Boston, Massachusetts claims eight.

And considered one of America’s fastest-growing cities — Austin, Texas — has emerged as a comparatively new billionaire scorching spot, counting 9 as residents. Henley & Companions mentioned that “no state revenue tax and ample area” helps make the Texas capital a major vacation spot, particularly as tech titans like Elon Musk descend on the town.

Take a look at the complete record of the US cities the place probably the most billionaires stay.

9. Boston, Massachusetts

Boston skyline at sunset with yellow and red autumn trees

Boston, Massachusetts. DenisTangneyJr/Getty Pictures

The CEO of biotech and vaccine large Moderna, Stéphane Bancel, and founding father of on-line furnishings firm Wayfair, Niraj Shah, reside in Beantown, in line with Boston Journal.

Inhabitants: 675,647

Variety of billionaires: 8

Variety of high-net-worth people with wealth over $1 million: 41,700

Enhance in millionaires and billionaires from 2012 to 2022: 50%

8. Austin, Texas

Sunset over a state capitol building rotunda butting against a downtown skyline

Austin, Texas. dszc/Getty Pictures

Electrical-car billionaire Elon Musk, who’s a latest transplant to the Texas capital, mentioned on a podcast that his new hometown shall be “the largest boomtown America has seen in 50 years.

Inhabitants: 961,855

Variety of billionaires: 9

Variety of high-net-worth people with wealth over $1 million: 30, 500

Enhance in millionaires and billionaires from 2012 to 2022: 102%

7. Seattle, Washington

Seattle, Washington

Seattle, Washington. Sean Pavone/Getty Pictures

Starbucks CEO Howard Schultz calls the “Wet Metropolis” residence.

Inhabitants: 737,015

Variety of billionaires: 10

Variety of high-net-worth people with wealth over $1 million: 50,500

Enhance in millionaires and billionaires from 2012 to 2022: 68%

6. Miami, Florida

Miami Beach

Miami Seashore at night time. Buena Vista Pictures

Through the COVID-19 pandemic, Florida as a complete — and Miami particularly — lured finance and tech elites away from worse climate and better taxes in northern cities. Take billionaire hedge-funder Ken Griffin, who moved himself and his hedge fund Citadel to the Magic Metropolis from Chicago.

Inhabitants: 442,241

Variety of billionaires: 12

Variety of high-net-worth people with wealth over $1 million: 38,000

Enhance in millionaires and billionaires from 2012 to 2022: 75%

5. Houston, Texas

Traffic on a freeway in Houston, Texas in 2017.

Houston, Texas. Justin Sullivan/Getty Pictures

Individuals with fortunes buoyed by oil and pipeline firms, together with Jeffery Hildebrand and Richard Kinder, dominate Houston’s billionaire scene, in line with the Houston ABC affiliate.

Inhabitants: 2,304,580

Variety of billionaires: 20

Variety of high-net-worth people with wealth over $1 million: 98,500

Enhance in millionaires and billionaires from 2012 to 2022: 65%

4. Chicago, Illinois

A view from Montrose Harbor over Lake Michigan and Chicago skyline. Chicago, Illinois, United States, on October 14, 2022.

A bicyclist rides close to Lake Michigan with the Chicago skyline within the background. Beata Zawrzel/Getty Pictures

The chairman of Hyatt Motels, Thomas J. Pritzker, and a grandson of the Walmart founder, Lukas Walton, name the Windy Metropolis residence, in line with Chicago TV station WGN.

Inhabitants: 2,746,388

Variety of billionaires: 24

Variety of high-net-worth people with wealth over $1 million: 124,000

Enhance in millionaires and billionaires from 2012 to 2022: 24%

3. Los Angeles, California

Los Angeles at night

The downtown LA skyline. halbergman/Getty Pictures

California is residence to probably the most billionaires — not simply within the US, however on the planet, in line with Forbes. Los Angeles, particularly, is a scorching spot. Some billionaires there have names that gentle up Hollywood marquees, like director Steven Spielberg. Others choose to fly beneath the radar, like reclusive In-N-Out heiress Lyndsi Snyder.

Inhabitants: 10,014,009

Variety of billionaires: 42

Variety of high-net-worth people with wealth over $1 million: 205,400

Enhance in millionaires and billionaires from 2012 to 2022: 35%

2. New York Metropolis

Manhattan skyline from New Jersey at sunset, New York

The Manhattan skyline, with One World Commerce Middle on the heart. Getty Pictures

Former mayor and one-time presidential candidate Michael Bloomberg and Blackstone CEO Stephen Schwartzman are two notable billionaire New Yorkers.

Inhabitants: 8,804,190

Variety of billionaires: 58

Variety of high-net-worth people with wealth over $1 million: 340,000

Enhance in millionaires and billionaires from 2012 to 2022: 40%

1. The Bay Space, made up of San Francisco and Silicon Valley

San Francisco.

The downtown San Francisco skyline. Alexander Spatari/Getty Pictures

Tech’s explosion has made San Francisco and close by Silicon Valley the biggest cluster of billionaires within the US and the world. Meta’s Mark Zuckerberg, Alphabet’s Larry Web page, and Airbnb’s Brian Chesky all name the area residence.

Inhabitants: 7.7 million, in line with the San Francisco Chronicle

Variety of billionaires: 63

Variety of high-net-worth people with wealth over $1 million: 285,000

Enhance in millionaires and billionaires from 2012 to 2022: 68%

All inhabitants knowledge is from the US Census’ 2020 survey besides the place in any other case famous.

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