Have you ever wondered where the richest people in America call home?
A new study by Delia Law shows that nearly one in four U.S. billionaires live in just one state — and it’s probably not the one you’re thinking!
Let’s take a look at where billionaires are settling down and why these states are their favorite places.
California: Home of the Billionaires
California is the number one state for billionaires, with 186 living there — that’s almost 25% of all billionaires in America.
Even though California has some of the highest taxes in the country (including a special tax on houses over $5 million!), billionaires still love it.
Why?
California is the center for tech giants and the entertainment industry.
Silicon Valley is full of tech billionaires like Mark Zuckerberg and Larry Page, while Hollywood attracts stars and media moguls.
Although California recently rejected a proposed wealth tax, the debate about taxing the rich continues.
New York: Big Money in the Big Apple
New York comes in second, with 135 billionaires — about 18% of the national total.
New York’s real estate is insanely expensive, and billionaires are happy to pay for luxury living.
There’s even a “mansion tax” on homes priced over $1 million — and in Manhattan, that doesn’t even get you a big place!
The most expensive property sold in New York history went for $238 million!
But while billionaires enjoy the glamor, everyday New Yorkers struggle with one of the highest living costs in the country.
Florida: A Tax-Free Paradise
Florida ranks third with 78 billionaires (about 10% of U.S. billionaires).
The reason? Florida doesn’t charge state income tax, inheritance tax, or estate tax — so billionaires can keep more of their money!
Places like West Palm Beach have seen a 90% increase in millionaires over the past decade.
Even Jeff Bezos bought property in Miami.
Still, some critics say Florida’s tax system hurts regular workers more than the rich.
Texas: The New Billionaire Hotspot
Texas is in fourth place, with 73 billionaires (almost 10%).
Texas has no state income tax, which is a huge draw.
Elon Musk even moved some of his companies to Austin!
But there’s a downside: everyday Texans pay a bigger share of their income in taxes compared to the state’s billionaires.
Even though billionaires create jobs and invest money, not everyone benefits equally.
Full List: Where U.S. Billionaires Live
Here’s the full ranking by state:
| Rank | State | Number of Billionaires | % of U.S. Billionaires |
|---|---|---|---|
| 1 | California | 186 | 24.83% |
| 2 | New York | 135 | 18.02% |
| 3 | Florida | 78 | 10.41% |
| 4 | Texas | 73 | 9.75% |
| 5 | Illinois | 23 | 3.07% |
| 6 | Massachusetts | 22 | 2.94% |
| 7 | Georgia | 18 | 2.40% |
| 7 | Pennsylvania | 18 | 2.40% |
| 9 | Nevada | 17 | 2.27% |
California, New York, Florida, and Texas are the top spots where billionaires live today.
Some move for business, others for lower taxes — but one thing is clear: these states are full of big money.
While billionaires enjoy the benefits, these trends also highlight the growing gap between the wealthy and everyday Americans.
SOURCE
