25 Cities With Most Billionaires – 24/7 Wall St.
Despite its income inequality, the United States is an extremely wealthy country. This is reflected in the fact that the country leads the world in number of billionaires, by a long shot.
The backgrounds of the uber-rich vary, from rag-picking immigrants to the rich, to self-taught tycoons, to multi-generational wealth benefactors. The rapid growth of technological developments during the 1990s, along with the increase in commercial use of the Internet, probably explains the disproportionate presence of the technology industry on this golden list. Here is a list of cities in each state with the most billionaires.
While they may own a Hawaiian island retreat or a luxury “ranchsion” in Jackson Hole, MT, the billionaires on this list tend to be domiciled in urban areas. These 25 cities are home to billionaires sitting on staggering $ 2.28 trillion in wealth, led by New York City. The Bay Area, including Silicon Valley and San Francisco, is home to billionaires with more than $ 860 billion in wealth. Here is a list of the richest person is every state.
In some cases, a billionaire makes up more than half of that city’s total billionaire wealth. For example, the recent relocation to Texas of Tesla co-founder and SpaceX founder Elon Musk more than doubled the billionaire’s wealth in Austin.
It is important to note that net worth is related to the value of investments, which can fluctuate constantly, so the following data reflects a recent snapshot in time rather than current numbers. For example, in the midst of the current Covid-19 pandemic, Amazon boss Jeff Bezos experienced a big jump in his net worth.
Here is a list of the 25 cities with the most billionaires.