Nearly every state is now home to at least one billionaire, as the collective wealth of America’s richest people has risen to a staggering $1.6 trillion.
Analysis by Forbes has found that 47 states are home to at least one member of the ten-figure club, and three of them have more than 100 billionaires among their residents.
The collective fortunes of the country’s richest have increased by $100 billion since last year.
As in 2023, Alaska, Delaware and West Virginia are the only states without billionaires.
But rising stocks and cross-country moves mean there have been some significant changes in state rankings of the country’s ultra-wealthy.
A Forbes analysis has found that 47 states are home to at least one member of the ten-figure club, and three of them have more than 100 billionaires among their residents. Scroll down to a list showing the richest person in each state.
Forbes found that in the last year, seven states have seen their richest person change.
Jeff Bezos announced in November 2023 that he would leave Washington and return to Florida to be closer to his parents and rocket launches at his Blue Origin space company.
Leaving his former home in Seattle and relocating to Miami makes him the state’s richest billionaire, and it also came with a major tax benefit, which could help him save more than $600 million in taxes over the next year.
Florida has no state income tax or capital gains tax, while Washington introduced a 7 percent capital gains tax on stock or bond sales of more than $250,000 in 2022.
The founder of Amazon, with a fortune of $194 billion, has already purchased two properties on the ultra-exclusive Indian Creek Island, nicknamed the “billionaire bunker.”
His departure also means Bill Gates is now the richest person in Washington, despite the Microsoft co-founder falling in the world wealth rankings to number nine with a fortune of $128 billion.
Mark Zuckerberg has also surpassed former Alphabet CEO Larry Page as California’s richest billionaire.
The 39-year-old has seen his wealth rise over the past year, as Meta shares have almost tripled in value.
Meta entered 2023 into what it describes as a “year of efficiency,” which placed heavy emphasis on cost reduction and involved laying off thousands of workers.
Zuckerberg’s $177 billion fortune now puts him just behind Elon Musk, who remains the richest person in Texas.
The Amazon founder’s move (pictured with fiancee Lauren Sanchez) from his former home in Seattle to Miami makes him Florida’s richest billionaire.
Mark Zuckerberg has overtaken former Alphabet CEO Larry Page as California’s richest billionaire
In Louisiana, Forbes said, a new billionaire’s estimated $9.1 billion fortune catapulted him onto the list.
Todd Graves, founder and CEO of the fried chicken fast-food chain Raising Cane’s, took over from businesswoman Gayle Benson, owner of the New Orleans Saints of the National Football League and the New Orleans Pelicans of the National Football League. National Basketball.
In Hawaii, eBay founder Pierre Omidyar has risen to the top spot with an estimated fortune of $6.3 billion.
In Arizona, Ernest Garcia II, owner of used car dealership DriveTime Automotive, surpassed Los Angeles Angels owner Arturo Moreno to become the state’s richest billionaire.
Todd Graves, founder and CEO of fried chicken fast-food chain Raising Cane’s, is now Louisiana’s richest resident.
And in Connecticut, Steve Cohen, founder of the hedge fund firm Point72 Asset Management, replaced Ray Dalio, founder of Bridgewater Associates, the world’s largest hedge fund firm, as the state’s richest resident.
Despite the changes, familiar faces remain in many states.
Veteran investor Warren Buffett, worth $133 billion, remains Nebraska’s richest resident.
Meanwhile, in New York, Michael Bloomberg remains the richest person in the state thanks to his eponymous media empire, with a fortune of $106 billion.
The Empire State is home to 139 billionaires and Florida has 107.
California, however, comes in first place with a staggering 197 billionaire residents.