Where The Billionaires Actually Settle In
While billionaires appear in dozens of states, the vast majority of extreme wealth funnels into a surprisingly small number of places. In 2025, residents of 38 states and Washington, DC made the Forbes 400 list, but more than half of the total $6.6 trillion represented lives in just a handful of states. Ranked from tenth to first, these are the states that America’s one percent clearly prefers—along with the single richest resident anchoring each one.
U.S. Air Force / Trevor Cokley, Wikimedia Commons
Michigan
Michigan reenters the top tier after briefly falling off the list, now home to eight members of the Forbes 400 worth a combined $80.1 billion. While it doesn’t boast the flash of coastal tech hubs, Michigan’s wealth runs deep in finance, real estate, and legacy retail, especially around Detroit and its surrounding suburbs.
Michigan’s Richest Resident
Daniel Gilbert, founder of Rocket Mortgage, remains the state’s wealthiest resident with a net worth of $26.7 billion. He’s followed by United Wholesale Mortgage CEO Mat Ishbia at $9.5 billion. The Meijer brothers—Doug, Hank, and Mark—round out the upper tier, each worth $6.9 billion thanks to the regional supermarket empire their family built.
Massachusetts
Massachusetts holds steady with nine Forbes 400 members and nearly $99 billion in combined wealth. Much of that fortune is tied to long-established financial institutions, asset management firms, and professional sports ownership, with Boston serving as the state’s economic anchor.
Massachusetts’ Richest Resident
Abigail Johnson, CEO of Fidelity Investments, leads the state with a $35 billion fortune. Her siblings Edward Johnson IV and Elizabeth Johnson also rank among the state’s wealthiest. Other notable figures include Patriots owner Robert Kraft and software entrepreneur Alan Trefler, reinforcing the state’s blend of finance, sports, and enterprise tech wealth.
Village Global, Wikimedia Commons
Nevada
Nevada ties Massachusetts with nine Forbes 400 members, though its total wealth is higher at $111.7 billion. The state’s billionaire profile reflects its roots—gaming, hospitality, and executives who favor Nevada’s tax structure and business-friendly environment.
Rmvisuals, CC BY-SA 4.0, Wikimedia Commons
Nevada’s Richest Resident
Miriam Adelson, widow of casino magnate Sheldon Adelson, is Nevada’s wealthiest resident with $37.9 billion. She’s joined by Walmart heiress Nancy Walton Laurie and software pioneer David Duffield, whose fortunes show just how diverse Nevada’s billionaire base has become.
Georgia
Georgia is home to 10 Forbes 400 members worth $93.2 billion, with much of that wealth centered in Atlanta. The state’s billionaire class leans heavily toward consumer brands, logistics, and real estate, with family wealth playing an outsized role.
Georgia’s Richest Residents
Dan Cathy, Bubba Cathy, and Trudy Cathy White sit atop Georgia’s wealth rankings, each worth $13.7 billion thanks to Chick-fil-A. Close behind is Home Depot cofounder Arthur Blank, whose fortune has also fueled extensive philanthropic work across Atlanta.
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Pennsylvania
Pennsylvania’s billionaire count ticked up to 11 this year, with total wealth reaching $141.8 billion. Much of the state’s wealth is concentrated in finance, trading firms, and legacy consumer brands, with Philadelphia as the central hub.
Pennsylvania’s Richest Resident
Jeff Yass, cofounder of Susquehanna International Group, leads the state with a $65.7 billion net worth. His business partner Arthur Dantchik follows, alongside a mix of sports owners, retail executives, and heirs tied to some of the most recognizable brands in America.
OtoPhuploader, Wikimedia Commons
Illinois
Illinois remains firmly in the top five, hosting 16 Forbes 400 members worth $132.8 billion combined. Chicago anchors nearly all of this wealth, serving as a crossroads for finance, retail, and inherited fortunes. The state stands out for how closely political power and extreme wealth intersect.
Illinois’ Richest Resident
Lukas Walton, heir to the Walmart fortune, is Illinois’ wealthiest resident at $39.8 billion. Governor JB Pritzker also ranks among the state’s billionaires, making Illinois one of the rare states where a sitting governor is part of the ultra-wealthy class.
Gage Skidmore from Surprise, AZ, United States of America, Wikimedia Commons
Texas
Texas holds 43 spots on the Forbes 400, with its residents now worth a combined $1 trillion. Business-friendly policies, booming tech hubs, and expanding aerospace and energy sectors continue to draw the ultra-wealthy to cities like Austin, Dallas, and Houston.
75316serk, CC BY-SA 4.0, Wikimedia Commons
Texas’ Richest Resident
Elon Musk tops the list with a staggering $428 billion fortune. Since relocating from California, he’s expanded SpaceX operations, shifted Tesla’s headquarters, and even founded a new town. Texas is also home to Alice Walton, the richest woman in America, further cementing the state’s elite status.
Tesla Owners Club Belgium, Wikimedia Commons
Florida
Florida slips slightly in ranking but still boasts 49 Forbes 400 members worth $716.3 billion. The state remains one of the most popular destinations for billionaire relocations, driven by tax advantages and a booming luxury real estate market. Miami, in particular, has transformed into a global wealth hub almost overnight.
Florida’s Richest Resident
Jeff Bezos leads Florida’s billionaire class with a $241 billion fortune after moving from Seattle. He’s followed by Citadel founder Ken Griffin, with athletes and tech entrepreneurs filling out the state’s growing roster of ultra-wealthy residents.
Seattle City Council from Seattle, Wikimedia Commons
New York
New York climbs back into second place with 57 Forbes 400 members worth nearly $691 billion. About two-thirds of the state’s billionaires built their fortunes in finance and investments, reinforcing New York’s role as a global capital of money management. Despite high costs and taxes, the state’s financial gravity remains unmatched.
Dietmar Rabich, Wikimedia Commons
New York’s Richest Resident
Michael Bloomberg remains New York’s wealthiest resident at $109 billion. Media, finance, and fashion fortunes continue to define the state’s billionaire profile, with names that have shaped global industries for decades.
Gage Skidmore from Peoria, AZ, United States of America, Wikimedia Commons
California
California sits alone at the top, home to 85 Forbes 400 members worth a combined $1.7 trillion. The state accounts for more than a quarter of all wealth on the list, powered by technology, entertainment, and innovation at a scale no other state can match. It’s not just the richest state in America—it’s one of the richest economic regions on Earth.
Quintin Soloviev, Wikimedia Commons
California’s Richest Resident
Oracle founder Larry Ellison leads California with a $276 billion fortune, overtaking Mark Zuckerberg. The state also hosts tech leaders like Jensen Huang and Larry Page, alongside entertainment icons whose influence extends far beyond Hollywood.
Oracle Corporate Communications, Wikimedia Commons
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