Money
Mapped: The Wealthiest Billionaire in Each U.S. State in 2022
Check out the latest 2023 update of the richest person in each state.
Mapped: The Wealthiest Billionaire in Each U.S. State in 2022
Check out the latest 2023 update of the richest person in each state.
The U.S. is home to over a quarter of the world’s billionaires, representing about 720 of the roughly 2,700 that exist globally.
While the country has more billionaires than any other, the U.S. share of global billionaires has actually been shrinking in recent decades. In 2010, about 40% of the world’s billionaire population lived in America—and today, that number is closer to 27%.
But who is the richest billionaire in every American state in 2022? This graphic uses data from Forbes to find out.
The Richest of the Rich
The billionaires on this list have made their fortune in a wide range of industries, including tech, automobiles, asset management, and video games.
Jeff Bezos and Elon Musk have had their relative fortunes fluctuate in tandem with Amazon and Tesla stock prices in recent years. The volatility in share prices has meant they’ve each carried the title of the world’s wealthiest person at varying points.
Rank | Name | Net Worth ($B) | Residence (State) |
---|---|---|---|
#1 | Elon Musk | 272.0 | Texas |
#2 | Jeff Bezos | 167.6 | Washington |
#3 | Larry Ellison | 109.5 | Hawaii |
#4 | Warren Buffett | 105.2 | Nebraska |
#5 | Larry Page | 103.8 | California |
#6 | Michael Bloomberg | 76.8 | New York |
#7 | Jim Walton | 62.7 | Arkansas |
#8 | Charles Koch | 57.9 | Kansas |
#9 | Phil Knight & Family | 44.8 | Oregon |
#10 | Jacqueline Mars | 33.4 | Virginia |
#11 | John Mars | 33.4 | Wyoming |
#12 | Miriam Adelson | 28.5 | Nevada |
#13 | Ken Griffin | 27.3 | Illinois |
#14 | Ray Dalio | 22.0 | Connecticut |
#15 | Daniel Gilbert | 21.8 | Michigan |
#16 | Abigail Johnson | 21.5 | Massachusetts |
#17 | Thomas Peterffy | 21.3 | Florida |
#18 | Harold Hamm & family | 20.1 | Oklahoma |
#19 | John Menard, Jr. | 18.6 | Wisconsin |
#20 | Thomas Frist, Jr. & family | 18.2 | Tennessee |
#21 | Jeff Yass | 12.0 | Pennsylvania |
#22 | Philip Anschutz | 11.1 | Colorado |
#23 | Carl Cook | 11.0 | Indiana |
#24 | Bernard Marcus | 8.7 | Georgia |
#25 | Pauline MacMillan Keinath | 8.6 | Missouri |
#26 | Tamara Gustavson | 8.6 | Kentucky |
#27 | Tim Sweeney | 7.6 | North Carolina |
#28 | Harry Stine | 6.8 | Iowa |
#29 | Dennis Washington | 6.6 | Montana |
#30 | John Overdeck | 6.5 | New Jersey |
#31 | Stephen Bisciotti | 5.9 | Maryland |
#32 | Les Wexner & family | 5.7 | Ohio |
#33 | Ernest Garcia, II. | 5.3 | Arizona |
#34 | Gayle Benson | 3.9 | Louisiana |
#35 | T. Denny Sanford | 3.4 | South Dakota |
#36 | Frank VanderSloot | 3.0 | Idaho |
#37 | Matthew Prince | 2.9 | Utah |
#38 | Susan Alfond | 2.5 | Maine |
#39 | Glen Taylor | 2.4 | Minnesota |
#40 | Jonathan Nelson | 2.2 | Rhode Island |
#41 | James Duff | 2.0 | Mississippi |
#42 | Anita Zucker | 1.8 | South Carolina |
Jeff Bezos previously had the top spot but now has a net worth of $162 billion. While he’s stepped down from the CEO role and has sold large amounts of Amazon stock, his ranking will likely still tie in closely to the company’s performance for the foreseeable future.
Elon Musk is the richest billionaire in Texas, however, he only recently became a resident of the state. His move is part of a broader migration trend occurring in the U.S. today, where California is experiencing a population decline for the first time ever. Last year, 68% of counties in California saw population declines, and data from the U.S. Census Bureau suggests many of these Americans opted for states like Florida and Texas.
Region | Net Domestic Migration 2019-2020 | Net Domestic Migration 2020-2021 |
---|---|---|
Northeast | -315,166 | -399,638 |
Midwest | -207,685 | -123,103 |
South | +503,502 | +657,682 |
West | 19,349 | -144,941 |
Between 2019 to 2021, the South is the only region that saw positive net flows of over a million people, while the Northeast, Midwest, and West all saw declines.
Warren Buffett, the “Oracle of Omaha,” is the richest billionaire in Nebraska by a wide margin, with a net worth of $105 billion. Despite the stock market experiencing one of its worst starts to the year historically, Buffett’s net worth has been surprisingly steady.
This might be due to value assets rotating back into fashion in favor of growth and tech themes this year. Also, historically Buffett has been bullish in environments where fear and negative sentiment reflect through lower asset prices.
Female Billionaires
There are eight different women that hold the title of richest billionaire in their state.
Tamara Gustavson is Public Storage’s largest shareholder, with an 11% stake in the company, valued at $60 billion on the New York Stock Exchange. In addition, she acts as the director of the company and is the daughter of founder B. Wayne Hughes, who recently passed away last year. Incredibly, Public Storage operates more than 170 million square feet of real estate.
Abigail Johnson and Jacqueline Mars were featured on our infographic showing the richest women in the world last year. Johnson has served as CEO of top asset manager Fidelity, which her grandfather Edward Johnson founded. And Jacqueline Mars is part of the Mars family, which owns the world’s largest candy maker.
Big Disparities
The U.S. wealth landscape is one of extremes. On one end, there are ample opportunities to earn substantial wealth, but on the other, wealth inequality and income disparity are higher than many other peer countries.
This productivity and hustle-oriented culture suggests that while there isn’t a billionaire in every state in 2022, it seems like it’s only a matter of time before the likes of Alabama, New Mexico, and North Dakota add a billionaire to their ranks.
Money
Who Expects to Get Richer in 2024, by Both Generation and Gender
A survey of 600 high net worth individuals revealed there’s one subset of people who are confident of making it in 2024.
Who Expects to Get Richer in 2024, by Generation and Gender
This was originally posted on our Voronoi app. Download the app for free on Apple or Android and discover incredible data-driven charts from a variety of trusted sources.
The jury is still out on how the global economy is expected to perform in 2024, but as seen during the pandemic, economic turmoil sometimes provides opportunities for the wealthy.
We visualize the percentage of high net worth individual (HNWI) respondents who expect their wealth to increase in 2024, categorized by generation and gender, from the Knight Frank Next Gen Survey, accessible in their latest wealth report.
The survey covered 600 global HNWIs, who are individuals with more than $1 million in assets or make more than $200,000 a year, and then categorized their responses by gender and generation.
Affluent Gen Z Women Eye Financial Gains in 2024
At a glance, there’s a very apparent generational difference in the expectations of getting richer in 2024.
About half (52%) of the surveyed Baby Boomers think their assets will grow, compared to Gen X (56%), Millennials, (69%), and Gen Z (75%).
Group | Male | Female | Overall |
---|---|---|---|
👴 Boomer | 53% | 50% | 52% |
👩🦳 Gen X | 56% | 56% | 56% |
👩🦱 Millennial | 75% | 64% | 69% |
🧑🦰 Gen Z | 69% | 81% | 75% |
👨👩👧👦 All Generations | 68% | 63% | 65% |
Note: Percentage of respondents who said they expect their wealth will increase in 2024.
There’s also a noticeable gender difference. Men tend to be more optimistic than women, with one glaring exception.
A staggering 81% of the surveyed high net worth Gen Z women expect to make hay this year, making them the most optimistic of all the groups.
This corroborates a trend where Gen Z women were also the most optimistic in retirement planning. As CNBC reports, a combination of newer avenues of financial resources, and an openness towards advice, has given them a more optimistic attitude than their older counterparts.
Meanwhile, American Millennials are expected to become the richest generation ever as a $90 trillion asset transfer between Boomer parents and Millennial children begins to take place over the next two decades.
A huge percentage of that wealth comes in the form of property assets accumulated by generations before them. This especially includes houses, whose prices have skyrocketed over the last two decades.
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