California, New York, Florida, and Texas Dominate U.S. Billionaire Residency in 2025

The United States in 2025 showcases a striking concentration of billionaire residents in just four states: California, New York, Florida, and Texas. Together, these states host more than 60 percent of the nation's billionaires, a phenomenon attributed to their large populations and economic vibrancy. California leads with approximately 186 billionaires, many of whom are tech magnates based in the Bay Area. New York follows with around 135 billionaires, largely thanks to its finance and investment sectors. Florida and Texas, with about 78–97 and 73 billionaires respectively, have seen increases due to wealthy individuals relocating for tax advantages and entrepreneurial opportunities.

Nationally, the billionaire population is estimated between 756 and 868, spread across 42 to 47 states. Notably, Alaska, Delaware, and West Virginia report no billionaire residents, while ten states have exactly one. This distribution underscores the stark regional disparities in wealth accumulation across the country.

Key insights from the data reveal high-density clusters of billionaires in California and New York, surpassing most countries in billionaire counts. The migration of wealthy individuals to Florida and Texas is driven by favorable tax regimes and lower living costs. Industry diversity also plays a role, with technology dominating in California and Washington, finance in New York and Connecticut, and retail, food and beverage, and manufacturing contributing significantly in various Southern and Midwestern states.

These findings, sourced from Forbes and World Population Review data accessed by Visual Capitalist, illustrate the pronounced geographic concentration of wealth in the U.S. as of early 2025. The analysis not only sheds light on the current state of billionaire residency but also on the broader implications of economic factors and tax policies on wealth distribution and migration patterns among the ultra-wealthy.