This version of the article first appeared on CNBC’s Inside Wealth Newsletter. This is Robert Frank, our weekly guide to Net-Worth Investor and Consumer. Sign up to receive future editions directly in your inbox. The United States currently accounts for more than a third of the world’s billionaires and billionaires. Tech companies and startups are filling their unprecedented fate. According to a report by Henley & Partners and New World Wealth, the US has seen a 78% increase in over 6 million liquid billionaires or those with investmentable assets of more than $1 million over the past decade. They make up 37% of the total billionaires in the world. The number of US Sentimerions, or the number of people with more than $100 million in investmentable assets, reached 10,835 in 2024. This is more than four times that of China, which ranked second. Currently, there are 867 American billionaires, making up one third of the world’s billionaires. “The United States is an uncontroversial world leader when it comes to high-growth technology sectors such as software, microchips, online retail, internet hosting, social media, search engines, and AI.” In addition to the growth of its own billionaires, the United States also benefits from the movement of overseas billionaires to the United States. According to the report, around 3,800 billionaires from overseas moved to the United States last year. Most migrant billionaires have moved to California (a high-tech company), Florida and Texas, according to the report. While traditional U.S. wealth hubs continue to rule, many of the fastest-growing wealth centers are in the Sunbelt, as New York, the Bay Area and Los Angeles are home to the most billionaires. Scottsdale, Arizona is the fastest growing US city for billionaires, with 125% increasing to 14,800 over the past decade and the billionaire population rises to 14,800. West Palm Beach, Florida, ranked as the second fastest growth, up 112% to 11,500, with the Bay Area third and Miami fourth. The Bay Area and New York races for billionaires are approaching every year. New York has 384,500 billionaires, and is now just above the 342,400 Bay Area. The Bay Area billionaire population has grown 98% over the past decade, compared to 45% in New York. It may not be long before artificial intelligence will stolen the crown from the Big Apple by injecting new wealth and wealth creation into the Bay Area.
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This version of the article first appeared on CNBC’s Inside Wealth Newsletter. This is Robert Frank, our weekly guide to Net-Worth Investor and Consumer. Sign up to receive future editions directly in your inbox.
The United States currently accounts for more than a third of the world’s billionaires and billionaires. Tech companies and startups are filling their unprecedented fate.
