The Internal Revenue Service released a report this week stating where American’s multi-millionaires live.
The report focuses on residents with a minimum net worth of $2 million and offers the population of millionaires in a gievn state as well as their percentage proportion per each state’s total adult population.
California tops the list with 329,000 multi-millionaires, which is 1.2 percent of the state’s adult population. In terms of sheer numbers, California is far ahead of other multi-millionaire rich states like New York (160,000) and Florida (155,000)
Eight of the states with the highest number of multi-millionaires are also among the ten most populated states. Thus, high overall population seems to be indicative of high numbers of multi-millionaires.
Here are the ten states with the highest population of multi-millionaires:
1. California – 329,000 (or 1.2% of total adult population)
2. New York – 160,000 (or 1.1% of the adult population
3. Florida – 155,000 (or 1.2% of total adult population)
4. Texas – 100,000 (or 0.6% of total adult population)
5. Illinois – 83,000 (or 0.6% total adult population)
6. New Jersey – 71,000 (or 1.1% of total adult population)
7. Pennsylvania – 57,000 (or 0.6% of total adult population)
8. Massachusetts – 51,000 (or 1% of total adult population)
9. Ohio – 50,000 (or 0.6% of total adult population)
10. Virginia – 49,000 (or 0.8% of total adult population)
Source: Elite Choice