Florida, Texas, and Utah Outpace California in Superrich Growth

The Ranks of America’s Ultrawealthy Are Surging – and the Biggest Winners Aren’t New York or California.

or New Report From Wealth Intelligence Firm Altrates Release on Tuesday Shows that Florida, Texas, and Utah are Set to Experience the Fastest Growth in Ultra-Hind Individuals-Those More than $ 30 Million-Over the Next Five Years.

Florida Leads The Pack, with its population of the superrich projected to Grow 8.8% Annually Through 2030.

Utah, Buoyed by Salt Lake City Expanding Business Services Sector and Status as a luxury Winter Sports Hub, Is Close Behind 8.1% Growth.

Texas, Powered by Austin’s Booming Tech Industry and Houston’s Energy Wealth, Rounds Up The Top Three with 7.9% Growth.

America’s Wealth is Drifting South and West

The Findings Highlight A Broad Shift Underway in America’s Wealth Map.

While Traditional Hubs Like New York and Los Angeles Still Dominate in Absolute Numbers, with 21,380 Ultrawealthy Residents in New York City and 11,680 in Los Angeles, an Increasing Share of Fortunes is Heading South and West.

Altrata’s Report Cied Lower Taxes, Warmer Cllimates, and Expanding Finance and Tech Clusters as Helping these states attract both new and families relacated from Older Centers of influence.

Florida and Texas, in Particular, Have Seen An Influx of Wealthy Individuals and Corporations in Recent Years.

The Sunshine State Has Emerged As a Magnet for Hedge End Managers and Crypto Alike Investors, while Miami Has ESTABLISHED ITSELF AS A LUXURY REAL ESTATE POWERhouse.

Texas has also attracted high-profile names: Elon Musk Moved Tesla’s Headquarters from California to Austin in 2021, Followed by Other Executives to Escape The West’s Higher Costs.

Utah, Though Smaller in Scale, Is Now Gaining AS A Desirable Combination of Lifestyle and Business Hub, With Salt Lake City Drawing in Both entrepens and Estabished Fortunes.

California Still Leads The Pack – for Now

California Remains the Larger State for the Ultrawealthy, with 28,647 multimillionires, Project to Reach 37,029 by 2030.

That Still Leaves California Far Ahead of Second-Ranked Texas, which is Forecast to CLIMB TO 27,383.

But the momentum is shifting.

The Altrata Report – Which Bases Its Estimates on National Economic Data and A ProprisaSi Database of Millions of Wealthy Individuals – Shows California’s Ultrawealthy Population is Set to Grow at 5.3%Annually, Far Slower Than Florida’s 8.8%, Utah 8.1 and TEXS’S.

For the Country’s Wealthiest Individuals, Miami Condos, Austin Tech Campus, and Ski Chalets in Utah’s Wasatch Mountains Are Increasingly Competing With Manhattan Penthouses and Silicon Valley Estates as the Symbols of America’s New Elite.