Wealth Migration
Search documents
Florida, Texas, and Utah are the fastest-growing hot spots for America's superrich
Yahoo Finance· 2025-10-01 18:03
Core Insights - The report from Altrata indicates a significant increase in ultra-high-net-worth individuals in states like Florida, Texas, and Utah, with Florida leading at an annual growth rate of 8.8% through 2030 [1][7] - The overall trend shows a shift in America's wealth distribution, moving away from traditional hubs like New York and California towards southern and western states [3][8] Growth Projections - Florida is projected to have the highest growth in ultra-high-net-worth individuals, with an annual increase of 8.8% [1][7] - Utah follows closely with an 8.1% growth rate, attributed to its expanding business services sector and luxury winter sports appeal [2][7] - Texas rounds out the top three with a 7.9% growth rate, driven by Austin's tech industry and Houston's energy sector [2][7] Wealth Migration - The report highlights a broader trend of wealth migration towards states with lower taxes, warmer climates, and growing finance and tech sectors [4][8] - Florida and Texas have seen a notable influx of wealthy individuals and corporations, with Florida becoming a hub for hedge fund managers and crypto investors [4][5] - Utah is gaining recognition as a desirable location for both lifestyle and business, attracting entrepreneurs and established fortunes [5] Current Wealth Distribution - California remains the state with the largest number of ultra-high-net-worth individuals, currently at 28,647, but is projected to grow at a slower rate of 5.3% annually [6][7] - Texas is expected to rise to 27,383 ultrawealthy residents by 2030, indicating a competitive landscape for wealth concentration [6][7]
Rich People Are LEAVING Their Countries! Here’s WHY
Coin Bureau· 2025-08-03 12:45
A record 142,000 millionaires are on the move this year, marking the largest wealth migration in modern history. But the real story isn't just the number, not more numbers. It's more about who's winning, who's losing, and what winning and losing really mean in this context.For the first time, the UK is hemorrhaging millionaires faster than any other country, even China. So, what's happening here. Where are the wealthy going.And what does a great wealth flight mean for the countries they leave behind and for ...
