"Florida leads the pack, with its population of the superrich projected to grow 8.8% annually through 2030. Utah, buoyed by Salt Lake City's expanding business services sector and status as a luxury winter sports hub, is close behind with 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."
"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 cited lower taxes, warmer climates, and expanding finance and tech clusters as helping these states attract both new wealth and families relocated from older centers of influence."
Florida, Texas, and Utah are projected to experience the fastest growth in ultra-high-net-worth individuals—those worth more than $30 million—over the next five years. Florida's superrich population is projected to grow 8.8% annually through 2030, Utah 8.1%, and Texas 7.9%. New York City and Los Angeles still have the largest absolute counts, with 21,380 and 11,680 ultrawealthy residents respectively. Lower taxes, warmer climates, and expanding finance and tech clusters are driving migration of fortunes to the South and West, with Miami, Austin, Houston, and Salt Lake City emerging as key hubs.
Read at Business Insider
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