Statistics
California Has Most UHNW Residents

California has the most ultra high net worth residents, according to research by Wealth-X. Wealth-X, which defines the UHNW as those worth $30 million or more, estimates there are more than 9,800 UHNW individuals in the Golden State.
New York has the second highest number of UHNW residents (more than 7,300), followed by Texas, which has more than 5,200.
Rounding out the 11 states with the most UHNW residents are Illinois, Florida, Michigan, Pennsylvania, Ohio, Wisconsin, Connecticut and New Jersey.
These eleven states account for more than 65 per cent of the US ultra wealthy population. Overall, Wealth-X estimates there are nearly 55,000 UHNW individuals in the US. More than half keep their primary residence in the top five states.
Despite the concentration of wealth in the top 11 states, there are opportunities for asset managers to earn the business of the ultra wealthy across the nation, according to Wealth-X. It maintains that only three states have less than 100 UHNW individuals: Alaska, Delaware and North Dakota.
"Placing wealth advisors in the correct community locations has become an important strategic differentiator for wealth management firms, especially as these organizations create or extend their UHNW platform," said Mykolas Rambus, chief executive officer of Wealth-X.