Top 15 States with the Most Millionaires

Millionaires and billionaires are the elite who make up the top 1% and top 10% of the richest people in the world. Most millionaires achieve success on their own and, thanks to smart financial actions, reach the million dollar mark. Which states have the most millionaires, the publication said Yahoo!.

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The emergence of the e-commerce market and digital infrastructure has opened up the opportunity for young enthusiasts to become millionaires and take their businesses and ideas to the global level. There were 2023 million millionaires in the world by the end of 2022, according to Credit Suisse's Global Wealth Report 59,4. With an overall decline in global wealth, the number of millionaires in the world fell by 2022 million in 3,5.

The main reason for the decline in the total number of millionaires was high inflation in 2022. Global wealth is projected to grow 38% over the next five years, reaching $2027 trillion by 629. During the same period, the number of millionaires will reach 86 million and the number of ultra-high net worth individuals (UHNWIs) is likely to increase to 372.

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To compile a list of states with the most millionaires per capita in the US, we first needed to obtain data on millionaires per capita for each state. Data on the number of millionaires per capita was taken from the annual Phoenix Wealth & Affluent 2019 report prepared by Phoenix Marketing International. This data was available until 2019. States are ranked in ascending order based on the ratio of millionaires to total population (HH).

15 States with the Most Millionaires Per Capita in the US

15. Illinois

• Millionaires in relation to the total population: 7,13%
• Number of millionaires: 346 873

Illinois is one of the richest states in the United States with a per capita GDP of $70. In 072, the ratio of millionaires to total residents in this state was 2019%. With 7,13 millionaires, Illinois ranks 346th among the states with the most millionaires per capita in the United States.

14. Minnesota

• Millionaires in relation to the total population: 7,43%
• Number of millionaires: 167 206

Minnesota's per capita GDP is $67 and the ratio of millionaires to total households is 120%. Minnesota has 7,43 millionaires and is among the states with the most millionaires per capita in the United States.

13. Colorado

• Millionaires in relation to the total population: 7,48%.
• Number of millionaires: 170 223

Colorado has 170 millionaires and a per capita GDP of $223. The ratio of millionaires to total households in Colorado is 73%.

12. New York

• Millionaires in relation to the total population: 7,52%.
• Number of millionaires: 570 456

New York is one of the richest states in the United States with a per capita GDP of $91. In 050, the ratio of millionaires to total population in New York was 2019%. With 7,52 millionaires, New York ranks 570th among the states with the most millionaires per capita in the United States.

11. Washington

• Millionaires in relation to the total population: 7,85%
• Number of millionaires: 233 155

Washington's per capita GDP is $86 and the ratio of millionaires to total households is 500%. With 7,85 millionaires, Washington is one of the states with the most millionaires per capita in the US.

10. Alaska

• Millionaires in relation to the total population: 8,18%.
• Number of millionaires: 22 302

Alaska's millionaire to total population ratio is 8,18% and its per capita GDP is $72. Alaska has 600 millionaires and is among the states with the most millionaires per capita in the United States.

9. Virginia

• Millionaires in relation to the total population: 8,31%.
• Number of millionaires: 272 103

Virginia's per capita GDP is $68 and the number of millionaire households is 050. Virginia's millionaire to total household ratio of 272% places it among the states with the most millionaires per capita in the United States.

8. New Hampshire

• Millionaires in relation to the total population: 8,47%
• Number of millionaires: 45,758

New Hampshire has 45 millionaires and a per capita GDP of $758. The ratio of millionaires to total residents is 65%, making New Hampshire the eighth state with the most millionaires per capita in the United States.

7. California

• Millionaires in relation to the total population: 8,51%
• Number of millionaires: 1,14 млн

California is one of the western states of the United States that has about 1,14 million millionaires. California's millionaire-to-household ratio of 8,51% places it among the states with the most millionaires per capita in the United States.

6. Columbia region

• Millionaires in relation to the total population: 9,12%
• Number of millionaires: 29 506

The District of Columbia has the highest GDP per capita at $215 and 025 millionaires. With a ratio of millionaires to total residents of 29%, the District of Columbia ranks sixth among the states with the most millionaires per capita in the United States.

5. Hawaii

• Millionaires in relation to the total population: 9,20%
• Number of millionaires: 44 383

Hawaii is an island state located in the western United States. There are 44 millionaires. Hawaii's millionaire to total population ratio is 383%, placing Hawaii among the states with the most millionaires per capita in the United States.

4. Massachusetts

• Millionaires in relation to the total population: 9,38%
• Number of millionaires: 254 201

Massachusetts has a GDP per capita of $88 and a total number of millionaires of 362. The ratio of millionaires to total population is 254%, making Massachusetts the fourth-highest state with the most millionaires per capita in the United States.

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3. Connecticut

• Millionaires in relation to the total population: 9,44%
• Number of millionaires: 130 291

Connecticut's per capita GDP is $78 and the total number of millionaires is 430. Connecticut's millionaire to total population ratio is 130%, placing it among the states with the most millionaires per capita in the United States.

2. Maryland

• Millionaires in relation to the total population: 9,72%.
• Number of millionaires: 221 189

Maryland's per capita GDP is $68 and the ratio of millionaires to total households is 361%. With a total of 9,72 millionaires, Maryland ranks second among the states with the most millionaires per capita in the United States.

1. New Jersey

• Millionaires in relation to the total population: 9,76%
• Number of millionaires: 323 443

New Jersey is the state with the most millionaires per capita in the United States. There are 323 millionaires in New Jersey, and the ratio of millionaires to total population is 443%.

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