MANILA, Philippines - The United States is home to the world's largest population of billionaires.
According to Wealth-X's special report on America's Ultra Wealthy Population, the US has 571 billionaires.
"There are more ultra-high net worth (UHNW) individuals worth $30 million to $49 million in the United States than there are UHNW individuals of all wealth tiers combined in any other single country," the report said.
UHNW individuals are defined as those with $30 million and above in net assets.
Wealth-X named California as the state with the highest number of ultra wealthy individuals in the US. There are 13,445 UHNW individuals who live in California, mostly in San Francisco (5,460) and Los Angeles (5,135).
California has a bigger UHNW population than the United Kingdom, which has 11,510.
New York state ranks second in the US with 9,530 UHNW individuals.
"California and New York added the largest number of new UHNW individuals - there were 1,470 new UHNW individuals in these two states alone. Although these states’ GDP growth was not as impressive as that seen in other states, they have a number of advantages, one of them being the high concentration of UHNW population and businesses already established there," Wealth-X said.
Texas ranked third with 6,510 UHNW individuals, even more than Canada.
Florida ranked fourth with 4,710 super wealthy individuals, followed by Illinois with 2,905 UHNW individuals.
City for the super-rich
However, more than 90 percent of the super rich in New York state (8,655 individuals) live in the Big Apple.
Wealth-X said New York City has the biggest ultra wealthy population not just in the US, but all over the world.
Wealth-X said it used the individual’s primary business address as a determinant of his or her location.
source: www.abs-cbnnews.com
