And the state where the richest people live is...

[Mr. Big Dog 10,747]

Texas is trailing high tax and more tightly regulated New York and California in high net worth population. Low taxes and lax regulations really ain't everything, eh?

And the state where the richest people live is...

Which U.S. state has the wealthiest residents of them all? It’s the home state of Facebook Chief Executive Mark Zuckerberg but not America’s richest man, Bill Gates, who lives in the state of Washington.

California is the state with the highest number of ultrawealthy individuals, according to a report from private wealth consultancy Wealth-X. There are 13,445 ultrahigh-net-worth individuals — defined as those with $30 million and above in net assets — based in the Golden State, up 6% on a year-over-year basis. They’re mostly located in San Francisco (5,460 people) and Los Angeles (5,135).

In fact, California’s population of ultrawealthy individuals is larger than the ultrawealthy population in the entirety of the United Kingdom (11,510).

Other states are experiencing a super-rich surge. New York was No. 2 on the list, with 9,530 ultrahigh-net-worth individuals in 2014, up 6% in the last year, and — perhaps unsurprisingly — 8,655, or 91%, of them were based in New York City. The population of people with $30 million or more rose 14% on a year-over-year basis to 80 in North Dakota, which is currently experiencing an energy oil boom. Florida’s ultrahigh-net-worth population increased by more than 10%, adding almost 500 new individuals to in 2014 due to strong growth in the state’s financial and real-estate sectors.

But at least Texas has a higher percentage of poor people than New York and California. Who says low taxes and lax regulation aren't good for anything?

Edited November 25, 2014 by Mr. Big Dog

[Janelle2002 3,865]

All these poor Americans with poor illegals pilling in on top of them. So sad.

[Mr. Big Dog 10,747]

All these poor Americans with poor illegals pilling in on top of them. So sad.

Read and learn:

• http://www.cato.org/blog/immigrations-real-impact-wages-employment
• http://www.frbsf.org/economic-research/publications/economic-letter/2010/august/effect-immigrants-us-employment-productivity/

Bottom line, that simplistic view does not apply because the national economy is not static but dynamic.

[DavenRoxy 1,073]

So what is the correlation of a state's quantity of ultra-rich individuals with... anything? With whom are you trying to pick a fight tonight?

[Mr. Big Dog 10,747]

So what is the correlation of a state's quantity of ultra-rich individuals with... anything? With whom are you trying to pick a fight tonight?

Just posted an article from MarketWatch. What's the issue? Facts not convenient?

[DavenRoxy 1,073]

Just posted an article from MarketWatch. What's the issue? Facts not convenient?

Convenient to what, or whom? Some states have richer people. Ergo, some do not. What does it matter? Unless you are ultrarich and bragging about the state in which you live, I don't see the point...

[Mr. Big Dog 10,747]

Convenient to what, or whom? Some states have richer people. Ergo, some do not. What does it matter? Unless you are ultrarich and bragging about the state in which you live, I don't see the point...

Well, I keep reading here about all that wealth drain from overtaxed and over regulated states like NY and CA and all that wealth migration to more friendly states like Texas. And then there are these cold, hard facts that don't comport with that narrative. I find that interesting. You might not and that's okay. No need to post in this thread, then.

[DavenRoxy 1,073]

Well, I keep reading here about all that wealth drain from overtaxed and over regulated states like NY and CA and all that wealth migration to more friendly states like Texas. And then there are these cold, hard facts that don't comport with that narrative. I find that interesting. You might not and that's okay. No need to post in this thread, then.

Ok, now I get where you are coming from. Wasn't bashing ya just didn't get it at first.

But I reckon that more people want to live in FL, NY, and CA than TX, WY, and AL. And since it costs more to live in the first three, it stands to reason that people with more money will be drawn there...

(Though for the life of me I cannot imagine someone wanting to move to CA or NY, ever)

[Karee 4,189]

Ok, now I get where you are coming from. Wasn't bashing ya just didn't get it at first.

But I reckon that more people want to live in FL, NY, and CA than TX, WY, and AL. And since it costs more to live in the first three, it stands to reason that people with more money will be drawn there...

(Though for the life of me I cannot imagine someone wanting to move to CA or NY, ever)

I'd like to live in Manhattan. The rest of the state, not so much

[GandD 5,966]

The weather in CA alone is worth the move. I'd do it if it was more convenient and I could afford it. Which I can't.

[Teddy B 17,251]

I'd like to live in Manhattan. The rest of the state, not so much

You think you could do that rat race everyday? I couldn't. I look at Manhattan kinda like Vegas, it's great to visit and have some fun, but it's definitely not somewhere I would want to settle down.

[Karee 4,189]

You think you could do that rat race everyday? I couldn't. I look at Manhattan kinda like Vegas, it's great to visit and have some fun, but it's definitely not somewhere I would want to settle down.

I like the public transport and the convenience of it. Need something? Just go walk and get it. Cars are silly IMO. (I probably shouldn't be saying that coming from Detroit. Oops.)

[Teddy B 17,251]

I like the public transport and the convenience of it. Need something? Just go walk and get it. Cars are silly IMO. (I probably shouldn't be saying that coming from Detroit. Oops.)

I hate public trans. Being stuck in a tin can with a bunch of people aint for me. When I went to school in Boston, I could've saved a lot of time and money by taking public trans, but I couldn't do it, I drove in and out every day.

[Karee 4,189]

I hate public trans. Being stuck in a tin can with a bunch of people aint for me. When I went to school in Boston, I could've saved a lot of time and money by taking public trans, but I couldn't do it, I drove in and out every day.

NYC is the only place I've been in the U.S. where public transit is probably quicker than driving. If they would only extend the train to Laguardia, that would be awesome.

[Novembro 1,763]

I'd move to Wisconsin in a heartbeat if I could live in Jeffrey Dahmer's old apartment and secure a lifetime supply of cheese and beer.