viduals—or people with $30 million or more in assets—are in New York City, Los Angeles, Chicago, San Francisco, and Washington D.C.
Of the global billionaire population, more live in New York, Hong Kong, Moscow, Beijing, and London than anywhere else in the world, reports Forbes. But of the 680 billionaires that live in the United States, quite a few have chosen to live in quieter locales that are much more remote, have sparse populations, and offer plenty of space for sprawling complexes of mansions and gardens.
Phoenix Marketing International in 2019 reported the small town with the highest concentration of millionaires in the country is Summit Park, Utah (based on data from U.S. Census Bureau). Of the households in the Salt Lake City suburb known for its luxurious ski resorts and famed film festivals, 12.5% are millionaires, and the median annual income among residents is a whopping $94,952.
And of states, Maryland has the most millionaires per capita, with more than one in 12 households reporting assets of $1 million or more. According to experts, this could be because of the growth of government contracting and lobbying in the Washington D.C. area. New Jersey takes second place for the most millionaires per capita, followed by Connecticut, Hawaii, and Alaska.
Stacker compiled a list of 25 billionaires that live in the smallest American towns, using current data from the Forbes’ Real-Time Billionaires List and 2018 5-Year Estimates from the U.S. Census Bureau’s American Community Survey (released December 2019). Billionaires are ranked by the population of their towns, and ties are broken by their net worth. The billionaire, their place of residence, their net worth, their age, and where their wealth came from are all included in this list.
Read on to find out where the rich and powerful live in the hidden corners of the United States.
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