In the U.S., some states are adding more billionaires than others. By early 2025, the data shows that California leads the way with around 199 new billionaire residents—up from a decade before—thanks to its booming tech and entertainment sectors.
New York comes in second, with about 136 billionaires living there. Florida ranks third, hosting roughly 117 billionaires, followed by Texas with about 83.
Why these states? California and New York have large economies and numerous thriving industries. Florida and Texas attract the ultra-wealthy with lower taxes and business-friendly rules.
In this article, we'll take a look at the top 10 U.S. states that are adding the most billionaires. We'll compare these states, explain why they are so popular with the ultra-rich, and show how they differ from others.
List of U.S. States with the Most Billionaires
According to a report by Forbes, here's the list of the U.S. states adding the most billionaires:
| Rank | State | Code | 2015 Billionaires | 2025 Billionaires | Change in Billionaires |
| 1 | California | CA | 124 | 199 | 75 |
| 2 | Florida | FL | 44 | 117 | 73 |
| 3 | New York | NY | 93 | 136 | 43 |
| 4 | Texas | TX | 48 | 83 | 35 |
| 5 | Illinois | IL | 17 | 30 | 13 |
| 6 | Massachusetts | MA | 10 | 23 | 13 |
| 7 | Pennsylvania | PA | 10 | 23 | 13 |
| 8 | Georgia | GA | 9 | 21 | 12 |
| 9 | Nevada | NV | 8 | 19 | 11 |
| 10 | North Carolina | NC | 3 | 10 | 7 |
| 11 | Arizona | AZ | 9 | 15 | 6 |
| 12 | Utah | UT | 1 | 7 | 6 |
| 13 | Virginia | VA | 5 | 11 | 6 |
| 14 | Connecticut | CT | 12 | 17 | 5 |
| 15 | Ohio | OH | 6 | 10 | 4 |
| 16 | Washington | WA | 13 | 17 | 4 |
| 17 | Colorado | CO | 10 | 13 | 3 |
| 18 | Louisiana | LA | 1 | 4 | 3 |
| 19 | South Carolina | SC | 1 | 4 | 3 |
| 20 | Hawaii | HI | 1 | 3 | 2 |
| N/A | U.S. (Total) | US | 540 | 869 | 329 |
California leads with 199 billionaires, followed by New York (136) and Florida (117), reflecting the immense concentration of wealth in these states. Texas holds 83 billionaires, while Illinois reports 30. Massachusetts and Pennsylvania each have 23, and Georgia follows with 21. Nevada has 19 billionaires, and Connecticut completes the top ten with 17.
- California: 199 Billionaires
- New York: 136 Billionaires
- Florida: 117 Billionaires
- Texas: 83 Billionaires
- Illinois: 30 Billionaires
- Massachusetts: 23 Billionaires
- Pennsylvania: 23 Billionaires
- Georgia: 21 Billionaires
- Nevada: 19 Billionaires
- Connecticut: 17 Billionaires
These states dominate due to robust tech, finance, and business-friendly climates, fuelling the rise of tech moguls like Elon Musk and Mark Zuckerberg. This geographic distribution highlights how a few states remain pivotal centres for America's wealthiest individuals.
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