The U.S. is home to over a quarter of the world’s billionaires, representing about 720 of the roughly 2,700 that exist globally. But who is the richest billionaire in every American state in 2022?
Over a quarter of the approximately 2,700 billionaires in the world, or about 720, reside in the United States.
Despite having more billionaires than any other nation, the United States has recently seen a decline in its proportion of the world’s billionaires. Around 40% of the world’s billionaires lived in America in 2010, but that percentage is now closer to 27%.
But using information from Forbes we can find out who are the wealthiest billionaires in each state of the United States in 2022.
The Richest of the Rich
The industries in which the billionaires on this list have succeeded include technology, autos, asset management, and video games.
In recent years, the relative fortunes of Jeff Bezos and Elon Musk have fluctuated along with the prices of the Amazon and Tesla stocks. They have each held the title of the richest person in the world at different times due to the volatility in share prices.
Formerly in first place, Jeff Bezos now ranks second with a net worth of $162 billion. The performance of the company will probably continue to have a significant impact on his ranking even if he has resigned as CEO and sold a significant amount of Amazon stock.
Although Elon Musk is the wealthiest billionaire in Texas, he only recently moved there. His relocation is a part of a larger migratory pattern that is currently taking place in the United States, where California is witnessing the first-ever population loss. According to U.S. Census Bureau data, many of the Americans who left California last year moved to areas like Florida and Texas, leaving 68% of California’s counties with population declines.
The South is the only region that experienced positive net flows of over a million people from 2019 to 2021, whereas the Northeast, Midwest, and West all experienced declines.
With a net worth of $105 billion, Nebraska’s richest billionaire by a large margin is Warren Buffett, the “Oracle of Omaha.” Buffett’s net worth has been surprisingly stable despite the stock market having one of its worst starts to a year ever.
This might be the result of value assets returning to trend this year in favour of growth and tech themes. Additionally, Buffett has generally been positive in situations where fear and negative sentiment are reflected in lower asset prices.
Eight different women are the richest billionaires in their respective states.
With an 11% interest in Public Storage, which is valued at $60 billion on the New York Stock Exchange, Tamara Gustavson is the company’s largest shareholder. She is the daughter of firm founder B. Wayne Hughes, who sadly passed away last year, and also serves as the director of the company. Amazingly, Public Storage manages properties totaling more than 170 million square feet.
The richest women in the world which included Abigail Johnson and Jacqueline Mars. Johnson has held the position of CEO of renowned asset manager Fidelity, which was founded by her grandpa Edward Johnson. In addition, Jacqueline Mars is a member of the Mars family, which owns the world’s largest candy maker.
The wealth distribution in the US is quite extreme. While there are several chances to accumulate significant wealth, wealth inequality and income disparity are higher than in many other peer countries.
While there may not be a billionaire in every state by 2022, this productivity- and hustle-oriented culture predicts that it’s likely only a matter of time before states like Alabama, New Mexico, and North Dakota add a billionaire to their ranks.