Billionaires by State [America’s Richest in 2020]

There are around 600 billionaires living in the USA.

Who is the richest person in New York?

Our research took us as far as making a map about all the billionaires by state

Here’s what you need to know: 

This Map Shows the Number of Billionaires by State

 

Billionaires by State

However, if we take a look at the number of billionaires by state, we will find that nearly half live in two states. It is evident that this substantial number isn’t evenly distributed across all states. 

The thing is:

Certain industries are thriving in some states, which makes it possible for innovative entrepreneurs to become billionaires. So let’s see who the top billionaire in each state is.

Let’s see the numbers now: 

Billionaires by State: Stats and Facts (Editor’s Choice): 

  • About 600 billionaires live in the USA
  • California is home to 124 billionaires.
  • With a net worth of almost $54 billion, Michael Bloomberg is the richest person in New York.
  • The Waltons are the richest family on Earth with a fortune of $190 billion.
  • Washington is home to Jeff Bezos, the richest person on Earth, with a fortune of over $130 billion.

I’m not gonna get into too much detail.

When we think about America’s billionaires an image like that comes to mind: 

An image of Warren Buffet and Bill Gates.

Warren Buffet and Bill Gates

(Image: Inc.)

We’ll see a picture of Jeff Bezos later on… 

Let’s focus on a map overview to see just where these rich people come from and which state has the most billionaires.

Top 25 States with the Most Billionaires

We know that rich people tend to have a habit of choosing the best states to live in, so now we are going to see just what state in the US they prefer the most.

1. Billionaires in CALIFORNIA

(Source: Forbes)

There are 124 billionaires in California, making it the state with the most billionaires by far. The most prominent industry is technology, which is not a surprising fact considering California is the home of Silicon Valley. 

Some of the most notable billionaires living in the Golden State are Larry Page (co-founder of Google), Laurene Powell Jobs (founder of Emerson Collective and the widow and heir of Steve Jobs, co-founder and former CEO of Apple), and Mark Zuckerberg (co-founder of Facebook).

Who is the richest person in California?

Mark Zuckerberg not only makes our list of the richest person in each state, but he is also one of the richest people in America.

An image of Mark Zuckerberg - the richest person in California.

Mark Zuckerberg – the richest person in California

(Image: Twitter

He has an incredible net worth of  $71 billion.

You’ve probably heard the story:

Along with some of his friends, Zuckerberg created Facebook from his dorm room while attending Harvard University in 2004. Until recently, he was considered the youngest self-made billionaire, having become one in 2008. 

2.Billionaires in NEW YORK

(Source: Forbes)

The industry with most billionaires in the Empire State is finance and investments. As the home of 93 billionaires, New York also has one of the cities with most billionaires – New York City.

Some of the most famous billionaires living in New York are Michael Bloomberg (cofounder of the media company Bloomberg), David Koch (Koch Industries), and Rupert Murdoch (founder of News Corp.).

Who is the richest person in New York?

With a net worth of $53.8 billion, Michael Bloomberg is number nine on the Forbes top billionaires list in 2019. 

An image of Michael Bloomberg.

Michael Bloomberg – the richest person in New York

(Image: Wikipedia)

Here’s how he made his fortune:

He founded Bloomberg LP in 1981 using his severance from Salomon Brothers. Along with his co-founders, Bloomberg built a computer terminal that gave investors real-time access to Treasury bond prices. The software provided by Bloomberg LP is still used by many large financial firms. 

3.Billionaires in TEXAS

(Source: Forbes)

The Lone Star State is the home of 48 billionaires, with energy as the most lucrative industry. The most notable billionaires from this state are Michael Dell (founder of Dell Technologies), Jerry Jones (owner of the Dallas Cowboys), and Alice Walton (heiress of Walmart Inc.).

Who is the richest person in Texas?

An image of Alice Walton - the richest person in Texas.

The richest person in Texas is Alice Walton, with a net worth of $50.1 billion.

(Image: Business Insider

She is the only daughter of Sam Walton, the founder of Walmart. She is also the founder of Crystal Bridges Museum of American Art and serves as chairwoman of the museum’s Board of Directors. The Waltons have also been ranked as the richest family in the world, with a mind-blowing estimated wealth of $190.5 billion.

4. Billionaires in FLORIDA  

(Source: US News)

The Sunshine State is the home of 44 billionaires, the food and beverage industry being the one with the most billionaires. Thomas Peterffy (the founder of Interactive Brokers), David Tepper (owner of the Carolina Panthers and founder of Appaloosa Management), and Micky Arison (chairman of Carnival Corporation) are some of the most well-known billionaires in Florida.

Who is the richest person in Florida?

An image of Thomas Peterffy - the richest person in Florida.

With a net worth of $18.8 billion, Thomas Peterffy is the richest person in this state.

(Image: Forbes

Born in Budapest, Peterffy came to the USA in 1965 at the age 21. His background in programming helped him to automate the process of trading options on the American Stock Exchange. He founded Interactive Brokers, which is the world’s largest electronic broker.

5. Billionaires in ILLINOIS 

(Source: US News)

With 18 billionaires living in Illinois, it is one of the top 5 states with the most billionaires. The industry with the most billionaires is finance and investments. 

Who is the richest person in Illinois?  

An image of Ken Griffin - the richest person in Illinois.

The richest person is Ken Griffin, with a net worth of $11.7 billion.

(Image: Business Insider

He founded the global investment firm Citadel in 1990. Much like Zuckerberg, he began his career in a Harvard dorm. He started trading with the use of a fax machine, a personal computer, and a telephone. 

6. Billionaires in MASSACHUSETTS 

(Source: US News)

The Pilgrim State has the same number of billionaires by state as Illinois – 10 billionaires in total. The industry with the most billionaires is also finance and investments. 

Who is the richest person in Massachusetts?

An image of Abigail Johnson - the richest person in Massachusetts.

Abigail Johnson is the richest person in Massachusetts, with a net worth of $14.7 billion.

(Image: American Banker)

She is also ranked number seven on the Forbes list of world’s wealthiest female billionaires. She became CEO of Fidelity Investments in 2014. Fidelity Investments is an American multinational financial services corporation founded by Edward C. Johnson II (Abigail’s grandfather). 

7. Billionaires in CONNECTICUT 

(Source: US News)

12 American billionaires live in the Constitution State. Finance and investments is also the industry with the most billionaires there. 

Who is the richest person in Connecticut?

With a net worth of $18.4 billion, Ray Dalio is the richest person in Connecticut.

With a net worth of $18.4 billion, Ray Dalio is the richest person in Connecticut.

(Image: Inc.)

The founder of the world’s biggest hedge fund firm, Bridgewater Associates, Ray Dalio is the richest person in Connecticut. He has a net worth of $18.4 billion. He launched Bridgewater Associates after earning an MBA from Harvard Business School. 

8. Billionaires in GEORGIA  

(Source: US News)

How many billionaires live in Georgia?

There are 9 billionaires in Georgia. The industries with most billionaires are media and entertainment, food and beverages, fashion and retail, and service. 

An image of Jim Kennedy.

The richest person in Georgia is Jim Kennedy, with a net worth of $9.2 billion.

(Image: Atlanta Business Chronicle

He is the chairman of Cox Enterprises, founded by his grandfather, James M. Cox.

9. Billionaires in WASHINGTON

(Source: US News)

There are 13 billionaires living in the Evergreen State.

The industry with the most billionaires is technology

An image of Jeff Bezos.

The richest man in America and in the world happens to live in Washington – Jeff Bezos.

(Image: National Review

The founder and CEO of Amazon Jeff Bezos has a net worth of $117.9 billion as of April 2020. 

10. Billionaires in Nevada

(Source: US News)

There are 8 billionaires in Nevada, most of them making their fortune from gambling and casinos.

Who is the richest person in Nevada? 

The richest man in Nevada is Sheldon Adelson, with a net worth of $35.7 billion. Adelson is the chairman and CEO of Las Vegas Sands casinos. 

11. Billionaires in MICHIGAN  

(Source: Forbes)

There are 11 billionaires living in the Great Lakes State, most of them making their wealth in healthcare. 

Daniel Gilbert is the wealthiest person, with a net worth of $6.8 billion. He is the cofounder of Quicken Loans, America’s largest online mortgage lender. 

12. Billionaires in TENNESSEE  

(Source: Forbes)

There are 10 billionaires living in Tennessee.  The industry with the most billionaires are healthcare and retail and fashion. 

Residing in Tennessee, Thomas Frist Jr. also made it on the billionaires list. He is worth $11.7 billion, making his fortune in the healthcare industry. Along with his father, he founded Hospital Corp. of America in 1968. He stepped down from the board of directors in 2009.

13. Billionaires in PENNSYLVANIA

(Source: Forbes)

The industry with the most billionaires in the Quaker State is food and beverages. As for the number of billionaires by state, it is the same as Tennessee and Colorado – 10. 

The richest person in Pennsylvania is Victoria Mars, with a net worth of $7 billion. She is the heiress of the company Mars Incorporated. The company was founded in 2011 by her great grandfather Frank Mars. 

14. Billionaires in COLORADO  

(Source: Forbes)

The industries with the most billionaires in Colorado are media and entertainment, and food and beverages. 

With a net worth of  $12 billion, Philip Anschutz made our list of the richest person in each state

He is the owner of Anschutz Corp, which controls the world’s largest group of sporting teams and events. He also owns companies in the oil, railroads, telecom, and real estate industries

15. Billionaires in ARIZONA  

(Source: Forbes)

The Grand Canyon State is the home of nine billionaires, most of them making their fortune in the automotive industry.

With a net worth of $5.6 billion, Ernest Garcia II made the list of billionaires by state.
Garcia became a billionaire by reselling cars. He is the biggest shareholder of Carvana. 

16. Billionaires in WISCONSIN  

(Source: Forbes)

There are nine billionaires currently living in the Badger State. Most of the billionaires in Wisconsin made their fortune in manufacturing. 

Menards, a chain of home improvement stores, made John Menard Jr. the wealthiest person in Wisconsin. He has a net worth of $11.4 billion. John Menard Jr. is also on the  Forbes 400 2019 list. His company launched in 1958 and now boasts over 300 stores throughout the Midwest, located in Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, Wisconsin, and Wyoming. 

17. Billionaires in WYOMING  

(Source: Forbes)

Nine of the richest people in the US live in Wyoming. The industries with most billionaires are manufacturing, healthcare, food and beverage, and fashion and retail.

The richest person in Wyoming is John Mars, with a net worth of $28.1 billion. John inherited a stake from the candy firm Mars Inc, founded by his grandfather. Like his relative, Victoria Mars, he is part of a list comprised of the richest person in every state

18. Billionaires in NEW JERSEY  

(Source: Forbes)

There are eight billionaires living in the Garden State. Most of them made their fortune in finance and investment. The most notable ones are John Overdeck, Rocco Commisso, and Peter Kellogg.

With a net worth of  $6.1 billion, John Overdeck is the richest resident of New Jersey. He is also #267 on the 2019 Forbes list of billionaires in USA. He is the cofounder of Two Sigma Investments, an international hedge fund. 

Fun fact: Overdeck is an International Mathematical Olympiad Silver Medalist who studied mathematics at Stanford University. 

19. Billionaires in MARYLAND 

(Source: Forbes)

Maryland is the home of eight billionaires. The industries with the most billionaires are finance and investments and sports.

Who is the richest person in Maryland? 

That would be Ted Lerner. He is one of a number of US billionaires who started their businesses broke. 

Want to know how?

He borrowed $250 from his wife in order to start his real estate company, Lerner Enterprises, in 1952. 

20. Billionaires in OHIO

(Source: Forbes)

There are six billionaires residing in the Buckeye State. As with the majority of the states in the USA, most billionaires are in finance and investments.  

When ranking the richest people by state, Les Wexner makes the list as the wealthiest billionaire in Ohio, with a net worth of $4.7 billion. Les Wexner is the founder of L Brands, which is a global retail empire. Their most famous brands are Victoria’s Secret and Bath & Body Works.

21. Billionaires in MISSOURI  

(Source: Forbes)

Missouri has 6 billionaires. Most of them are involved in fashion and retail. 

Pauline MacMillan Keinath is the richest person in this state, with a net worth of  $6.9 billion. She is the largest shareholder of Cargill, a company founded by her great-grandfather, W.W. Cargill, in 1865.

22. Billionaires in ARKANSAS  

(Source: Forbes)

The number of Arkansas billionaires is five. The most prominent industry is fashion and retail. 

The title of the richest person in Arkansas goes to Jim Walton, who has a net worth of $51.1 billion. He is the youngest son of Sam Walton, the founder of Walmart. Both Alice and Jim are heirs to the fortune of Walmart. Jim Walton is the rich person number 16 on the list of the world’s richest people. 

23.  Billionaires in MINNESOTA   

(Source: Forbes)

Minnesota is the home of five billionaires. Most of them are involved in the food and beverage industry. 

With a net worth of $2.9 billion, Glen Taylor is the richest man in Minnesota. He worked at the Carlson Wedding Service before buying the company for $2 million in 1975, when the owner wanted to retire. He then formed the Taylor Corporation. 

24. Billionaires in OKLAHOMA 

(Source: Forbes)

There are five resident Oklahoma billionaires. The industry with the most billionaires is energy.

The richest man is Harold Hamm, an oil and gas tycoon. He has a net worth of  $11.8 billion. Hamm founded Continental Resources, Inc., which is an American petroleum and natural gas exploration and production company. 

25.  Billionaires in VIRGINIA  

(Source: Forbes)

There are only five billionaires in Virginia. Most of them are involved in the finance and investment industry. 

The richest person is Jacqueline Mars, with a net worth of $28.1 billion. Jacqueline is also a granddaughter of Frank Mars, the founder of Mars Inc. She owns an estimated one third of the company where she worked for around 20 years. 

How Many Billionaires Live in the United States of America? 

There are 2,153 billionaires on the 2019 list, around 600 of whom live in the USA. The top three world billionaires are Jeff Bezos, Bill Gates, and Warren Buffet. Bezos and Gates reside in Seattle, Washington, whereas Buffet is based in Nebraska.

The top ten list also includes four other American billionaires, namely Larry Ellison, Mark Zuckerberg, Michael Bloomberg, and Larry Page. Both Zuckerberg and Page are located in California, where the biggest number of billionaires by state live.

Sources:

  1. Forbes
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  4. US News
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