bcensus 2014 latest

7/26/2019 BCensus 2014 Latest

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The United States of America has the world’s largest ultra high net worth (UHNW)population and more UHNW wealth than any other country in the world. The USis also home to the largest population of billionaires in the world. There are moreUHNW individuals worth US$30 million to US$49 million in the US than there areUHNW individuals of all wealth tiers in any other country.

WEALTH-X : UNITED STATES OF AMERICA SPECIAL REPORT / 1

UNITED STATES OF AMERICA

SPECIAL REPORT

Total

2014 2013–2014

US$1 billion +

US$750 million – US$999 million







UHNW Population

69,560

571

350

1,110

2,135

3,940

5,285

21,380

34,789

UHNW Wealth

US$ billion

9,630

2,266

290

755

954

920

1,020

1,950

1,475

Population

Change %

6.2%

10.9%

22.8%

20.0%

9.8%

2.9%

4.0%

3.8%

7.6%

Wealth

Change %

6.0%

9.8%

7.4%

15.1%

1.0%

3.4%

2.5%

3.2%

7.3%

W W W. W E A LT H X . C O M



WEALTH-X : UNITED STATES OF AMERICA SPECIAL REPORT / 3

Breaking down America’s UHNW population by state, we see that some states areparticularly significant: for example, there are more UHNW individuals in Californiathan in the United Kingdom, there are more UHNW individuals in New York thanthere are in India, and there are more UHNW individuals in Texas than in all of Canada.

Alaska was the only US state to experience a decline in GDP over the last year, whileHawaii experienced no growth. It is therefore not surprising that, in the last year, Alaskaand Hawaii experienced no growth in their UHNW populations, while New Mexicoand Vermont only saw an increase of five UHNW individuals over the same time period.

Wisconsin and Connecticut also experienced disappointing growth, with their UHNWpopulations increasing by less than 3%, adding only 30 and 35 UHNW individuals,respectively. Those four states also experienced below average GDP growth.

The state with the fastest growing UHNW population was North Dakota, althoughthe absolute increase was only of 10 individuals. The second fastest UHNW population

growth was seen in South Dakota, although the increase was only of 20 individuals.These states experienced some of the fastest growth in GDP, causing existing businessesto become increasingly profitable and enabling a significant number of individuals tocross the UHNW threshold of US$30 million.

The strong growth witnessed in Florida’s financial and real estate sectors led to a sizeableincrease in the state’s UHNW population. Florida’s UHNW population grew by morethan 10%, adding almost 500 new individuals over the past year. Michigan was also astrong performer, benefiting from a surge in investment and a rising confidence in thestate’s economic outlook. The size of Michigan’s UHNW population expanded by morethan 10%, with the addition of over 200 individuals. California and New York added the

largest number of new UHNW individuals — there were 1,470 new UHNW individualsin these two states alone. Although these states’ GDP growth was not as impressive asthat seen in other states, they have a number of advantages, one of them being the highconcentration of UHNW population and businesses already established there.

W W W. W E A LT H X . C O M

bcensus 2014 latest

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