These Are the States With Most Billionaires in 2020

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These Are the States With Most Billionaires in 2020
<a href="https://pixabay.com/users/Maklay62/">Maklay62</a> / Pixabay

America is home to about 800 billionaires, and there is a billionaire in almost every U.S. state. However, just two states account for a significant number of billionaires, and guessing those two states is not difficult as well – California and New York. But what about other states, how many billionaires do they have? This is where things get interesting, and we start to see some competition. If you are also interested in knowing about them, then detailed below are the top ten states with the most billionaires in 2020.

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Ten States With Most Billionaires In 2020

We have used the data from Statista to come up with our list of the ten states with the most billionaires in 2020. Following are the ten states with the most billionaires in 2020:

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  1. Nevada (11)

Most billionaires in Nevada have made a fortune from gambling and casinos. Sheldon Adelson, who is the chairman and CEO of Las Vegas Sands casinos, was the richest person in Nevada (Adelson died on January 11, 2021). Other popular billionaires in Nevada are David Duffield, Nancy Walton Laurie, Steve Wynn, Eren Ozmen and others. The combined net worth of the billionaires in the state is $56.5 billion.

  1. Georgia (12)

Most billionaires in the state belong to media and entertainment, fashion and retail, and food and beverages. Some of the popular billionaires in Georgia are Bubba Cathy (executive vice president of fast food chain Chick-fil-A), Dan Cathy (chairman and CEO of Chick-fil-A), Bernard Marcus  (co-founder of Home Depot) and Arthur Blank (co-founder of Home Depot). The combined net worth of the billionaires in the state is $41.6 billion. Jim Kennedy, the chairman of Cox Enterprise, is the richest person in the state.

  1. Washington (12)

The Evergreen State is home to two of the world’s richest people – Jeff Bezos and Bill Gates. As can be expected, most billionaires in the state belong to the tech industry. Bezos, founder and CEO of Amazon, is the richest person in Washington, as well as worldwide. Even though the state has just 12 billionaires, the combined net worth of these billionaires is $321.4 billion – all thanks to Bezos and Gates.

  1. Massachusetts (17)

Massachusetts is home to many billionaires in the finance and investment industry. Abigail Johnson, CEO of Fidelity Investments, is the richest person in the state. Another popular billionaire in Massachusetts is Robert Kraft, who is the owner of a super popular NFL team (New England Patriots). The combined net worth of the billionaires in the state is $51.5 billion.

  1. Illinois (17)

Most billionaires in Illinois also belong to the finance and investment industry. Ken Griffin, the founder of the global investment firm Citadel, is the richest person in the state. Illinois is one of two states with a billionaire governor, Hyatt hotels heir J.B. Pritzker. As per Forbes, the combined net worth of the billionaires in the state is $52.5 billion.

  1. Connecticut (17)

Connecticut is also home to many finance and investment billionaires. Bridgewater Associates, which is the biggest hedge fund in the world, is based in Connecticut (Westport). Some of the popular billionaires in the state are Steve Cohen, Ray Dalio, Alexandra Daitch, Karen Pritzker, and more. Ray Dalio, the founder of Bridgewater Associates, is the richest person in Connecticut. The combined net worth of the billionaires in the state is $66.3 billion.

  1. Texas (56)

A significant number of billionaires in Texas have made their fortunes in oil, gas or pipelines. Some of the popular billionaires in Texas are Alice Walton (heiress of Walmart), Jerry Jones (owner of the Dallas Cowboys), and Michael Dell (founder of Dell Technologies). Alice Walton is the richest person in Texas, and the combined net worth of the billionaires in the state is $238.9 billion.

  1. Florida (58)

Most billionaires in this state belong to the food and beverage industry. Some of the popular billionaires in Florida are Micky Arison (chairman of Carnival Corporation), Thomas Peterffy (the founder of Interactive Brokers), and David Tepper (owner of the Carolina Panthers and founder of Appaloosa Management). The combined net worth of the billionaires in Florida, as per Forbes, is $183.2 billion. Thomas Peterffy is the richest person in the state.

  1. New York (118)

New York is home to two of the world’s biggest stock exchanges. So, it is understandable that most of billionaires in the state belong to the finance and investment sector. Some of the popular billionaires in New York are Rupert Murdoch (founder of News Corp.), and Michael Bloomberg (co-founder of the media company Bloomberg). The combined net worth of these billionaires is $521.5 billion.

  1. California (165)

California is also the country’s most populous state, and is home to three of the top five metropolitan areas – San Francisco, Los Angeles and San Jose. Some of the most notable billionaires in the state are Larry Page (co-founder of Google), Mark Zuckerberg (co-founder of Facebook), Laurene Powell Jobs (founder of Emerson Collective and the widow and heir of Steve Jobs), Larry Ellison (CTO and Founder, Oracle) and more. The combined net worth of the billionaires in the state is $723.7 billion.

Correction: Earlier version of this article wrongly included David Koch as among the popular billionaires in New York. Since he passed away in August 2019, so he shouldn't be part of the 2020 list.

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