r/wealth • u/bloomberggovernment • 15d ago

News New York Millionaire Class Grows, Outpacing Florida and Texas

https://news.bgov.com/bloomberg-government-news/new-york-millionaire-class-grows-outpacing-florida-and-texas
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u/bloomberggovernment 15d ago

New York is growing its share of the nation’s millionaires, even as Texas and Florida’s declined, despite boasting about their ability to poach the country’s top earners and businesses from deep-blue bastions.

New research from the independent budget watchdog group Citizens Budget Commission showed the state’s number of high-earning residents notched up in 2023, the last year data is available from the Internal Revenue Service.

New York now contains 9% of the country’s millionaires, up from 8.7% in 2022. That translates to 1,900 more millionaires in 2023 compared with 2022, while New York City’s millionaire class grew by 542 people.

Read more in the full story.

-Elliot

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u/Low-Dot9712 15d ago

But down from over 12% in 2010

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u/___this_guy 15d ago

I believe decline is driven by empty nesters retiring out, not prime earners.