New York and Texas are billionaire hubs, but no state has more members of the ForbesBillionaires list than California
or all the talk about business-types leaving California, the Golden State is still home to the most billionaires in the U.S.’ 2022 World’s Billionaires list, 186 billionaires live in California, down from 189 a year ago, but far more than any other state, even New York and Texas .
The small decline is due to a few high profile billionaires who did indeed move out of the state: Luminar founder Austin Russell, Dropbox CEO Drew Houston, private equity executive Orlando Bravo and Slack CEO Stewart Butterfield. Russell and Bravo decamped to Florida, while Houston moved to Austin, Texas, and Butterfield went to Colorado.
Why does California reign supreme? Thank the booming technology industry. Almost half of the state’s billionaires come from tech. Much of that wealth is concentrated in the San Francisco Bay Area, where 116 of the state’s billionaires reside. That includes the state’s richest residents: Google cofounders Larry Page and Sergey Brin. Sixty-seven billionaires live in Southern California, including 45 in Los Angeles, newcomer Rihanna and Snapchat founder Evan Spiegel.
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