New study shows that Wyoming has the most billionaires per million people

September 23, 2023 by No Comments

A new study from Madison Trust Company has shown that Wyoming has the most billionaires per million people. Per million people, Wyoming has 10.2 billionaires. Second on the list is New York which is 6.9. This shows just how far ahead Wyoming is in the rankings.

This may be surprising to some as Wyoming is not a mega city that is typically associated with wealth (compared to places such as New York and California). Nonetheless, it shows that the state is going places and should not be underestimated. As seen in the infographic below, there may be a few surprises with the findings.

Image//madisontrust.com

In total, the study revealed that there were 759 billionaires in the US. Although Wyoming residents may be celebrating this revelation, it’s bad news for South Carolina. This state was in bottom place with a mere 0.186 billionaires per million people. In fact, it’s bad news for most southern states which have very few billionaires. This may also help explain why Wyoming seems so affluent in comparison.

In fairness, this information does not explain wealth equality either. For instance, just because Wyoming has lots of billionaires, it doesn’t mean that the average Wyoming resident is particularly wealthy. In fact, Wyoming’s high number of billionaires could be explained by their tax laws.

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