Top 9 States Where Billionaires Live, According to Their Tax Returns
Written by
Nicole Spector
Edited by
Molly Sullivan
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Regardless of your wealth status, you’ve likely wondered what your life would be like if you were a billionaire. You may have asked yourself, if only whimsically, “Which restaurants would I frequent? What car would I drive? What would my house (or one of my many houses) look like and where would I live when not traveling on my mega yacht?”
We can’t answer these questions for you, but we can tell you where most billionaires in the U.S. live. A new study, conducted by Dawn Delia, a federal tax attorney, and her team at Delia Law, calculated which states have the highest number of billionaire tax returns in the U.S. These are the top nine, according to IRS data.
Along with the average home value in November 2024, per Zillow, GOBankingRates provided the findings below.
9. Nevada
- Number of billionaires: 17
- Total individual income tax (2023, gross, thousands $): $28,985,886
- Percentage of billionaires in the state: 2.27%
- Home value average in 2024: $442,185
8. Pennsylvania
- Number of billionaires: 18
- Total individual income tax (2023, gross, thousands $): $150,898,585
- Percentage of billionaires in the state: 2.40%
- Home value average in 2024: $268,824
7. Georgia
- Number of billionaires: 18
- Total individual income tax (2023, gross, thousands $): $108,466,844
- Percentage of billionaires in the state: 2.40%
- Home value average in 2024: $326,617
6. Massachusetts
- Number of billionaires: 22
- Total individual income tax (2023, gross, thousands $): $136,910,476
- Percentage of billionaires in the state: 2.94%
- Home value average in 2024: $623,131
5. Illinois
- Number of billionaires: 23
- Total individual income tax (2023, gross, thousands $): $176,517,904
- Percentage of billionaires in the state: 3.07%
- Home value average in 2024: $266,706
4. Texas
- Number of billionaires: 73
- Total individual income tax (2023, gross, thousands $): $336,149,775
- Percentage of billionaires in the state: 9.75%
- Home value average in 2024: $300,267
3. Florida
- Number of billionaires: 78
- Total individual income tax (2023, gross, thousands $): $280,559,094
- Percentage of billionaires in the state: 10.41%
- Home value average in 2024: $392,176
2. New York
- Number of billionaires: 135
- Total individual income tax (2023, gross, thousands $): $324,747,056
- Percentage of billionaires in the state: 18.02%
- Home value average in 2024: $482,742
1. California
- Number of billionaires: 186
- Total individual income tax (2023, gross, thousands $): $504,568,066
- Percentage of billionaires in the state: 24.83%
- Home value average in 2024: $771,057
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