Forbes has once again compiled its list of the richest individuals in each state, with a total of 54 billionaires making the cut this year. These billionaires have a combined net worth of $1.6 trillion, an increase of $100 billion from the previous year. Todd Graves, the founder and CEO of Raising Cane’s, has emerged as Louisiana’s wealthiest resident with an estimated fortune of $9.1 billion, knocking Gayle Benson from the top spot.
Several states have seen changes in their wealthiest residents as some billionaires have made cross-country moves. Jeff Bezos recently announced his move from Seattle to Miami, citing the desire to be closer to his parents and avoid Washington’s capital gains tax. With Bezos gone, Bill Gates now holds the title of Washington’s richest resident, despite dropping to number 9 on the global wealth rankings.
In California, Mark Zuckerberg has taken the top spot as the state’s richest individual, thanks to a significant increase in his fortune following the success of Meta. Zuckerberg’s wealth surge has pushed him ahead of last year’s richest California resident, Larry Page. Meanwhile, Pierre Omidyar has reclaimed the title of Hawaii’s richest resident, surpassing the likes of Bezos, Ellison, and Zuckerberg.
Other notable changes include Ernest Garcia II becoming Arizona’s wealthiest resident, replacing Arturo Moreno, and Steve Cohen taking the top spot in Connecticut, knocking Ray Dalio from the position. However, there are still three states, including Alaska, Delaware, and West Virginia, without a billionaire. In West Virginia, former Intuit CEO Brad Smith is inching closer to the billionaire club with significant gains in Intuit shares.
Overall, California leads the way with 197 billionaires, followed by New York with 139 and Florida with 107. The annual list highlights the diversity of wealth across the country and the ever-changing landscape of the billionaire elite. Forbes’ research team and reporters have provided in-depth analysis of each state’s richest resident and the factors that have led to their wealth accumulation.
