The Richest Person in Every State

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Generating $27.4 trillion in 2023 alone, the U.S. has had the world's largest economy for decades. By several measures, the United States has also created more individual wealth than any other country. According to the 2023 Global Wealth Report from the Zurich-based investment bank UBS, and the latest estimates from Forbes, the U.S. is home to over 22.7 million millionaires and 813 billionaires -- or about 38% of all millionaires and 29% of all billionaires worldwide. Meanwhile, the United States accounts for only 4% of the global population. (Here is a look at how the U.S. compares to the countries with the most millionaires .)

With only a handful exceptions, each of the 50 U.S. states are now home to at least one billionaire. These individuals and families have made their fortunes as entrepreneurs, financiers, and executives of major corporations.

Using data compiled by Forbes , 24/7 Wall St. identified the richest person in every state. States are listed alphabetically, and for each, we named the person or persons with the highest estimated net-worth as of March 8, 2024. All supplemental data is also from Forbes.

Depending on the state, the wealthiest person or family is worth anywhere from $400 million, to nearly $200 billion. Notably, this list does not include many of the richest Americans. For example, with a net-worth of $161 billion according to Bloomberg, Google co-founder Larry Page is the fifth richest person in the world. Page's wealth, however, is eclipsed by that of Facebook founder, Meta CEO, and fellow Californian, Mark Zuckerberg. Not only the richest California resident, Zuckerberg is also the third richest American and fourth richest person in the world. (Here is a look at how much it takes to be considered rich in every state .)

Many individuals on this list, including Zuckerberg, are entrepreneurs in the technology sector. In recent decades, computers have become ubiquitous in homes and workplaces around the world -- and the computer's proliferation has created lucrative opportunities for entrepreneurial software developers. Companies in the tech sector that have become household names -- like Amazon, eBay, and Microsoft -- are the primary source of wealth for many billionaires on this list.

Not all millionaires and billionaires on this list are themselves entrepreneurs, however. Some have served as executives of major companies during periods of rapid expansion. Many more have inherited vast family fortunes from the successful business ventures of a parent, grandparent, or spouse. For example, the wealthiest residents of two states are descendents of Walmart founder Sam Walton. The wealthiest residents of two other states are heirs to the fortune of the founder of Mars Inc., the company behind multiple well-known candy brands, including M&M's, Snickers, and Twix.

Why It Matters

Not only the wealthiest country in the world by gross domestic product, the United States is also home to many of the world's richest individuals and families. The financial assets of the richest people in each of the 50 states are worth a combined $1.6 trillion -- closely in line with the GDP of countries like Australia, Mexico, or Spain.

• Richest person(s): Jimmy Rane
• Est. wealth in 2024: $1.5 billion
• Source of wealth: Founder and CEO of Great Southern Wood Preserving, a lumber company
• Primary residence: Abbeville, AL
• Age(s): 77 years old

• Richest person(s): Jonathan Rubini and Leonard Hyde
• Est. wealth in 2024: $400 million
• Source of wealth: President, CEO, and chairman of JL Properties, a commercial real estate development company
• Primary residence: Anchorage, AK
• Age(s): 69 and 67 years old

• Richest person(s): Ernest Garcia II
• Est. wealth in 2024: $8 billion
• Source of wealth: Largest shareholder of Carvana, a used car sale platform
• Primary residence: Tempe, AZ
• Age(s): 66 years old

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