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May
TOP 10 WEALTHIEST CITIES IN THE US REVEALED, WITH NEW YORK CITY TAKING THE TOP SPOT
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CapitalTimesNews / 5 days
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- 2 min read
New York City has been ranked as the wealthiest city in the United States, with its residents collectively holding over $5 trillion in wealth. According to The USA Wealth Report, published by Henley & Partners in partnership with wealth intelligence firm New World Wealth, the city is home to 384,500 millionaires, 818 centi-millionaires, and 66 billionaires. The report highlights that the state’s wealth is not limited to New York City, but Texas features prominently, with three cities making the list. Houston ranks fifth, Dallas sixth, and Austin tenth. If combined, the three Texas cities would sit roughly third behind New York City and The Bay Area. The report attributes Texas’s success to its low state taxes and business-friendly government, which has attracted some of the largest companies in the country, including Tesla, AT&T, Charles Schwab, and Texas Instruments. Dallas has benefited significantly from this environment, while Houston is known as the country’s energy capital and a hub for engineering and aeronautics. Austin, on the other hand, has been dubbed “Silicon Hills” due to its booming tech sector. The city’s thriving tech industry has made it an attractive destination for businesses and high-net-worth individuals. The report provides valuable insights into the wealthiest cities in the US, highlighting the importance of business-friendly environments and low taxes in attracting wealth and talent.