Austin has become a hub for the wealthiest personalities in Richest People in Austin Texas America. It wasn’t always known as one of the richest states, but it evolved to become one in years of development. In the past 10 years, wealthy personalities and their billion-dollar businesses have moved into Austin and many other states in the US. But why? What have these states developed over time that is attracting the wealthiest population of the world to settle there?
Richest Residents in Austin, Texas
Austin is the home of the wealthiest billionaires in the US and is known as the money makers’ estate. If we count, the city is the residence of the 10 wealthy billionaires in the US. They are-
- Elon Musk– Elon Musk is the wealthiest person in the US, who owns Tesla, SpaceX, and Boring Company, famous for their tech innovations.
- Michael Dell- Michael Dell rests his name on the 17th position in the Forbes 400 list. He is the owner of Dell Technologies famous worldwide for its high-tech features and durability.
- Robert F. Smith- Robert F. Smith stands in the 203th position in the Forbes 400 list being the owner of Private Equity firm.
- Joe Gebbia- Joe Gebbia is the official owner of Airbnb famous for its travel and hospitality services to travelers throughout the world. He stands on the 328th position in the Forbes 400 list being the owner of a million-dollar business.
- Bert ‘Tito’ Beveridge- Bert ‘Tito’ Beveridge has started and evolved the premium vodka-making business “ Tito’s Vodka”. Through this business, he has reached 834th place in the Forbes list of wealthy individuals.
- Thai Lee- He is the owner of a business called ‘SHI International’ which deals in the development of AI tech tools. It is entirely run by women and thus, she has reached 474th position in the Forbes list.
- Joe Liemandt- Again, Joe Liemandt is a tech-savvy owner of a tech company known as ‘Trilogy Software’. He is among the 561 wealthiest people residing in the world.
- Hayes Barnard- Hayes Barnard is the founder of Goodleap which mainly deals in financial technology and is a quite potential company for the future. Barnard stands in the 1151th position on the Forbes list which shows how much the company needs to expand itself.
- Drayton McLane- He is the founder of the McLane Group and stands on the 242th position in the Forbes 400 list.
- John Paul Dejoria- He is the founder of Paul Mitchell Products and Patron Spirits, which makes him the 1219th wealthiest person in the world.
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Which US cities have the most billionaires?
The US is a hub of the wealthiest people throughout the world due to its dominance in most categories of trade in the world. However, only 10 cities in the US bear the weight of the wealthiest personalities in the US. The highest number of billionaires reside in San Francisco (82) due to its vibrant city with perfectly developed infrastructure and opportunities. It is followed by New York City, which is the residence of about 60 wealthiest people in the US. The chronological order of cities is- San Francisco (82), New York City (66), Los Angeles (56), Chicago (25), Miami(23), Houston (18), Dallas(16), Washington D.C. (11), Seattle(11), and Austin (11). So, for those who thought Austin had the largest number of billionaires living there, please rethink your preferences.
Which us States Have The Most Number Of Billionairs That We Have Known To This Day?
We have gone through the cities which have the largest population of billionaires in the US. Now, what about the states? How much of the billionaire population must be residing state-wise in the US? Here, we will look through 10 states of the US that have the highest number of billionaires residing there in ascending order. They are- California (124), New York (93), Texas (48), Florida (44), Illinois (17), Washington (13), Michigan(11), Colorado(10), Massachusetts (10), and Pennsylvania (10).Now, let’s move towards the very question for which you’ve gone through till this length of the article.
Why is Texas the Residence of so many Billionaires?
We cannot exactly determine why most of the billionaires choose to reside in states like Texas. However, we have some valid theories for the crowd of wealthy individuals residing in Texas. Texas is one of those states that doesn’t levy state income taxes on its residents. Thus, it is an attraction for wealthy individuals who wouldn’t want to pay high taxes to see their income. Moreover, Texas includes the metropolitan areas- Houston, Austin, Dallas, and San Antonio, which are also the most populated areas of Texas. Thus, we can say that these must have higher technological opportunities than the rest of the state of the US.
Conclusion
We have gone through the names of the richest residents living in Austin, Texas; the city with the highest billionaire residents; and the states with the highest billionaire residents in the US. We have also concluded why Austin, which is a city in Texas, has a high residence of billionaires in the US.
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FAQs
1. How has Austin evolved in attracting the billionaire population over time?
Ans. Austin has had an impressive growth rate over a decade, with an almost 110% increase in millionaire investment in the city.
2. Where do most of the billionaires reside in Austin?
Ans. Most billionaires will be found near the West Lake Hills, Tarrytown, and Lake Austin in the city of Austin due to the presence of luxury properties.
3. Is Austin counted as the richest city in the US?
Ans. No, Austin is not counted as the richest city in the U.S., but it is constantly developing.
4. Are these billionaires also involved in Charity work?
Ans. Yes, most of the billionaires in Austin, like Robert F. Smith, are involved in charity work.
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