Alaska, Delaware and West Virginia are the only states without a single billionaire

According to Forbes, no billionaires list Alaska as their primary residence.
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  • According to Forbes, there are no billionaires in Alaska, Delaware and West Virginia.
  • In comparison, California has nearly 200 billionaires.
  • This despite the fact that, according to estimates, almost 800 billionaires live in the USA.

According to a new report from Forbes, Alaska, Delaware and West Virginia are the only states without a single billionaire.

The outlet released its latest ranking of the richest residents in every state on Thursday. Many of the results were not surprising: Elon Musk claims the title for Texas, Mark Zuckerberg for California and Michael Bloomberg for New York.

According to a report by investment and migration consultancy Henley & Partners, nearly 800 billionaires were living in the US as of December.

But in three states, no billionaires declare their primary residence.

However, Intuit CEO Brad Smith – no, not the Microsoft president of the same name – isn't far off. Forbes estimates the West Virginia resident, who is also president of Marshall University, had a net worth of about $900 million as of March.

And Elizabeth Snyder of Delaware, whose family business developed and patented Gore-Tex, is worth about $800 million, Forbes estimates.

But Alaska is still a long way from having a billionaire population.

The state's two richest people, Jonathan Rubini and his family and Leonard Hyde and his family, are each worth around $400 million, Forbes estimates. Rubini and Hyde co-founded JL Properties, a commercial real estate developer.

To be clear: Alaska, Delaware and West Virginia are among the least populated states in the United States. According to Census Bureau estimates for 2023, Alaska was the fourth-smallest state or county in the United States by population, Delaware was the seventh-smallest, and West Virginia was the thirteenth-smallest.

And the states with the most billionaires – California, followed by New York and Florida, according to the Forbes ranking – are three of the four most populous states. According to Forbes data from March, there are 197 billionaires in California.

But there are many more factors that contribute to how many billionaires a country has than just its population. California is home to numerous multi-billion dollar technology companies. New York is home to Wall Street and leading law firms. and Florida is building its reputation as a hub for financial services companies and a playground for the super-rich.

And where the rich live is also changing. The pandemic has contributed to what Henley & Partners calls a “millionaire remix,” with more wealthy people living in cities like the Texas state capital Austin, Scottsdale, Arizona and West Palm Beach, Florida.

Anna Harden

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