Request advisory
Dollar plane illustrationDollar bills illustration

WealthExodus

MAPPING U.S. MILLIONAIRE MIGRATION: HWNIS INFLOWS AND OUTFLOWS BY STATE.

57.0K
73.2K
  • Florida flagFlorida73,200
  • California flagCalifornia57,000
  • New York flagNew York34,600
  • Texas flagTexas18,700
  • Illinois flagIllinois15,300
  • North Carolina flagNorth Carolina12,800
  • South Carolina flagSouth Carolina10,300
  • Massachusetts flagMassachusetts9,400
  • New Jersey flagNew Jersey8,700
  • Arizona flagArizona7,900
  • Nevada flagNevada7,100
  • Connecticut flagConnecticut6,800
  • Tennessee flagTennessee6,400
  • Maryland flagMaryland4,700
  • Minnesota flagMinnesota3,900
  • Virginia flagVirginia3,600
  • Georgia flagGeorgia3,200
  • Idaho flagIdaho2,900
  • Oregon flagOregon2,800
  • Pennsylvania flagPennsylvania2,500
  • Colorado flagColorado2,400
  • Washington flagWashington2,200
  • Utah flagUtah2,100
  • Ohio flagOhio2,100
  • Michigan flagMichigan2,000
  • Hawaii flagHawaii1,700
  • Montana flagMontana1,700
  • Wyoming flagWyoming1,600
  • District of Columbia flagDistrict of Columbia1,300
  • New Hampshire flagNew Hampshire1,200
  • Louisiana flagLouisiana1,200
  • South Dakota flagSouth Dakota1,000
  • Alabama flagAlabama700
  • Maine flagMaine700
  • Wisconsin flagWisconsin600
  • Rhode Island flagRhode Island500
  • Alaska flagAlaska500
  • Indiana flagIndiana500
  • Arkansas flagArkansas500
  • Vermont flagVermont400
  • West Virginia flagWest Virginia400
  • Delaware flagDelaware400
  • Iowa flagIowa400
  • Mississippi flagMississippi300
  • Oklahoma flagOklahoma300
  • Kentucky flagKentucky200
  • Nebraska flagNebraska100
  • New Mexico flagNew Mexico100
  • North Dakota flagNorth Dakota0
  • Kansas flagKansas0
  • Missouri flagMissouri0

News & Research

JAN 2026
NEWS

Exodus: The Largest Wealth Flight in American History

From 2020 to 2024, Americans worth over 500 billion relocated between states, fleeing high-tax jurisdictions for states with lower taxes and more economic freedom. Florida, Texas, and Nevada emerged as the top destinations while California, New York, and Illinois experienced the largest outflows.

Exodus: The Largest Wealth Flight in American History
JAN 2026
RESEARCH

U.S. Wealth Migration Methodology: How We Built the Dataset

A detailed look at how we compiled data from IRS migration statistics, Federal Reserve wealth estimates, and state tax records to map the movement of high-net-worth individuals across U.S. states from 2018 to 2022.