📝 usncan Note: These States Are Home To The Most Forbes 400 Billionaires In 2025
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Residents of 38 states and the District of Columbia made this year’s ranking of the richest people in the U.S. But the country’s extreme wealth remains clustered in a handful of hot spots.
Billionaires from all over America made the annual Forbes 400 ranking of the country’s richest people in 2025. But the ultra-wealthy aren’t spread evenly across the U.S., with more than half of the list living in the four most populous states, which account for nearly two-thirds of the record $6.6 trillion in total wealth on this year’s ranking.
California overtook Japan to become the world’s fourth-largest economy this year. So it’s no surprise that the Golden State is home to the most Forbes 400 members yet again. There are 85 Californians on this year’s list, up from 83 last year, and they’re worth $1.7 trillion combined. Five of America’s 15 centibillionaires (those worth 12 digits) live in California, including Oracle’s Larry Ellison (estimated fortune: $276 billion), who regained the state’s top spot from Meta’s Mark Zuckerberg ($253 billion) for the first time since the 2023 list. Forbes classifies Ellison–who bought nearly all of the Hawaiian island Lanai for $300 million in 2012–as a California resident based on his voter registration.
Florida, meanwhile, slipped back into third place, with 49 residents on this year’s Forbes 400, after tying New York as runner-up for the first time ever in 2024, with 54 locals on last year’s ranking. Amazon’s Jeff Bezos ($241 billion), one of a handful of billionaires who moved to the Sunshine State after the 2023 list, now ranks as the country’s fourth-richest person and controls just over a third of the $716 billion in Floridian wealth on The Forbes 400. Back in solo second, New York is home to 57 members of this year’s list who are worth $691 billion combined, led by the former mayor of the state’s largest city, Michael Bloomberg ($109 billion).
Texas remains in the four spot with the same number of residents on the ranking as last year (43), though they’re now worth $1 trillion combined for the first time. That’s thanks in large part to the country’s richest person, Elon Musk, who moved to the Lone Star State from California in 2020 and whose fortune soared by 75%, to $428 billion, over the past year.
The District of Columbia now has a resident on The Forbes 400: newcomer Michael Sabel of liquified natural gas exporter Venture Global. But, overall, the number of states represented on the 2025 list fell to 38, from 40 last year. Five of them only have one local on this year’s ranking: Nebraska (Berkshire Hathaway’s Warren Buffett), Kentucky (Public Storage heiress Tamara Gustavson), South Carolina (real estate investor Robert Faith), Hawaii (eBay founder Pierre Omidyar) and Iowa (seed-genetics licensor Harry Stine). Seven other American billionaires on The Forbes 400 live outside the country, including London-based music and chemicals mogul Len Blavatnik and Seoul-based private equity tycoon Michael Kim.
Some states with a lone 400 member last year were booted from the list, including Idaho (Melaleuca CEO Frank VanderSloot), Rhode Island (Providence Equity Partners founder Jonathon Nelson) and Maine (Dexter Shoe Company heiress Susan Alfond). Mississippi is back on the map this year, thanks to billionaire brothers James and Thomas Duff, who rejoined the ranks with net worths of $4.1 billion each.
Here are the 10 states that are home to the most members of The Forbes 400.
Net worths are as of September 1, 2025.
10. Michigan
Forbes 400 members: 8 (no change from 2024), worth $80.1 billion
Richest resident: Daniel Gilbert ($26.7 billion)
Michigan returns to the top 10 this year after falling out in 2024. The state’s richest resident is still Rocket Mortgage founder Daniel Gilbert, whose net worth stands at $26.7 billion. Behind him is Mat Ishbia, the CEO of United Wholesale Mortgage, who’s worth $9.5 billion. Other notable Michiganders include Doug, Hank and Mark Meijier ($6.9 billion each), of the midwestern supermarket chain Meijer.
8. Massachusetts (tie)
Forbes 400 members: 9 (no change), worth $98.8 billion
Richest resident: Abigail Johnson ($35 billion)
Nearly 80 years after it was founded, Fidelity Investments has grown into one of the largest mutual funds in the country. The company is still headquartered in Boston, and it’s still managed by the Johnson family. Abigail Johnson was named CEO in 2015, and she takes the top spot in the state, with a net worth of $35 billion. She’s followed by her siblings Edward Johnson IV ($14.2 billion) and Elizabeth Johnson ($12.3 billion). Other Massachusetts billionaires include New England Patriots owner Robert Kraft ($13.8 billion) and Pegasystems founder Alan Trefler ($4.2 billion).
8. Nevada (tie)
Forbes 400 members: 9 (-1 from 2024), worth $111.7 billion
Richest resident: Miriam Adelson & family ($37.9 billion)
Nevada draws tens of millions of visitors every year hoping to strike rich, so it’s only fitting that casinos helped mint nearly the state’s wealthiest resident: Miriam Adelson ($37.9 billion), the widow of casino titan Sheldon Adelson (d. 2021). Other Silver Staters Walmart heiress Nancy Walton Laurie ($15.6 billion) and PeopleSoft and Workday cofounder David Duffield ($12.8 billion).
7. Georgia
Forbes 400 members: 10 (no change), worth $93.2 billion
Richest residents: Dan Cathy, Bubba Cathy and Trudy Cathy White ($13.7 billion each)
The three wealthiest people in the Peach State owe their fortunes to Chick-fil-A. The three children of S. Truett Cathy (d. 2014), who founded the fast-food chain in an Atlanta mall in 1967, are worth an estimated $13.7 billion each. Not far behind them is Home Depot cofounder Arthur Blank ($11.4 billion), who has donated roughly $1 billion of that back into the Atlanta community, supporting initiatives in youth development, healthcare and environmental efforts.
6. Pennsylvania
Forbes 400 members: 11 (+1 from 2024), worth $141.8 billion
Richest resident: Jeff Yass ($65.7 billion)
Susquehanna International Group cofounder Jeff Yass is once again the Keystone State’s wealthiest resident, with a net worth of $65.7 billion. The trading firm’s other cofounder, Arthur Dantchik, is in second place with a $16.3 billion fortune. Other billionaires from Pennsylvania include former Dick’s Sporting Goods CEO Edward Stack ($5.4 billion), Philadelphia Eagles owner Jeffrey Lurie ($7.6 billion), and candy and pet food heir Victoria Mars ($10.5 billion).
5. Illinois
Forbes 400 members: 16 (flat from 2024), worth $132.8 billion
Richest resident: Lukas Walton ($39.8 billion)
In Illinois, one of the wealthiest people in the state also happens to run it. J.B. Pritzker ($3.9 billion), an heir to the Hyatt hotel fortune, has served as governor since 2018. The richest person of all, though, is Lukas Walton. The 38-year-old Walmart heir has a net worth of $39.8 billion.
4. Texas
Forbes 400 members: 43 (no change), worth $1 trillion
Richest resident: Elon Musk ($428 billion)
After spending the first few months of 2025 in Washington D.C. steering President Trump’s DOGE initiative, Elon Musk is back home in the Lone Star State. The Tesla and SpaceX founder left California for Texas in 2020, shifting Tesla’s headquarters to Austin the following year. Since then, he’s steadily acquired land for SpaceX operations and founded his own town of Starbase near the Rio Grande. Texas is also home to the richest woman in America, Walmart heiress Alice Walton ($106 billion).
3. Florida
Forbes 400 members: 49 (-5 from 2024), worth $716.3 billion
Richest resident: Jeff Bezos ($241 billion)
Florida now ranks third among states with the most billionaires, down from a tie with New York for second last year. Leading the pack is Amazon founder Jeff Bezos, who relocated from Seattle to Miami in 2023. Behind him sits Citadel founder Ken Griffin ($50.4 billion). Other prominent Florida billionaires include NBA legend Michael Jordan ($3.8 billion) and OnlyFans owner Leonid Radvinksy ($7.8 billion).
2. New York
Forbes 400 members: 57 (+3 from 2024), worth $690.9 billion
Richest resident: Michael Bloomberg ($109 billion)
New York remains a magnet for some of the world’s most successful businesspeople. Roughly two-thirds of the state’s billionaires made their fortunes in finance and investments, including richest resident (former NYC mayor) Michael Bloomberg, who’s worth staggering $109 billion. Other major names from the Empire State include media mogul Rupert Murdoch ($24.1 billion) and fashion icon Ralph Lauren ($12.7 billion).
1. California
Forbes 400 members: 85 (+2 from 2024), worth $1.7 trillion
Richest resident: Larry Ellison ($276 billion)
California’s reputation as a hub for Hollywood talent and tech visionaries holds strong. The state leads the nation in billionaires, with 39 of them building their fortunes in technology. Oracle founder Larry Ellison tops the list with $276 billion, overtaking Meta CEO Mark Zuckerberg ($253 billion). Other leaders of industry include Nvidia CEO Jensen Huang ($151 billion) and Google cofounder Larry Page ($179 billion). Entertainment moguls include George Lucas ($5.4 billion), Steven Spielberg ($7.1 billion) and David Geffen ($8.8 billion) also call the Golden State home.
