Austin's Tech Boom Fuels Surge in Millionaires, Ranking it Among Fastest-Growing Wealthy Areas in the US

Benzinga

Austin, TX, is leading a "millionaire remix," according to a report from Henley & Partners. Austin experienced a surge in its millionaire population, with an increase of over 100%, reaching about 32,700 millionaires between 2013 and 2023. The Bay Area and Greenwich/Darien saw over 80% growth, bringing their millionaire counts to around 306,000 and 12,500, respectively. Palm Beach, West Palm Beach, and Scottsdale each grew their millionaire populations by over 90% to around 10,200 and 14,500 millionaires.

Transcript

00:00 It's Benzinga and here's what's on the block.

00:02 Austin, Texas is leading a millionaire remix according to a report from Henley and Partners.

00:07 Austin experienced a surge in its millionaire population with an increase of over 100%,

00:10 reaching about 32,700 millionaires between 2013 and 2023. The Bay Area and Greenwich Darien saw

00:17 over 80% growth, bringing their millionaire counts to around 306,000 and 12,500, respectively.

00:23 Palm Beach, West Palm Beach, and Scottsdale each grew their millionaire populations by over 90%,

00:27 to around 10,000 and 14,000 millionaires. Factors driving migration included business

00:32 opportunities, tax benefits, desirable climates, and lifestyles. For all things money, visit

00:36 Benzinga.com.

Category

Transcript

Recommended