– Homeowners with net worth of $1 million or more: 10,558Īlaska is another of the seven states with no billionaires. – Median net worth of all Alaska homeowners: $296,411 – Minimum net worth of the state’s top 1%: $1,261,447 (325.6% more than median net worth) Rane, aka the “Yella Fella” of Great Southern Wood Preserving, made his fortune by building the modest family business into a billion-dollar company with his brother. – Homeowners with net worth of $1 million or more: 130,567Īlabama’s wealthiest man, Jimmy Rane, has a net worth of $900 million-the state is one of seven that have no billionaires. – Median net worth of all Alabama homeowners: $229,475 – Minimum net worth of the state’s top 1%: $1,803,910 (686.1% more than median net worth) Keep reading to find out what life is like for the top 1% in each state, from where they live to how they got there to who they are. This divide is primarily created by two factors: the ability of one class of people through hereditary or earned wealth to invest in the stock market and the coronavirus, which disproportionately affects those near the bottom of the economic ladder. For added perspective, Jeff Bezos, Elon Musk, and Bill Gates together are worth more than $1 trillion. The collective fortune of the country’s 10 richest billionaires to $4 trillion. billionaires increased 36% from March 18 to Dec. has ballooned in the last several decades, with the gap between the richest and poorest Americans more than doubling between 19. Net worth represents an individual’s assets like homes, cars, and investments, less their liabilities like mortgage and other debt. For each state, the minimum net worth required to qualify in the top 1% for that state is included, along with the median net worth of all homeowners with a primary residence in that state, and total homeowners with a net worth of $1 million or more. Census Bureau and net worth estimates from Windfall’s wealth database of more than 80 million households. The analysis used population estimates from the 2019 U.S. Windfall used its 2020 consumer financial database to determine the net worth required to rank in the top 1% of each state. That number represents more than 30% of all household wealth in the U.S. The top 1% of Americans have a combined net worth of $34.2 trillion, according to Federal Reserve data last updated Oct.
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