Even though New York State has some of the highest taxes in the United States, it is home to the ultra-wealthy. More millionaires live in New York City than in any other city in the world, according to Forbes,

With 107 billionaire residents, worth over $640 billion, The Big Apple is home to more three-comma club members than any other city on the planet.

The Chamber of Commerce says New York is the third richest state in the United States. Of the 724 billionaires living in the United States, 126 billionaires live in New York State (as of 2021), according to Forbes.

Who Is The Richest Person In New York State?

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The richest person in New York State is billionaire Michael Bloomberg. According to Forbes, his net worth is currently $76.8 billion.

Michael Bloomberg, who is 80 years old, was born on February 14, 1942. He is not a native New Yorker; he was born in Medford, Massachusetts. Bloomberg attended and graduated from Johns Hopkins University and Harvard Business School. If his name sounds familiar to you it's because he was the Mayor of New York City from 2002 to 2013. His immense wealth comes from his media empire.

Michael Bloomberg cofounded financial information and media company Bloomberg LP in 1981.

The second richest person in New York State has about $20 billion less than Bloomberg. Julia Koch and her children have a current net worth of $56 billion.

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Rich People Are Moving Out Of New York State And Moving To These 5 States

Unfortunately for New York, high-income earners are moving out of the state. A new 2022 study, says that rich people are moving out of NY at an alarming rate. Households are considered high-income earners if they make more than $200,000 per year. While they only make up 7 percent of tax filings across all 50 states and D.C., their absences can have big impacts on state budgets,

When a state loses more high-earning tax filers than it gains in a given year, tax revenues may decline and the state’s fiscal situation may worsen.

 

Read more about where rich people are moving to from New York here

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