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When It Comes to Multi-millionaires, Blue States Dominate

Monday, 1 Oct 2012 | 2:37 PM ET
Alexandra Grablewski | Riser | Getty Images

If the Democrats are waging class warfare, it’s largely against their own voters.

New data from the research firm Wealth-X shows that the bluest of blue states have far and away the largest number of residents worth at least $30 million.

California and New York have the highest number of $30-million plus residents (known as ultra-high net worths), with a total of 10,955 and 8,595 respectively.

According to Wealth-X, blue states have three quarters of the nation’s ultra-high net worth residents. Granted, it's no surprise that California and New York have the bulk of rich residents. Yet even without those two, the blue states still lead with about 26,000 individuals, versus some 15,000 in the red states.

Leading the pack among red states is Texas, with 5,890 ultra-high net worth residents. Georgia ranked second on the GOP side, with 1,110.

“The great irony that emerges from this UHNW market research is that contrary to the popular conception that the ultra-wealthy are more Republican leaning, the UHNW population for blue states is almost four times that of red states,” said David Friedman, president of Wealth-X. (Read more: Romney Leads Among Wealthy Women)

Below is the complete list of state populations of UHNW residents – and voters. Wealth-X categorizes some swing states as either red or blue, even though they vote nearly equally Democratic or Republican, and tend to be counted as "purple."

States Ranked By Ultra-High Net Worth Individuals

Blue States Red States
California 10,955 Texas 5,890
New York 8,595 Georgia 1,110
Florida 3,650 Arizona 910
Illinois 2,780 Tennessee 815
Michigan 1,700 Oklahoma 800
Pennsylvania 1,620 Missouri 760
Connecticut 1,345 Arkansas 560
Ohio 1,330 Kansas 560
Wisconsin 1,295 Alabama 380
New Jersey 1,275 Kentucky 375
Virginia 1,200 Louisiana 375
Washington 1,195 Montana 340
Minnesota 1,125 Nebraska 300
Maryland 1,060 South Carolina 295
Massachusetts 995 Wyoming 295
North Carolina 945 Mississippi 265
Colorado 925 West Virginia 205
Indiana 830 Idaho 190
Nevada 495 Utah 190
District Columbia 475 South Dakota 145
Oregon 380 North Dakota 55
Rhode Island 260 Alaska 50
Hawaii 200
Iowa 200
New Hampshire 180
Vermont 135
New Mexico 130
Maine 85
Delaware 55
BLUE STATE TOTAL 45,415 RED STATE TOTAL 14,865
Source: Wealth-X



-By CNBC's Robert Frank
Follow Robert Frank on Twitter:
@robtfrank

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  • A reporter and editor, Robert Frank is a leading authority on the American wealthy for CNBC.