When It Comes to Multi-millionaires, Blue States Dominate
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|
|District Columbia||475||South Dakota||145|
|BLUE STATE TOTAL||45,415||RED STATE TOTAL||14,865|
-By CNBC's Robert Frank
Follow Robert Frank on Twitter: @robtfrank