Business · Companies · 4 hrs ago
Florida's Billionaire Population Rises to 138, Closing in on New York
Florida had 138 billionaire residents, up from 91 in 2022, according to Forbes.
That puts the state third behind California and New York, which had 255 and 153 billionaires respectively.
Margit Brandt, a luxury real estate agent in Palm Beach, says more billionaires are moving to Florida and expects the trend to continue.
She says taxes and lifestyle both attract wealthy buyers, pointing to Palm Beach's schools, restaurants, infrastructure and healthcare.
The broader shift comes as New York City has lost domestic residents: a Citizens Budget Commission analysis found it lost about 114,000 more people to other parts of the country than it gained in 2025.
New York Gov.
Kathy Hochul has urged wealthy people to stay or return, warning that losing their tax contributions could threaten funding for social programs.
Brandt expects the movement to Florida to continue, but the figures do not establish why each billionaire moved.
Florida has 138 billionaire residents, up from 91 in 2022, according to Forbes.
That puts Florida third nationally, behind California with 255 and New York with 153.
Palm Beach luxury real estate agent Margit Brandt said she expects billionaire arrivals in Florida to continue.
Brandt cited taxes and lifestyle, including schools, healthcare and hospitality, as reasons wealthy people are drawn to the area.
- Who
- Florida has 138 billionaire residents, according to Forbes. Palm Beach luxury real estate agent Margit Brandt commented on the trend.
- What
- Florida’s billionaire population has risen to 138, bringing it closer to New York’s 153.
- When
- The figures were reported on October 29, 2026. Florida had 91 billionaires in 2022.
- Where
- Florida, with Brandt discussing Palm Beach; the comparison is with New York and California.
- Why
- Brandt cited taxes and lifestyle, including schools, healthcare and hospitality, as factors attracting wealthy people to Florida.
Florida’s wealthy arrivals
New York’s effort to retain wealthy taxpayers
Migration
Florida’s wealthy arrivals
Brandt said billionaire arrivals in Florida have increased and she expects the movement to continue.
New York’s effort to retain wealthy taxpayers
Gov. Kathy Hochul urged high-net-worth individuals to remain in or return to New York.
Taxes
Florida’s wealthy arrivals
Brandt said taxes are a major reason wealthy people move to Florida.
New York’s effort to retain wealthy taxpayers
Hochul acknowledged that New York competes with states that have a lower tax burden and warned that losing wealthy taxpayers could threaten funding for social programs.
Florida had 91 billionaire residents.
New York City lost roughly 114,000 more domestic residents to other parts of the United States than it gained, according to a Citizens Budget Commission analysis.
Fox Business reported that Florida had 138 billionaire residents, compared with 153 in New York and 255 in California.
- Florida billionaires
- 138
- Florida billionaires in 2022
- 91
- New York billionaires
- 153
- California billionaires
- 255
- Florida’s national ranking
- Third
- New York City domestic population loss in 2025
- Roughly 114,000 more residents lost than gained
What people are saying
We've seen more movement than ever before of billionaires coming to Florida, and we anticipate that will continue.
I think the biggest thing is taxes, but it's also a lifestyle.
in competition with other states who have less of a tax burden