A recent report shows that DFW experienced the largest jump for those with a net worth between $5-$30 million of any of the top millionaire haunts in 2018 – 2019.
The economic span of $5 to $30 million, or very-high-net-worth category, grew by 17.5 percent for Dallas-Fort Worth residents according to Wealth-X LLC, a data provider. The reports recently showed that as of 2019 DFW was home to an approximately 33,350 residents in that net worth group.
Companies offering products and services geared to the well-to-do make ample use of services such as brochure printing to market themselves.
Per a Charles Schwab survey, among those living in Dallas-Fort Worth there is a belief that $2.1 million is the average net worth required to be among the North Texas wealthy.
Six U.S. metropolitan areas are among the top 10 world regions for residents having a $5 million to $30 million net worth; the others ranked by increases in this group of millionaires are: San Francisco at 17.4 percent, New York City at 16.9, Los Angeles a little lower at 16.8 with Chicago and Washington D.C. following at 16.7 percent and 16.5 percent respectively.
Using total residents rather than percentage of increase throughout the world as supplied by Wealth-X, New York City tops the work for very-high-net-worth followed by Tokyo and Hong Kong with DFW in 10th place. Interestingly, self-made millionaires comprise the majority of those wealthy individuals.
