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The U.S. economy has seen better days, but many thousands of Dallasites might not know that. A new report shows that Big D is packed with more millionaires and billionaires than ever before.
Each year, global investment consulting firm Henley & Partners publishes rankings of the world’s richest cities and the cities with the most millionaires, centi-millionaires and billionaires. Unsurprisingly, Dallas is typically a big player on the high-dollar list. In fact, Dallas is a bigger player than usual this time around.
Overall, Dallas ranks 21st in the world for the number of millionaires, with Henley & Partners reporting an astounding 72,400 residing in Big D.
But that’s not the only lofty spot Dallas grabbed in the study. When considering the number of millionaires from 2014 – 2024, the study lists Dallas as the seventh-fastest-growing wealth hub in the U.S. and 12th-fastest in the world, with an 85% growth rate.
Of course, Dallas is home to more than just millionaires. The study shows that 16 billionaires and 135 centi-millionaires (people worth at least $100,000,000) live amongst us. All of these numbers represent an increase from the previous Henley & Partners wealth study.
It’s not just Dallas showing the world the money from the Lone Star State. Houston and Austin also feature prominently in the survey. A lack of state income tax and a steady flow of corporate headquarters relocations to Texas, specifically North Texas, certainly help keep Dallas flush with deep pockets. Corporate titans with high-dollar execs like Charles Schwab and Yum! Brands are just two of the high-profile corporate relocations from out of state to North Texas in recent years, and that’s barely scratching the surface.
Let’s not forget that luxury is often more affordable in Dallas than it is in San Francisco or New York, too. If you think real estate prices in North Texas have gotten out of control, just remember that the cost of living is about 60% higher in San Francisco than it is in Dallas, while you can only get about half the house there for the same price as you can here.
Some reports suggest Dallas has even more millionaires than the latest Henley & Partners study says. Want to meet one of them? We have a few suggestions for where to go.
