Mar 3, 2023 - News

Austin millionaire growth highest in the U.S.

Asher Price

Illustration of a person sitting on top of a pyramid of gold bars. — Illustration: Shoshana Gordon/Axios

Austin saw a millionaire growth rate of 102% from 2012 to 2022, per the recently published USA Wealth Report, by UK-based consultancy firm Henley and Partners — the biggest jump in the country.

In December 2022, Austin was home to 30,500 millionaires, 86 centi-millionaires, and nine billionaires.

What they're saying: "With no state income tax and abundant space, Austin has been a growth market for luxury real estate," per the report's analysis, "with the metro in particular gaining from internal migration due to tech firms such as Amazon, Google, Meta, SpaceX, and Tesla expanding their presences, and Apple investing USD 1 billion in a new campus."

Between the lines: Henley and Partners advises clients on where to move their families and businesses to find favorable tax situations.

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Austin millionaire growth highest in the U.S.

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