Angle down icon An icon within the form of an angle pointing down. The variety of millionaires residing in Austin greater than doubled over the previous decade, per a report by Henley & Companions. Evan Semones/Getty Photos The US is experiencing a “millionaire remix,” as proven by a rating of areas with the fastest-growing rich populations.The variety of millionaires residing in Austin greater than doubled over the previous decade, per a report by Henley & Companions.Austin’s inhabitants has boomed within the final decade because it cemented itself as a rising tech hub. New York Metropolis and Los Angeles do not have fairly the identical enchantment to the worldwide elite as that they had earlier than – as a substitute, cities like Austin, Scottsdale, and West Palm Seaside are drawing in large numbers of millionaires.US migration patterns of the world’s wealthiest individuals are altering because the nation undergoes what investment-migration consultancy Henley & Companions dubs a “millionaire remix.””Sensationalist headlines sometimes crop up about an impending millionaire exodus from America because of greater taxes, crime, or different home considerations,” Mehdi Kadiri, head of North America at Henley & Companions, wrote in its USA Wealth Report 2024.”Nevertheless, the info reveals web inflows remaining sturdily constructive over any multi-year interval. Reasonably than wholesale fleeing, what we observe right now is extra of a ‘millionaire remix’ inside America.” The report famous that the rising variety of millionaires residing within the US was “buoyed by relentless immigrant inflow not simply throughout the Southern border, however from expert migrant expertise chasing the enduring American dream.”The info within the report, offered by wealth-intelligence agency New World Wealth, displays each worldwide and home migration, in addition to the rising variety of folks truly changing into millionaires.These are the 5 areas within the US with the fastest-growing millionaire populations, measured because the locations with the biggest proportion progress of their millionaire populations. 5. The Bay Space, California Brandon Sloter/Getty Photos The pandemic noticed an exodus of employees from conventional enterprise hubs like New York Metropolis and San Francisco’s Bay Space, however the latter’s millionaire inhabitants has nonetheless grown considerably over the previous decade.The variety of millionaires residing within the Bay Space grew by 82% to about 306,000 between 2013 and 2023, in keeping with Henley & Companions’ report. This means a improve of about 136,000 millionaires within the area of simply 10 years.The Bay Space encompasses the cities of San Francisco, San Jose, and Oakland. Maybe most notably, the world is house to the tech hub of Silicon Valley, the place the headquarters of corporations together with Google mum or dad firm Alphabet, HP, Intel, Nvidia, and PayPal are all positioned.However some residents and enterprise leaders say that San Francisco is struggling an enormous decline, citing considerations about crime and homelessness. San Francisco’s inhabitants fell 7.5% over the pandemic, in keeping with US Census Bureau estimates. 4. Greenwich and Darien, Connecticut Greenwich, Connecticut DenisTangneyJr/ Getty Photos The millionaire inhabitants of Greenwich and Darien grew by 84% to about 12,500 between 2013 and 2023, in keeping with the report.Greenwich and the neighboring smaller city of Darien are positioned both aspect of Stamford on Connecticut’s Gold Coast. Quite a few hedge funds and financial-services corporations are positioned in Greenwich, which has constantly been ranked as one of many US’ wealthiest cities. Due to its proximity to New York Metropolis, various Wall Road bankers have houses there.In keeping with US Census Bureau knowledge, Greenwich had round 64,000 residents whereas Darien had about 22,000 as of July 2022. 3. Palm Seaside and West Palm Seaside, Florida Redtea/Getty Photos The variety of millionaires residing in Palm Seaside and West Palm Seaside grew by 93% to 10,200 between 2013 and 2023, in keeping with the report.West Palm Seaside has a inhabitants of about 121,000, whereas Palm Seaside has simply 9,000 residents, per US Census Bureau knowledge. The previous’s inhabitants grew by about 21% between 2010 and 2022, the info reveals.Migration to Palm Seaside County, a serious retiree and snowbird hub, was already excessive pre-2020. But it surely accelerated additional through the pandemic as distant employees sought a sunnier local weather, low taxes, and a greater work-life stability throughout lockdown.Mayors within the county beforehand instructed Enterprise Insider that companies — particularly monetary providers corporations — relocated there due to its pro-business surroundings and lively teams similar to its Chamber of Commerce and Enterprise Growth Board. Elliott Funding Administration relocated its headquarters from Manhattan to West Palm Seaside through the pandemic. 2. Scottsdale, Arizona Scottsdale, Arizona. antsdrone/Shutterstock The variety of millionaires residing in Scottsdale additionally doubled prior to now decade, rising by 102% between 2013 and 2023, in keeping with Henley & Companions’ report. It at present has round 14,500 millionaires, the report says.The rich desert metropolis is positioned near Phoenix and surrounded by golf golf equipment.”Scottsdale is house to a rising variety of unique golf and life-style estates and is attracting giant numbers of tech entrepreneurs from California in addition to rich retirees,” Andrew Amoils, head of analysis at New World Wealth, wrote within the report.As of July 2022, town had a inhabitants of practically 250,000, in keeping with US Census Bureau estimates. 1. Austin, Texas One good factor going for the writer was that lots of people nonetheless wish to transfer to Austin. Brandon Bell/Getty Photos The variety of millionaires residing in Austin has greater than doubled during the last decade.Between 2013 and 2023, the variety of millionaires residing within the capital of the Lone Star State grew 110% to an estimated 32,700, in keeping with knowledge within the report.The town can be house to 92 folks price greater than $100 million and 10 billionaires, the report says.Migration to Austin has boomed in recent times, together with a surge of individuals shifting to Texas through the pandemic. As of July 2022, town had a inhabitants of about 975,000, in keeping with estimates from the US Census Bureau, representing a rise of practically 1 / 4 since 2010, or about 3 times greater than the general US inhabitants progress.Austin has a booming tech scene. Oracle and Tesla each moved their headquarters to town through the pandemic and Apple, Fb, and Google all have giant presences there. A part of town has even been dubbed the “Silicon Hills.”Austin additionally performs host to the South by Southwest Music Pageant annually and has significantly decrease residing prices than the likes of New York Metropolis and Los Angeles.However some tech employees say they remorse shifting to town, citing elements together with excessive temperatures, site visitors, overcrowding, and what they described as a disappointing tech scene. New York Metropolis did not make the minimize New York Metropolis skyline CHARLY TRIBALLEAU/AFP through Getty Photos New York Metropolis’s millionaire inhabitants grew by 48% between 2013 and 2023, in contrast to an enormous 110% soar for Austin.However the metropolis nonetheless has the very best variety of millionaires within the US. As of December 2023, about 350,000 millionaires known as New York Metropolis their house — round 45,000 greater than the Bay Space, which has the second-biggest millionaire inhabitants. Austin, compared, had simply 32,700 millionaires as of December, per Henley & Companions’ report.Amoils, the top of analysis at New World Wealth, mentioned that the corporate anticipated Salt Lake Metropolis and the Floridian cities of Tampa and Naples to draw rising numbers of rich folks in coming years.Have you ever moved to – or from – one of many cities on the record? Contact this reporter at gdean@insider.com.