California Millionaire Migration Trends

SOURCE www.sfgate.com
Despite claims of a California exodus, the state saw a 66% increase in millionaire residents between 2019 and 2021, with the highest number of millionaires compared to other states. In-state migration was centered around residents moving inland from coastal cities.

Key Points

  • 66% increase in millionaire residents in California between 2019 and 2021
  • California has the highest number of millionaires compared to other states
  • In-state migration from coastal cities to inland areas

Pros

  • California saw a 66% increase in millionaire residents between 2019 and 2021
  • The state has the highest number of millionaires compared to other states

Cons

  • The booming tech sector in California has slowed down, leading to layoffs