Henley & Partners is a London-based investment migration consultancy. It recently released its 2024 USA Wealth Report estimating growth in the number of new millionaires from 2013 to 2023. Chicago ranked last at 22%, far lower than the national average of 62%. Austin topped the list at 110%. The full results of the analysis are below.
The good news is that Chicago still has lots of millionaires — 120,500, ranking fourth on their list.
Further good news in the introduction to the report is that the wealthy are not fleeing America. There’s no “impending millionaire exodus from America due to higher taxes, crime, or other domestic concerns.”
However, rather than wholesale fleeing, Henley says, “what we observe today is more of a ‘millionaire remix’ within America. Cities such as Austin, Miami, and Scottsdale are gaining residents, while traditional hubs such as Los Angeles, New York, and Chicago experience modest declines.”
“Good riddance,” many of Chicago’s progressives will no doubt say about lost millionaires, “equity” being more important to them. But study after study shows Chicago and the State of Illinois failing miserably even based on “equity” standards, and they’ll eventually learn the hard way that the millionaires pay an outsized portion of the bills.
-Mark Glennon
Audio and summary 
If this bill passes, say goodbye to local control over all Illinois parks and expect to see open drug and alcohol use, needles, no sanitation and fire hazards, but no ordinary park users.
That Washington, D. C. appears anywhere on this list, let alone as #4, tells you all you need to know about how bloated the influence of the Federal Government is. Nothing real is made in DC. The principal economic activity in the city is to transfer wealth from taxpayers and future taxpayers to those seeking advantage. Rent seeking must pay well. Nobody lives in DC for the weather.
Maybe true for On the Books but what about all those Off the Books. All that money the Feds handed out was not used and accountability is vague at best.
And, I wonder how many of Illinois shrinking +$millionaires$ are made up of are public sec pension hero’s??
If your wealth is effectively hidden in offshore accounts in the Bahamas or Grand Cayman in tax avoidance schemes, does it matter where you live?
The really wealthy don’t bother to pay taxes, just ask the Pritzker’s.
Well you have to have some experience with plumbing fixtures……
The “ Usual gang of idiots “ continues to
Tax their way to oblivion. They do not give
A rats a.. about voters. The wave of people
Including wealthy grows by the week.
Will the last millionaires leaving be so kind and turn out the lights.
Any financial stats reported by Wirepoints are usually good news for those of us that live in red states. (It must be depressing as hell for those that live in Chicago or Illinois.)
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Yup, WP is feel good thearapy for those smart enough to have gotten out
The good news is that soon Chicago won’t be included in any study of major cities, as it continues to lose residents. Silver linings!
Spot on Ex. You’ll notice that Detroit wasn’t even mentioned in this study but then again it’s no longer a major city.
At one time it had the highest per capita income in the world and plenty of auto related millionaires.