Net Worth of Residents in Dallas Vs. Other Cities
High net worth advisory firms have a great deal of work in the Dallas-Fort Worth area. Dallas is seeing tremendous growth when it comes to the number of high net worth individuals in the area, with some of the world’s wealthiest individuals residing within the DFW Metroplex. Here, we’ll see how Dallas compares with other cities when it comes to the net worth of its wealthiest residents.
General Stats on the Net Worth of DFW Residents
In terms of general statistics, the Dallas-Fort Worth area is home to over 33,350 individuals who are worth between $5 million and $30 million (classifying them as Very High Net Worth Individuals, or VHNWIs). In addition:
- The number of VHNWIs in DFW grew 17.5% from 2018 to 2019.
- This growth is higher than any other of the top cities for millionaires in the world.
- High net worth individuals in Dallas alone (those with wealth between $1 million and $30 million) numbered 298,220 people in 2018.
- DFW is home to 25 billionaires, including a number of multibillionaires.
High Net Worth Individuals in Dallas
In terms of high net worth individuals in Dallas alone, the following are some of the wealthiest (as of 2019):
- Andrew Beal, a real estate and banking investor with a net worth of $9.1 billion.
- Jerry Jones of the Dallas Cowboys, who has a net worth of $6.8 billion.
- Robert Rowling, founder of TRT Holdings, is valued at $5.3 billion.
- Ray Lee Hunt, who made his fortune investing in oil and real estate, is worth $4.7 billion.
- Trevor Rees-Jones, who is valued at $4.3 billion.
- Mark Cuban, valued at $4.1 billion.
- H. Ross Perot Sr., who also has a net worth of $4.1 billion.
- Kelcy Warren, who again is worth $4.1 billion.
- Gerald Ford, who has a net worth of $2.7 billion.
- Ray Davis, valued at $2.4 billion.
It’s worth noting that in Fort Worth is Alice Walton, who inherited Walmart’s fortune and is valued at a whopping $44.4 billion as of 2019. The next wealthiest billionaire in Fort Worth is Robert Bass at $4.9 billion.
When comparing these billionaires with the wealthiest in the United States, the top three (as of 2019) are:
- Jeff Bezos (Amazon CEO) at $131 billion in Medina, Washington.
- Bill Gates at $96.5 billion in Medina, Washington.
- Warren Buffet (CEO of Berkshire Hathaway) at $82.5 billion in Omaha, Nebraska.
How the Wealthy in Texas Compare with Other States
In terms of the cities with the most millionaires in the world, Dallas ranks tenth on the list as of 2018. Focusing only on those in the United States, Dallas comes in sixth place. The other cities on the list include:
- New York, which had 978,810 high net worth individuals.
- Los Angeles, with a HNWI population of 576,255.
- Chicago, with 353,775 HNWIs.
- San Francisco with an HNWI population of 314,055.
- Washington, D.C., which had a HNWI population of 301,495.
When it comes to billionaires, Dallas is fairly far behind the city with the most billionaires in the world, which is again New York with 92 as of 2020. As a point of interest, the wealthiest billionaire in New York is Michael Bloomberg, who has a net worth of $48 billion.
Overall, Dallas has seen a great deal of growth in terms of the net worth of its residents, and that growth seems likely to continue into the future. High net worth management is key to the continued success of these individuals, of course, but as long as their investment portfolios are well managed, they’ll continue onward and upward.