Where the Wealthy Live: The Top 11 States for 2011

Where the Wealthy Live: The Top 11 States for 2011 Where the Wealthy Live: The Top 11 States for 2011

1. California
California has the most ultra-high-net-worth residents, with greater than 9,800 worth more than $30 million living in the Golden State. It is the world's eighth largest economy, so its wealthiest residents come from a diverse set of industries. Among them: media, entertainment and high-tech.

Where the Wealthy Live: The Top 11 States for 2011 Where the Wealthy Live: The Top 11 States for 2011

2. New York
The majority of the Empire State's ultra-high-net-worth individuals made their money in finance and real estate.

Where the Wealthy Live: The Top 11 States for 2011 Where the Wealthy Live: The Top 11 States for 2011

3. Texas
Most Texas' super rich made their fortunes in energy and real estate development.

Where the Wealthy Live: The Top 11 States for 2011 Where the Wealthy Live: The Top 11 States for 2011

4. Illinois
Commodities and real estate created many of Illinois' ultra wealthy set.

Where the Wealthy Live: The Top 11 States for 2011 Where the Wealthy Live: The Top 11 States for 2011

5. Florida
Real estate and finance represent the main industries for the Sunshine State's ultra wealthy. Additionally, many affluent individuals from New York and California split their time between their home state and Florida to enjoy the tax benefits.

Where the Wealthy Live: The Top 11 States for 2011 Where the Wealthy Live: The Top 11 States for 2011

6. Michigan
Manufacturing and the automobile industry, plus real estate and retail, have created more than 1,000 fortunes greater than $30 million in the state.

Where the Wealthy Live: The Top 11 States for 2011 Where the Wealthy Live: The Top 11 States for 2011

7. Pennsylvania
The richest people in the state made many of their fortunes from investments and real estate--and inheritances from the large steel and banking fortunes of the early 1900s.

Where the Wealthy Live: The Top 11 States for 2011 Where the Wealthy Live: The Top 11 States for 2011

8. Ohio
Retail and banking created many of the eight-figure fortunes in the Buckeye State.

Where the Wealthy Live: The Top 11 States for 2011 Where the Wealthy Live: The Top 11 States for 2011

9. Wisconsin
The Badger State's ultra-high-net-worth made their money largely from manufacturing and retail.

Where the Wealthy Live: The Top 11 States for 2011 Where the Wealthy Live: The Top 11 States for 2011

10. Connecticut
Hedge funds and insurance are the top sources of wealth for ultra-high-net-worth individuals in the Nutmeg State.

Where the Wealthy Live: The Top 11 States for 2011 Where the Wealthy Live: The Top 11 States for 2011

11. New Jersey
Finance makes up the majority of the state's ultra-high-net-worth set. Many of these tycoons work in New York and commute from their primary residence in the Garden State.

Where the Wealthy Live: The Top 11 States for 2011 Where the Wealthy Live: The Top 11 States for 2011

Where the Wealthy Live: The Top 11 States for 2011

Wealth advisors are always on the lookout for affluent clients, which is why intelligence firm Wealth-X ranked the states with the most wealthy individuals.

With almost 55,000 ultra-high-net-worth to choose from, there is plenty of wealth to go around. More than half of the richest individuals live in just five states, yet there are opportunities outside of the usual suspects of New York and California, says Matthew Miller, the report's author.

He was surprised that although 65% of the country’s wealth was in 11 states, only three states - Alaska, Delaware, and North Dakota - had less than 100 ultra-high-net-worth individuals. “This tells me that a lot of wealth is out there,” Miller said. “And there’s a war going on for these 55,000 individuals and families. Advisors and firms have to take a look at where their strengths are and allocate their hiring accordingly.”

-Ruthie Ackerman