Florida Cities Occupy the Forbes List of "America's Millionaire Capitals"

Categories: Economy
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Richard $ Rich Jr.
If you've ever wondered where all the members of that oh-so-loathed "1%" that's not too hot with the Occupy Wall Street movement, look no further than Florida -- mostly South Florida.

Forbes decided to use an interesting method to figure out the rankings for its list of "America's Millionaire Capitals" -- sorting IRS filings by Zip Code, finding the highest average incomes across the country above a $200,000 annual income, and crossing cities off the list whose residents don't bank at least $1 million per year on average. (Plus some other wonky steps detailed here.)

Not surprisingly, seven of the 20 richest "millionaire enclaves" were in Florida, as far north as -- you guessed it -- Palm Beach and as far south as Key Largo.

The city with the highest net worth above $200,000 in the country is the Miami-area neighborhood Fisher Island, which has consistently been home to the most moneymakers in the nation for at least the past decade.

The average net worth for Fisher Island's few hundred residents is $57.2 million. They're a bit far from that "99%" movement.

Fourth on the list is Palm Beach, at $23.3 million, and Boca Raton is three spots below at $21.2 million. (Remember, it's only the average among people banking more than $200,000 annually.)

On down the list, Key Largo registered at 11th at an average of $17.9 million, Miami's Bay Harbor Islands was 14th at $16.6 million, Fort Lauderdale was 16th at $16.5 million, and Naples nabbed the 20th spot at $16 million even.

When Forbes' list of rich cities was reordered by average income, Fisher Island still ranked first at $3.2 million -- a little more than $1 million more per year higher than the second-highest-earning city, Purchase, New York, near White Plains.

The average income sorting knocked Fort Lauderdale, Key Largo, and Naples off the top-20 list.

The other factor Forbes sorted was "generous towns," in which Fort Lauderdale made it back on the list -- sort of.

Fort Lauderdale was near the top of that list when it was sorted in the opposite direction -- making the list of "cheap towns" -- with the rich residents donating an average of just 2.1 percent of their average income to charity.

Click here for Forbes' photo gallery of its "Millionaire Capitals" list.


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8 comments
Prof. G
Prof. G

Before he was assassinated during the Great Depression, Huey (The Kingfish) Long scared the bejesus out of FDR by gaining enormous popularity espousing his Share the Wealth program. It basically would have gradually confiscated the excessive wealth of the richest Americans and dispersed it to the poorest Americans in a sliding-scale formula. Needless to say, it did not become law. The Kingfish was gunned down in the lobby of his new capitol building in Baton Rouge. Great idea he had, though.

Alamin
Alamin

Hi,

 

Thank you for your nice article on

brow ard palm beach. It will help me.

 

Thanks  

prowest
prowest

I love to read about history of any kind, I wish everyone did, maybe they would understand that things they are doing might be harmful to the planet and to other life such as plants, wildlife, trees. shrubs, etc. Some folks don't seem to care if everything dies off because they figure they are going to die anyway. The world doesn't work that way, we need to leave a great legacy and not a terrible shambles of a world behind. Stop littering, stop smoking and throwing cigarette butts on the ground, and stop destroying nature as it is. plants use...

FQS9000
FQS9000

Every body who has any money is a thief.  The fact that they have money is clearly so very, very wrong.  Let us all get together and steal the money from the evil rich guys.  That would be wonderful for the people who can make themselves feel very nice to hand out money they never earned.  There is always somebody who would be happy to get something for nothing and lets us steal it from the rich guys.  It is of no importance that they earned the money honestly, let us just steal it.  All of us hate the rich guys, they are just bad.

Stepped On No More
Stepped On No More

So them making so much money means that they work really hard?? So all the employees that work thousands oh hours a week for them to make their product and pretty much every thing else, making pennies on the dollar compared to what they make just sitting around, means they earned and deserve to have that money. They should be paying the workers more instead of making their pockets larger by millions. Now that sounds like thevery to me. They do not work hard at all I would bet they wouldn't last more than 20 minutes in the positions they barely pay. 

SamSneed
SamSneed

You are of the 10% of crazy people that just don't understand anything and no one, rich or poor, takes seriously.

SMDrPepper
SMDrPepper

The Florida rich are assholes?  No way, would NEVER have noticed that.  Ive seen these asshats run up bills in the hundreds of dollars, run wait staff ragged, an left nothing in the way of a tip.REAL scumbags.

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