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Money

California is The Richest Place on Earth

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Thu, Mar 8, 2012 at 12:57 PM

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  • zoonabar
Haters like to say that L.A. is turning into Mexico City and that California's golden days are long past.

Well, we hate to break it to you, but happy days are here again.

At least for the rich of the Golden State.

California ranks number one ...

... in a Business Insider analysis of the richest states in the richest country on the planet.

The publication looked at IRS data and ranked states with the most folks worth $2 million or more in net worth. We topped the list with 329 ... thousand of those people. That's right, 329,000.

Put it another way: 1.2 percent of us, one out of 100, is this rich. Yep, that's a 1 percenter alright. (Nationally it takes only $343,927 to join the top 1 percent of income earners. Only).

We beat out the next richest state, New York, which only had 160,000 of these people. Florida was close behind with 155,000.

Last year we calculated that if California was a country it would rank only behind the U.S., China and Russia in billionaire population (there are a lucky 88 of them here).

So why are our schools falling apart? Why is L.A. a cesspool of potholes? Why doesn't our skyline look like Dubai's?

Well, as mama always said, rich people don't get that way by spending money.

[Spotted at LA Biz Observed, which also has a list of L.A.'s richest people today].

[@dennisjromero / djromero@laweekly.com / @LAWeeklyNews]

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