The wealthy keep on growing: According to the U.S. Wealth Report 2015 released yesterday by Capgemini, the population of U.S. high net worth individuals, or HNWIs - defined as those with at least $1 million in investable assets aside from their residence - reached a record 4.4 million in 2014.That figure grew by 8.6 percent last year, and overall U.S. HNWI wealth expanded by a 9.4 percent increase to reach $15.2 trillion.
While New York remains the city with the highest HNWI population overall, the numbers are actually growing much faster in other parts of the nation. The top six cities for HNWI growth were in Texas and the West Coast, driven in large part by a strong real estate markets there.
The city with the fastest growing HNWI population in 2014 was Houston, at 14 percent. Seattle was second at 12 percent. Chiccago was the major city with the slowest HNWI growth.