Washington ranks No. 4 for millionaires

The Washington region is rich with millionaires, ranking No. 4 in the nation for high net wealth individuals in 2013.

The annual Capgemini RBC Wealth management U.S. Wealth Report says 221,000 individuals in Washington, D.C. have investable assets of a million dollars or more, excluding real estate holdings. The number of Washington millionaires grew by 15.6 percent last year.

The net worth of Washington’s millionaires rose by 19.3 percent to a combined $886 billion in 2013, also in fourth place.

New York, Los Angeles and Chicago ranked higher than Washington for high net wealth individuals. Washington tops San Francisco, Boston, Houston, San Jose and Dallas.

New York is still home to the most millionaires with 894,000 of them, three times second-ranked L.A. New York’s high net worth individuals are worth a combined $3.2 trillion. Even so, New York’s wealthy saw their net worth grow at the second slowest pace in 2013, at 12 percent.

Nationwide, the number of high net worth individuals rose to a new record in 2013, up 17 percent to 4 million. Their combined investable wealth rose by 18 percent, to $13.9 trillion.

Federal News Network Logo
Log in to your WTOP account for notifications and alerts customized for you.

Sign up