Rich Getting Richer

Dallas-Fort Worth cashes in with big increase in ultra-wealthy residents

DFW's ultra-rich population is on the rise.

joe daniel price/Getty Images

Just as Dallas-Fort Worth’s population is growing rapidly, so too is its population of ultra-wealthy people.

A report released October 7 by Wealth-X shows that DFW saw the biggest jump in super-rich residents — 17 percent from 2018 to 2019 — among U.S. metro areas with the largest populations of ultra-high-net-worth individuals.

The data shows that DFW was home to 3,165 ultra-high-net-worth (UHNW) individuals last year, landing it at No. 10 among ultra-wealthy cities in the world.

Wealth-X, which which provides data and analysis about wealthy consumers, defines UHNW as those with a net worth of more than $30 million.

Included in the Metroplex's ultra-wealthy crowd are 14 billionaires who earned spots on this year’s edition of the Forbes 400. Leading the DFW pack is Walmart heiress Alice Walton of Fort Worth, with a net worth estimated at $66.5 billion as of October 6. Among Texas’ metro areas, DFW boasts the most billionaires.

New York City topped Wealth-X’s worldwide list, with 10,435 UHNW individuals. Other U.S. metros joining DFW and NYC in the global top 10 are Los Angeles; Chicago; San Francisco; and Washington, D.C. Hong Kong, Tokyo, Paris, and London round out the list.

The average net worth of a UHNW individual in 2019 was $122 million. Billionaires represented just 1 percent of the global UHNW population, yet their cumulative wealth amounted to a 27 percent share ($9.4 trillion).

According to the report, the worldwide ultra-wealthy sector expanded by 290,720 people from 2018 to 2019, an increase of 9.5 percent. Meanwhile, their combined net worth climbed 9.7 percent to $35.4 trillion.

North America witnessed the most substantial UHNW gains from 2018 to 2019. The number of ultra-wealthy individuals rose 14.5 percent to 105,080, representing a 36 percent share of the global UHNW class. In the same period, the collective net worth of UHNW individuals in North America shot up by 14.4 percent to $12.4 trillion.

The economic upheaval caused by the coronavirus pandemic has shifted the wealth landscape, though. For instance, Wealth-X says North America’s UHNW population dipped by 1 percent from December 2019 to August 2020, and their wealth shrank by 3 percent.

lists reports forbes

Animal News

Dallas animal shelter invites residents to host a pet during holiday

DAS

Husky at Dallas Animal Services

Dallas Animal Services (DAS) is inviting the community to help bring pets “Home for the Holidays” by adopting or fostering during one of the shelter’s busiest times of the year.

DAS has achieved strong positive outcomes this quarter, including adoptions, foster-to-adopt placements, and underage foster placements, with 1,377 in October and 1,378 in November. The department is now working toward a December goal of 1,400 positive outcomes, with 588 completed so far this month.

“We are grateful for the support our community continues to show,” said Victoria Chittam Bennett, Assistant Director. “Every adoption opens a kennel for another pet in need, and the holidays are an especially meaningful time to welcome a new companion.”

This season, adopters will also have the chance to participate in the Friends of Dallas Animal Services (FODAS) 12 Days of Holiday Giveaways, fully funded and supported through donations from generous community supporters. For more information about this initiative, visit friendsofdas.org and watch out for announcements on social media.

Holiday staycations
Residents who may not be ready to adopt can still support DAS pets by participating in Silent Night Holiday Staycations, a short-term foster opportunity that gives dogs a relaxing break from the shelter during the holiday period.

Pickup dates are scheduled for December 20-21, with drop-off options on December 27-28 or January 3-4. Participants typically spend 1-3 hours at the shelter selecting a foster match, and contact with pets outside the home should be limited. Questions may be directed to DASFtA@dallas.gov.

“Holiday Staycations allow our dogs to decompress and show their personalities in a home environment,” said Amanda Earl, Assistant Director. “The insight we receive from these foster stays is invaluable in helping pets find permanent homes.”

DAS encourages the community to adopt, foster, volunteer, or share adoptable pets to help meet December’s lifesaving goals.
“Together, we can bring home the holidays for the pets relying on us,” said Director Paul Ramon.

For more information on adoptable pets, holiday programs, or ways to get involved, visit https://bedallas90.org/ or stop by the DAS Shelter at 1818 N. Westmoreland Rd.

animals