Rich Getting Richer

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

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

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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.

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Fun times in the city

Dallas swings a spot on new list of most fun cities in U.S. for 2024

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Dallas just wants to have fun, according to WalletHub's new ranking of the most fun cities in America in 2024.

The annual report ranked Dallas No. 31 out of 182 U.S. cities.

WalletHub's experts compared each city using 65 metrics to determine their level of "fun." Metrics were split among three main categories: entertainment and recreation, nightlife and parties, and cost.

According to the study's findings, Dallas was 24th nationally in the category for nightlife and parties, and ranked No. 39 in the "entertainment and recreation" category. That may be especially alluring for anyone who wants to explore the city's vast entertainment opportunities (especially during the holiday season), family-friendly recreational activities, top dining destinations, and more. Plus, Dallas is home to entertainment juggernauts like the State Fair of Texas and TopGolf.

Dallas performed poorly in the overall cost category, earning No. 114 out of all 182 cities. However, this category mostly compares flat costs rather than affordability based on local cost of living.

Potential new Dallasites should do their research before deciding to move here, rather than basing their decision on short trips and vacations alone. But we won't blame them for wanting to live in one of the best cities in the world.

"The top cities offer affordable options for year-round fun for their residents, which is good for residents’ wallets and their mental health," said WalletHub analyst Chip Lupo in the report.

Austin (No. 6) and Houston (No. 9) were the only Texas cities to earn a spot in the top 10 most fun U.S. cities list. Austin moved up one spot from last year, while Houston made a 10-place jump.

Other fun-filled Texas cities that made it in the top 100 are El Paso (No. 53), Fort Worth (No. 55), Plano (No. 78), Arlington (No. 79), and Corpus Christi (No. 99).

The top 10 most fun U.S. cities are:

No. 1 – Las Vegas, Nevada
No. 2 – Orlando, Florida
No. 3 – Miami, Florida
No. 4 – Atlanta, Georgia
No. 5 – New Orleans, Louisiana
No. 6 – Austin, Texas
No. 7 – San Francisco, California
No. 8 – Chicago, Illinois
No. 9 – Houston, Texas
No. 10 – New York City, New York

Cities were evaluated based on the number of attractions per capita, nightlife activities per capita, the average prices for eating at a restaurant or buying a movie ticket, and more. Data was sourced from the U.S. Census Bureau, The Trust for Public Land, and the Council for Community and Economic Research, among others.

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