Phoenix Marketing International Announces 2014 Millionaires By State Ranking, North Dakota Continued To Mine New Millionaires in 2014

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Its Oil Boom Moved North Dakota Up Another 9 Points In Phoenix’s 2014 Millionaires By State Ranking

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Phoenix Marketing International, a global marketing services firm, today released their annual ranking of millionaires per capita by state. The new results from their Global Wealth Monitor show Maryland again leading all states in the millionaires ranking. Please click here to view an interactive map showing all rankings, as well as details on reports available for purchase.

On the strength of its oil boom, North Dakota continued its meteoric rise in the millionaires rankings, moving up to number 20 in 2014. Its neighbor, South Dakota, however, was the biggest gainer this year, rising twelve points to number 26 on the Phoenix Millionaires By State Ranking.

Besides Maryland, the top ten states remained the same, with slight shifts: Connecticut rose one point to hold the #2 spot, followed by New Jersey (down one point), Hawaii, Alaska, Virginia (up one point), Massachusetts (down one point), New Hampshire, Delaware and the District of Columbia.

“The amazing rise of North Dakota in the millionaires rankings clearly demonstrates the power of an industry to quickly create wealth," says David Thompson, Managing Director of the Phoenix Global Wealth Monitor. “However, the states that are consistently in the top ten have much more diversified economies or are smaller states that geographically centered near wealth-generating metropolitan areas such as DC, New York or Boston," continued Thompson. For these reasons, Thompson says that it will be challenging for North Dakota to maintain its rise in the rankings once the oil boom subsides.

There were a few notable declines in the Millionaires By State Rankings: Louisiana dropped 6 points to number 38, Texas dropped 5 points to number 27, erasing gains it made last year; and Georgia lost another 5 points this year for the second year in a row, falling to number 40.

To download the latest Millionaires By State Ranking report from Phoenix Marketing International, please click here.

About the Phoenix Global Wealth Monitor
The PMI Global Wealth Monitor (GWM) provides ongoing intelligence on the attitudes, behaviors and needs of affluent and High Net Worth consumers to leading organizations in the U.S., Canada, and Europe.

Phoenix Marketing Contact:
David Thompson
Managing Director
Global Wealth Monitor

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Kristin Johnson
Phoenix Marketing International
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