Houston tops new millionaire list from Forbes

July 15, 2011 9:19:21 AM PDT
While the nation is dealing with its debt crisis, there's one area of the country that's growing millionaires -- Houston. According to a study conducted by Capgemini and published in Forbes Magazine, Houston is the fastest growing millionaire city in the country.

The study found that millionaire growth here is in large part to the strong presence of the oil and gas industry. With the spike in gas prices over the last year, local high net worth individuals benefitted from that.

The study compared 2009 to 2010. There was a 9.6 percent increase in the millionaire population in Houston, bringing the total to approximately 96,700 people in the Bayou City with at least $1 million in investable assets.

After Houston, the other cities rounding out the top five fastest-growing millionaire cities are Los Angeles, New York, Washington DC and Boston.


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