An excerpt from the NY Times -
Why So Many Billionaires Live in California
Blame Silicon Valley.
By Soumya Karlamangla
 | |
| From left, the Facebook creator Mark Zuckerberg, and the Google cofounders Larry Page and Sergey Brin.Credit...From left: Eric Thayer for The New York Times, Fred R. Conrad/The New York Times, Kelly Sullivan/Getty Images |
Of the 100 wealthiest people in America, 26 live in California.
That’s more than any other state, and not simply a byproduct of California’s large population. If the country’s 100 top billionaires were evenly distributed, we would expect just 12 of them to reside here.
Yes, this is largely because of Silicon Valley. But it’s also a reflection of the fact that California has the fifth-largest economy in the world, said Richard Walker, an emeritus professor at U.C. Berkeley who studies economic geography.
“California has been the main engine for American growth for the last 50 years,” Walker told me. “This is not sufficiently acknowledged — how immense the California economy is.”
https://www.nytimes.com/2022/03/08/us/billionaires-california.html
No comments:
Post a Comment