Texas is attracting wealthy families, entrepreneurs and companies, drawn by its lack of state income tax, relatively low living costs and strong business environment. Oil and gas remain important sources of wealth, particularly in Houston, but the state’s economy has become much more diverse. Private equity, property, technology, healthcare, aerospace, manufacturing and energy infrastructure now contribute to a broader wealth market.View the list

California remains one of the world’s leading centres of private wealth creation, from the Gold Rush and Hollywood through Napa and Silicon Valley to today’s AI boom. In November 2026 voters will decide Proposition 40, a proposed one-off tax of up to 5% on residents with more than $1 billion in covered net assets (including business interests, securities and intellectual property, but generally excluding real property). View the list

Latin America remains one of the most complex regions for private wealth management, driven by economic volatility, tax reform and increasing regulatory scrutiny. Ultra-high-net-worth families are increasingly structuring assets across multiple jurisdictions, with cross-border tax planning, estate structuring and succession now standard practice.View the list

For decades, the conversation around international wealth structuring centred on offshore financial centres. Increasingly, however, sophisticated US families are also looking within the United States, with states such as South Dakota, Delaware, Wyoming, Alaska and Nevada developing highly specialised trust legislation designed to attract long term private capital. Each jurisdiction has taken a slightly different approach.View the list