Austin dethroned as millionaires flock to Arizona city

The company reported a 183 percent increase in the first quarter of 2025 compared to the same period last year, in inquiries from U.S. nationals for alternative residence and citizenship, as high-net individuals seek to diversify their portfolio and protect their assets from volatility in the markets.

"In an era of rising geopolitical volatility, we... See more

While Austin was the fastest-growing millionaire hub in the nation in Henley & Partners' 2024 report, this year it does not even feature in the top five. It has been dethroned by Scottsdale , which between 2014 and 2024 has seen its millionaire population grow by 125 percent.