What does it take to be in top 1% of wealth in Mississippi?
Published 11:29 am Saturday, January 23, 2021
Windfall used its 2020 consumer financial database to determine the net worth required to rank in the top 1% of each state. The analysis used population estimates from the 2019 U.S. Census Bureau and net worth estimates from Windfall’s wealth database of more than 80 million households.
Here’s what Mississippi’s numbers look like:
– Minimum net worth of the state’s top 1%: $766,205 (299.6% more than median net worth)
– Median net worth of all Mississippi homeowners: $191,736
– Homeowners with net worth of $1 million or more: 17,035
– 2019 total population: 2,976,149
Mississippi has the lowest requirement of all 50 states for entering the top 1%, with a minimum net worth of $766,000. Residents in Madison, a suburb of Jackson, are the wealthiest in the state. Founders and owners of Capital Investors James and Thomas Duff are each worth $1.4 billion and stand as the richest billionaires in Mississippi.
For each state, the minimum net worth required to qualify in the top 1% for that state is included, along with the median net worth of all homeowners with a primary residence in that state, and total homeowners with a net worth of $1 million or more. Net worth represents an individual’s assets like homes, cars, and investments, less their liabilities like mortgage and other debt.