Phoenix has seven billionaires with a collective net worth of $24.9 billion, making it the top city in Arizona in terms of billionaire wealth, according to a new analysis from the financial news website 24/7 Wall St.

The wealthiest person in the city is Ernest Garcia III, 24/7 Wall St. reported. The website used numbers from Forbes’ Real Time Billionaires ranking to identify the city in each state with the most billionaires.

The United States is home to about 600 billionaires, the analysis found, and more than 250 cities in the nation are home to at least one resident with a net wealth that contains at least nine zeroes. 

The economies of the cities identified in the study are often closely aligned to the business interests of the billionaires living within their borders, 24/7 Wall St. reported. Seattle’s economy, for instance, benefits from being home to Amazon.com and CEO Jeff Bezos.

New York City, the nation’s most populous city, is home to more billionaires than any other municipality in the nation, the study found. And seven lower-population states – Alabama, Alaska, Delaware, New Hampshire, New Mexico, North Dakota and Vermont – have no cities with billionaires, according to the report. 

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City in Each State With the Highest Billionaire Wealth

StateCityBillionaires Living in CityCombined Net Worth of Billionaires in CityWealthiest Billionaire in CityRunner-up City
ArizonaPhoenix7$24.9 billionErnest Garcia IIITempe
ArkansasBentonville2$124.6 billionJim WaltonFayetteville
CaliforniaSan Francisco41$173.8 billionDustin MoskovitzLos Angeles
ColoradoDenver4$23.5 billionPhilip AnschutzElizabeth
ConnecticutGreenwich11$47.2 billionRay DalioBranford
FloridaPalm Beach11$61.6 billionThomas PeterffyMiami Beach
GeorgiaAtlanta12$55.1 billionJim KennedyNone
HawaiiHonolulu1$23.8 billionPierre OmidyarNone
IdahoIdaho Falls1$3.5 billionFrank VanderSlootNone
IllinoisChicago11$49.5 billionKen GriffinHighland Park
IndianaBloomington1$10.5 billionCarl CookIndianapolis
IowaAbel1$5.4 billionHarry StineNone
KansasWichita1$44.9 billionCharles KochLeawood
KentuckyLexington2$8.5 billionTamara GustavsonLouisville
LouisianaNew Orleans1$3.3 billionGayle BensonNone
MaineScarborough1$2 billionSusan AlfondNone
MarylandPotomac2$9 billionMitchell RalesChevy Chase
MassachusettsBoston10$33.9 billionEdward Johnson IIINewton
MichiganFranklin1$49.7 billionDaniel GilbertGrand Rapids
MinnesotaMankato1$2.5 billionGlen TaylorSt. Paul
MississippiHattiesburg2$2.8 billionJames and Thomas DuffNone
MissouriSt. Louis5$18.5 billionPauline MacMillan KeinathSpringfield
MontanaMissoula2$8.3 billionDennis WashingtonBozeman
NebraskaOmaha3$101 billionWarren BuffettNone
NevadaLas Vegas 6$14.3 billionSteve WynnReno
New JerseySaddle River1$7.2 billionRocco CommissoMillburn
New YorkNew York City86$446 billionMichael BloombergOyster Bay
North CarolinaCary3$15 billionJames GoodnightNone
OhioCleveland3$3.3 billionNorma LernerNew Albany
OklahomaOklahoma City3$23.2 billionTom and Judy LoveTulsa
OregonHillsboro1$51.6 billionPhil Knight and familyPortland
PennsylvaniaPhiladelphia3$10.6 billionVictoria MarsBryn Mawr
Rhode IslandProvidence1$2 billionJonathan NelsonNone
South CarolinaCharleston1$1.9 billionAnita ZuckerNone
South DakotaSioux Falls1$1.6 billionT. Denny SanfordNone
TennesseeNashville3$20.7 billionThomas Frist Jr. and familyFranklin
TexasDallas18$57.9 billionJerry JonesHouston
UtahProvo3$3.5 billionRyan JonesSalt Lake City
VirginiaMcLean2$4.7 billionWilliam Conway Jr.The Plains
WashingtonSeattle8$252.2 billionJeff BezosMedina
West VirginiaLewisburg1$1.2 billionJim Justice IINone
WisconsinRacine3$11.7 billionS. Curtis JohnsonEau Claire
WyomingJackson3$52.1 billionJohn MarsLittle Jackson Hole

Source: 24/7 Wall St.