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Maryland Ranks No. 1 In Millionaires In 2018

is the richest man in Maryland. He is No. 294 on the most recent Forbes list with a net worth of $5.3 billion. In 1952 Lerner borrowed $250 from his wife to start a real estate company, selling homes for developers. Now he owns 20 million square feet of ...

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Maryland has more millionaire households in the United States with $5 million or more in assets and the number of top 1 percent residents increased nationally to 1.1 million Americans in 2017, mostly in "blue" statesA new analysis says the richest Americans are overwhelmingly concentrated in states that were carried by Democrats in at least three out of the four past presidential electionsThe GOP tax bill with its new limits on itemized deductions of state and local income and property taxes, or mortgage interest, should have a greater affect on wealthy residents in Maryland and other blue states, says the annual Wealth & Affluent Monitor published by Phoenix Marketing InternationalThe study's authors call the wealthiest U.Shouseholds "penta-millionaires." States with the highest concentration of these $5 million or more households include New Jersey, Maryland, Connecticut, and Hawaii, all traditionally blue statesNo5 ranked Alaska is the only red state in the top tenOther top 10 blue states include Massachusetts, New Hampshire, Virginia, and the District of Columbia"The historic and continuing gains in the capital markets means that the concentration of wealth in fewer and fewer hands continues unabated," said David Thompson, Managing Director, Affluent Practice, at Phoenix Marketing International"We were surprised to find that Penta-Millionaires are living in an overwhelming preponderance of blue statesGiven all of the talk about rich Republicans, we would have expected to see more red states on the listForbes and other rankings continue to show that Ted Lerner of Chevy Chase, developer and founder of Lerner Enterprises and Washington Nationals owner, is the richest man in MarylandHe is No294 on the most recent Forbes list with a net worth of $5.3 billionIn 1952 Lerner borrowed $250 from his wife to start a real estate company, selling homes for developersNow he owns 20 million square feet of commercial and retail space, plus hotels, and 7,000 apartmentsIn the past year, the rich got richer, the PMI analysis showsThe 1 percent wealthiest Americans added about $214 billion in wealth over the past year, and now control 26.2% percent of the liquid wealth in the U.S., or about $9.7 trillionMillionaire households now total about 7.2 million households nationallyThe concentration of wealth also continued at the top of the wealth pyramid, says PMIOverall, U.Saffluent households (those having $100,000 or more in investable assets) numbered roughly 30 percent of households (38.1 million), but controlled over 91 percent of wealthSEE ALSO: Maryland's Billionaire's Club Drops To 8 Members In 2017 7 Maryland Billionaires Make Forbes 400 Richest List For 2017 The 2017 Phoenix Wealth & Affluent Monitor shows few changes in the top 10 states ranked by the ratio of millionaire households to total householdsThe top state rankings of millionaires are: Maryland (7.87%) – remained No1, where it has been since 2011New Jersey (7.86%) moved up one place in 2017Connecticut (7.75%) moved down one placeHawaii (7.57%) – unchanged from 2016Alaska (7.50%) – unchanged from 2016Massachusetts (7.41%) – unchanged from 2016New Hampshire (7.36%) – unchanged from 2016Virginia (6.98%) – unchanged from 2016Delaware (6.62%) up one place from 2016California (6.61%) – up one place from 2016.Methodology The Wealth & Affluent Monitor sizing estimates in the U.Sare developed using a combination of sources including the Survey of Consumer Finance as well as Nielsen-ClaritasThe SCF provides the framework and allows us to determine the general distribution of households by their level of investable assetsEstimates are further refined using the age and income distributions provided by ClaritasInvestable assets include education/custodial accounts, individually-owned retirement accounts, stocks, options, bonds, mutual funds, managed accounts, hedge funds, structured products, ETFs, cash accounts, annuities, and cash value life insurance policiesRead the full analysis on the Phoenix Marketing International websitePHOTO: Theodore N"Ted" Lerner, right, Managing Principal Owner of the Washington Nationals and his daughter Marla Lerner Tanenbaum and Principle Owner of the Washington Nationals baseball team before the start of a game against the Miami Marlins at Nationals Park, Monday, Aug28, 2017, in Washington(AP Photo/Pablo Martinez Monsivais)Subscribe Back to the Parkville-Overlea Patch More from Parkville-Overlea PatchUp next on Parkville-Overlea Patch Hamster Flushed At BWI Sparks Lawsuit: Patch PM Parade Ban | Hamster Flushed | Silent Memorial: News Nearby National Pizza Day 2018: Where To Find Free Food & Hot Deals ga("send", "event", "taboola", "served", "impression", 1, { "nonInteraction": 1 }); 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