NEW YORK CITY (PIX11) – New York used to have more millionaires than Florida and Texas. Not anymore, according to a new study from the Citizens’ Budget Commission.

In 2010, New York had 12.7% of the country’s millionaires, second only to California. By 2022, New York had only 8.7% of the world’s millionaires, according to the study.

Because of the drop, the state and New York City missed out on over $13 billion in tax revenue.

“New York’s millionaires are critically important to the fiscal and economic viability of New York. There is perhaps no better way to fund critically needed services than to retain and grow millionaires in New York,” said Ana Champeny, Vice President for Research.

The number of millionaires in New York still grew significantly between 2010 and 2022, from about 36

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