Some $100 billion in wealth moved to the Southeast in 2020 and 2021, Bloomberg has reported, with about 60% of the outflow coming from the Northeast. Sun Belt cities have been adding millionaires at a faster pace than New York City over the past decade. Such shifts have strengthened local economies and created better opportunities for young graduates. JPMorgan Chase & Co. CEO Jamie Dimon has said that his company now has more employees in Texas than New York.
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