Florida’s #1 In the World for Wealth Migration & What’s Really Behind the Shutdown Showdown – Top 3 Takeaways, October 2nd, 2025
Takeaway #1: It’s not just about healthcare for illegal immigrants...
It’s about attempting to make COVID-era welfare permanent. As we’ve entered day two of the partial government shutdown the talking points by both sides are defined. Democrats say they’re fighting to prevent cuts to healthcare, while Republicans are saying they’re not going to vote to pay for the healthcare of illegal immigrants. But what’s really taking place here? The so-called American Rescue Act, aka the ‘Bidenflation Act, included significantly enhanced ACA policy subsidies that are now ending. If there’s anything you probably enjoy doing when it comes to paying for health insurance, it is not just paying for yours but also for almost everyone who’s on Obamacare too. Due to the extensive subsidies put in place a whopping 92% of all people on ACA plans are subsidized by you and me. Democrats are now demanding that these subsidies, that have shifted 75% of the cost of these plans from those using them, to you, be kept in place permanently. But wait there’s more because Democrats are also demanding that work requirements for Medicaid recently put in place through President Trump’s One Big Beautiful Bill Act be rescinded too. So, to be clear, Democrats believe those who chose not to work should have healthcare paid for by you. That’s what’s really in play here. Republicans are right not to give in and not to budge and inch. And in the meantime, when will the permanent firings of non-essential government employees begin?
Takeaway #2: Number 1 in the World...
For where the wealthy want to be. Florida has a lot going for it. This you know. Florida has been the top relocation destination post pandemic. This we’ve also known. Florida has been the top beneficiary of wealth migration from those relocating from across the country. This has also been known for several years but consider this. You probably didn’t know that Florida has now added over $180 billion in adjusted gross income through migration over the past five years, having added well over 100,000 net higher-earner households (defined as those earning over $200k per year). And on that note, Florida’s now number one for where the ultra-wealthy want to be not just in the country, but from anywhere in the world. Altrata’s World Ultra Wealth Report for 2025 is out and what is shows is that Florida’s poised for incredible growth with the world’s ultra wealthy. The report focuses on “ultra-high net worth” individuals (defined as those with a net worth of at least $30 million) around the world and highlight's location and migration trends. A couple of quick and related points. There are already more ultra-high net worth individuals living in the United States than the next nine countries combined. Also, more ultra-high net worth individuals are expected to be created in the United States than any other country through the rest of the decade in the advent of the AI age, and more relocating ultra-high net worth individuals are looking to relocate the United States than any other place. But for those of the greatest means, whether they’re already in this country or looking to relocate from other countries, are looking to come here. Florida is the top destination in the world for the relocation of ultra-high net worth individuals for the rest of the decade. Over the next five years Florida’s population of the super wealthy is expected to rise by 8.8% per year! And about now you might be thinking...ok great, other than Florida becoming more crowded and probably more expensive...
Takeaway #3: What does this mean to me?
The answer is a lot actually. In large part due to the success of Florida’s best-in-the-country ability to attract businesses and high net worth individuals our economy continues to perform considerably better than the rest of the country’s. Florida’s economy continues to be the top ranked in the country with an economy that’s continued to grow at about twice the rate of the rest of the country. Florida has a much lower unemployment rate than the national average, much higher wage growth than the national average including the fastest growth in high wage jobs in the country. And somewhat surprisingly most recently, Florida’s inflation rate is lower than that of the country’s. But as for what the best-in-the-world high net worth migration into our state over the rest of the decade will mean? An estimated $20 billion in annual GDP contributions to Florida’s economy – raising the state’s economic growth rate by about 1% more than what it would otherwise be, adding $53 billion in additional real estate demand (driving 30% higher average property values), greater than $2 billion in locally directed charitable giving resulting in the creation of 153,500 jobs than would otherwise be created with wages averaging 41% more than the typical job in this state pays today. And most specifically what all of this means to you... The average household income is projected to be $1,350 higher annually within this state than it otherwise would be. In other words, Florida’s economy is already the best in the country and going forward we’re on track for producing the best economy in the world. I get excited about this stuff because I love our state, I love winning, and I love seeing our state’s economy provide more people with better opportunities.