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South Florida

Florida has second highest number of millionaires

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Florida has the second-highest number of millionaires in the country, according to the Internal Revenue Service’s latest report, moving New York down a notch on the list to number three. Florida had 199,000 residents with a net worth above $1.5 million in 2004, the last period for which it was recorded. The report showed that 20 percent of Florida’s wealth was in real estate. With the current down market, the state’s millionaire population may decline by the end of the next period.