Who’s a Part of the Top 1% in Idaho?
There are handful of highly exclusive "clubs" out there. Many of these clubs are gatekept by two things: power and money and in some cases these are one in the same. We hear all the time about the "top 1%" but who are these people and what do they make? It actually varies state to state. In my mind these are billionaire celebrities but that isn't always the case, especially in good 'ole Idaho.
So what does it take to be amongst the richest of the rich here in Idaho? Honestly.. not that much compared to the rest of the country! In a 2020 report by USA Today, the top 1% in the Gem State earn at least $407,393 which is the 10th lowest across the country. In almost every other state, the threshold is at least $450,000.
The average income of Idaho's 1% is much higher than it's threshold though being $1,043,184. For comparison, the average income of all Idaho tax filers is $68,702. The 1% has just over a 15% share of the entire state's earned income.
There are far less millionaires than they are 1%ers here in Idaho. It was reported that there are 39,749 Idahoans with net worth of $1 million or more. When it comes to BILLIONAIRE status - there's only ONE Idahoan to reach this level: Frank VanderSloot of Idaho Falls. He is a self-made billionaire with a whopping net worth of $3.5 billion! VanderSloot is the founder of the wellness company Melaleuca and also runs a purebred Angus cattle operation owning 117,500 acres of land across three states.