New York sees mass millionaire exodus, causing nearly $11 billion in lost tax revenue, NYpost reports.

Multiple sources confirm that New York has seen a substantial outflow of millionaires in recent years, which has led to a significant loss in tax revenue. The New York Post initially reported the $11 billion figure, which has been echoed by various news outlets and commentators. For example, Benny Johnson and other commentators note an $11 billion revenue drop linked to millionaire migration.

The National Taxpayers Union Foundation provides data showing New York's millionaire population dropping sharply, with estimates of lost tax revenue ranging from about $11 billion to $12. 2 billion depending on the timeframe and scope considered. While some sources mention a decade-long cumulative loss (e.g., $12.

2 billion over ten years), most recent reports focus on approximately $11 billion lost within a single year or recent period. This consistency across multiple independent reports supports the core claim.

However, some variation exists in exact figures and timeframes, reflecting different methodologies or reporting periods. Additionally, some commentary links this exodus to high taxes and cost of living pressures, though these causal factors are more interpretive than strictly factual.