Where Do Millionaires Put Their Money


Where Do Millionaires Put Their Money – An estimated 88,000 millionaires will move to a new country during 2022, according to the latest report by Henley Global Citizens.

This graphic shows the migration of high net worth individuals (HNWIs) – those with a net worth of more than US$1 million – showing where the rich are coming, and where they’re fleeing.

Where Do Millionaires Put Their Money

Where Do Millionaires Put Their Money

Before diving into country-specific data, it’s important to take a step back to look at overall millionaire migration trends and see how things are changing this year.

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2020 saw a sharp decline in the number of millionaire immigrants, as pandemic-induced lockdowns prevented people from leaving their home countries — and sometimes, their homes in general.

But as restrictions ease and countries begin to reopen their borders, the migration of millionaires is picking up steam again:

Below, we’ll look at which countries have the largest number of HNWI immigrants, and which countries are losing the most HNWIs.

There are many reasons why super-rich countries are stepping up. Conflict avoidance is one of them, which is why it’s no surprise to see that Russia and Ukraine are likely to see the largest numbers of migration by the end of 2022.

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While Russia expects 15,000 millionaires to leave the country, Ukraine will suffer the biggest percentage loss – 42% of its HNWIs could leave the country by the end of 2022.

According to Andrew Amuels, head of research at New World Wealth, given the recent slowdown in overall wealth growth in China, this could be more damaging to the country than in previous years.

The United Arab Emirates (UAE) has become a millionaire magnet with an estimated 4,000 HNWIs in the country by the end of 2022. This influx of ultra-rich people is partly due to the country’s specially designed favorable immigration policies. Attracting private funding and international talent.

Where Do Millionaires Put Their Money

Australia continues to attract HNWIs, second only to the UAE. About 80,000 millionaires have moved to the Land Down Under in the past two decades, according to New World Wealth.

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Some of the things that attract immigrants to Australia are the country’s low healthcare costs, lack of inheritance tax, and its generally prosperous economy.

Data Note: As countries reopen, and the invasion of Ukraine continues, it will affect where people choose to live. There are two important things to keep in mind when looking at the above information. 1) Individuals need to stay in a country for six months to update the database. In many cases, it remains unclear where people leaving certain countries choose to move. 2) In the graphic above, we have visualized the top 10 countries for inflows and outflows.

Update: This article and graphic have been updated to more clearly describe what is being shown, and the source of the data is listed more prominently. We appreciate your feedback.

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China owns half of our money and the world’s domestic wealth. This theory breaks down how national wealth is distributed around the world. Now only 10 countries account for 75% of the total domestic wealth.

Measures such as GDP are commonly used to understand the overall wealth and size of an economy. While looking at economic output on an annual basis is useful, there are other metrics to consider when valuing a country’s wealth.

The majority of global wealth is concentrated in major economies, including China and the United States. Houses of K account for half of all personal wealth in the world. This differs slightly from using GDP as a measure, where the U.S. and China nominally 24% and 19% of the global economy respectively.

Where Do Millionaires Put Their Money

The biggest change in recent years has been the growth of wealth in China. A decade ago, Chinese citizens were estimated to hold only 9 percent of the world’s wealth. That number has now more than doubled, with average wealth in the country rising from $3,111 to $26,752 between 2000 and 2021.

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Europe’s share of household wealth has fallen by eight percent in just over a decade, partly because of China’s economic acceleration.

Surprisingly, the regions of Africa, South America, Oceania and the Middle East account for only 11% of the world’s total domestic wealth.

Data Note: There is no direct way to measure household wealth across countries, so the report uses three key measures, including: the average level of wealth in a country, the sample of country wealth, and billionaires. Forbes list.

Imagined Politics: Top Donors for 2022 US Midterm Elections Raise Record-Breaking $9 Billion for 2022 Midterm Elections See who the top 10 donors are in this graphic.

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This year’s midterm elections are expected to set a new spending record of more than $9 billion. This is significantly higher than the previous record of $7 billion, which was set in 2018.

According to a recent Washington Post analysis, $1 billion of those funds can be attributed to the top 50 donors. In typical visual capitalism fashion, we’ve illustrated this data to give you a better insight.

Sorting this list of top 10 donors by party, we can see that $168 million was raised for Democrats and $33.8 million for Republicans.

Where Do Millionaires Put Their Money

Keep reading below for some interesting background information on all 10 of these individuals. Net worth collected by Forbes as of November 1, 2022.

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George Soros is a Hungarian-born American billionaire, known for his philanthropic efforts and for “breaking” the Bank of England. He had a distinguished career as a hedge fund manager, founding Soros Fund Management in 1970. Visit this page to see the top 100 holdings in Soros Fund Management’s portfolio.

Soros has donated more than $30 billion of his wealth to various causes and charities. He is the founder and chairman of two super PACs (Political Action Committees) namely Democracy PAC and Democracy PAC II.

Elizabeth and Richard Uhlen are the founders of Ullen, one of the largest distributors of logistics supplies (boxes, tape, gloves, etc.) in North America. The company does several billion in sales every year.

The couple has received media attention for making substantial donations to the Republican Party. According to Forbes, the Uehlins have donated a total of $194 million since 1990.

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Kenneth Griffin is the founder and CEO of Citadel, a U.S. He also owns Citadel Securities, the largest market maker on the New York Stock Exchange (NYSE).

Market makers act as intermediaries in financial markets by facilitating buy and sell orders for investors. Using equity (stock) as an example, when a market maker receives an order from a buyer, it sells shares from its inventory. This makes the stock market run smoothly.

Griffin found himself in the spotlight during the GameStop short squeeze when his firm provided emergency funding to Melvin Capital Management.

Where Do Millionaires Put Their Money

Jeffrey Yass, once a pro gambler, is the cofounder of Susquehanna International Group (SIG), a successful trading firm based in Philadelphia. SIG specializes in quantitative research and trading, which involves the use of computer algorithms to identify opportunities.

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Yass is often cited as the richest man in the state of Pennsylvania and has received media attention for his large political contributions.

Sam Bankman-Fried is the founder and CEO of FTX, which is currently the third largest cryptocurrency exchange in the world behind Binance and Coinbase. The company is based in the Bahamas and offers trading in over 300 cryptocurrencies.

In May 2022, Banksman-Fried announced that she was willing to donate “north of $100 million” to the upcoming 2024 presidential election. He has since retracted this comment.

At some point, when you get your message across to voters, there’s not much you can do. – Sam Banksman Fried Stephen Schwarzman (Net Worth: $35B)

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Stephen Schwarzman is President and CEO of Blackstone Group, a globally recognized private equity firm. Blackstone’s portfolio of companies includes Ancestry.com, a popular family history service, and Bumble, a popular online dating platform.

The bulk of Schwarzman’s political contributions have gone to the Senate Leadership Fund, an independent super PAC aimed at building a Republican Senate majority.

Timothy Mellon was the chairman and majority owner of Pan Am Systems, a privately held transportation, construction and energy company. In November 2020, CSX Corporation announced that it had signed an agreement to purchase Pan Am. The sale was approved in April 2022.

Where Do Millionaires Put Their Money

Mellon made headlines in 2021 when it was revealed that he had donated $53 million to the Texas Border Wall Fund. At the time of reporting, this was 98% of total funding.

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Larry Ellison is the chairman and co-founder of Oracle, one of the world’s largest software companies. Oracle is listed on the NYSE and has a market cap of over $200 billion. Ellison has also been a Tesla board member since December.

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