Hemorrhage of millionaires in Russia, but about 15,000 leave

More than 15,000 millionaires are expected to leave Russia this year as wealthy citizens turn their backs on Vladimir Putin’s regime after the invasion of Ukraine, according to an analysis of migration data quoted by The Guardian. of more than $ 1 million (£ 820,000) would migrate to other countries by the end of 2022, according to projects based on migration data by Henley & Partners, a London-based firm acting as an intermediary between – the rich countries that sell their citizenship.

“Russia [are] a hemorrhage of millionaires. Wealthy people have emigrated from Russia in steady numbers each year over the past decade, a sign of early warning of the country’s current problems. Historically, a country’s major collapses have usually been preceded by an acceleration of the emigration of rich people, who are often the first to leave because they have the means to do so, “said Andrew Amoils, chief The New World Wealth’s research department, which compiled the data for Henley, writes The Guardian.

Ukraine is expected to suffer the largest loss of net worth (HNWI) as a proportion of its population, with 2,800 millionaires (or 42% of all HNWIs in Ukraine) leaving the country by the end of the year.

Traditionally, the richest people in the world have moved to the United States and the United Kingdom, but Henley said he expects the United Arab Emirates to surpass them as the number one destination for millionaire emigrants. “Britain has lost its crown of wealth, and the United States is rapidly fading as a magnet for the world’s rich, and the United Arab Emirates is expected to surpass them by attracting the largest net inflows of millionaires globally in 2022.” Henley said in his report, which is based on “systematic monitoring of international private wealth migration trends.”

About 4,000 HNWIs are expected to move to the United Arab Emirates by the end of the year, ahead of Australia, which is expected to attract about 3,500, Singapore (2,800) and Israel (2,500).

A large number of millionaires are also expected to move to the “three M” countries: Malta, Mauritius and Monaco.