Why the world’s ultra-rich are suddenly fleeing these major countries

The global population of ultra-high-net-worth individuals (UHNWIs), defined as those with $30 million or more, increased from 551,435 in 2021 to 713,626 in 2026, with projections indicating a rise to nearly 950,000 by 2031, according to Knight Frank’s Wealth Report 2026. Concurrently, the number of billionaires is expected to grow from 3,100 in 2026 to 3,915 within five years. A significant and increasing segment of these affluent individuals are relocating internationally for both personal and financial considerations. However, the era of stable inflation, ample liquidity, and globalization that facilitated such migration appears to be concluding. Many nations are revising tax laws and residency requirements, potentially reducing their attractiveness to UHNWIs focused on finance. Furthermore, global instability, exemplified by rising prices, trade disputes, labor disruptions, and geopolitical conflicts, is diminishing the predictability and visibility that business leaders rely on. These shocks, amplified by events like the conflict in Iran, the Covid-19 pandemic, and the war in Ukraine, are becoming more frequent, impacting the decision-making processes of the ultra-rich.