The continuing exodus from the UK — 16,500 millionaires left between 2017 and 2023 — is part of a global mass migration of the rich that appears to be accelerating.
The Henley Private Wealth Migration report found that 128,000 millionaires are set to relocate this year, beating last year’s record by 8,000.
By contrast, the ranks of the wealthy have grown in the US, Canada, Australia, Germany and France over the same period.
“The outflow of high-net-worth individuals already generated by the economic and political context is now being accelerated by policy decisions ahead of the election,” said White.
Still, one very rich couple will apparently be staying, whatever the result on July 4.
Persons:
Henley, ” Hannah White, —, ” Dominic Volek, Liz Truss, Keir Starmer’s, Rishi Sunak’s, Starmer, Rachel Reeves, ”, White, Akshata Murty, Sunday Times Rich, King Charles, Sunak
Organizations:
London CNN, Labour, Henley & Partners, Institute for Government, City of, Henley Private Wealth, European Union, Bank of England, Keir Starmer’s Labour Party, Sunday Times
Locations:
United Kingdom, City of London, China, Japan, Hong Kong, Canada, Australia, Germany, France, Ukraine, England