In the last decade, we have seen interesting changes in the Formation of new fortunes around the world and how new technologies were replacing oil, logistics or industry as origins of that wealth.
However, these fortunes do not have to remain exclusively in a single country so, such as migratory birds, billionaires also They move around the world looking for the best conditions To develop your fortunes.
Migratory fortunes
The report ‘Billionaire Ambions Report 2024 ‘ Prepared by Financial Entity UBS has studied the movements of the great fortunes between 2015 and 2024, observing some patterns that reflect the economic policies that the different territories have taken and the effects that these policies have on the great assets.
To help us have a more global vision of the subject, in Visualcapitalist have developed a graph with the data of the Migratory study of great fortunes of ubs.
According to the report data, since 2020, about 176 billionaires, which in total totaling a joint assets of more than 400,000 million dollars, have moved to other countries. This means that approximately one in 15 billionaires in the world has changed residence Looking for more conducive airs for your fortunes.
The reasons why they move are varied, but mainly they look for tax advantages and places where is easier do business. China, Switzerland and the United States are some of the most popular destinations for these ultra -ups. On the other hand, Eastern Europe has seen the largest exit of billionaires in the last ten years.
China leaves a positive multimillionaire balance
The case of China is quite paradigmatic since it has become the country that has won the most billionaires in net terms during the last decade. According to UBS records, in 2024, China had 501 billionaires in total.
During the years that monitors the study, 73 ultrarricos moved to China from other countries, while 48 millionaires undertook the opposite path abandoning the country. The result is a positive balance of 25 billionaires for China.
Despite the recent economic problems caused by the Real estate crisis in Chinathe total richness of its billionaires has doubled since 2015, reaching 1.8 billion dollars.
Western Europe is the second region that has attracted the most billionaires in the last ten years, registering an increase 20 millionaires. In total, the billionaires of this region accumulate a joint wealth of 2.7 billion dollars, growing 16% since 2023. With 117 millionaires, Germany is the country with more population of millionaires from Europe, followed by Switzerland with 85 billionaires and the United Kingdom with 82.
On the other hand, the growing geopolitical tension that Eastern Europe lives, and the subsequent outbreak of the Ukraine War, He encouraged the move of 29 millionaires from that area of the continent.
The United States has also been an important magnet for great fortunes, attracted to Innovation and investment poles as Silicon Valley and New York are. In the last 10 years, 55 foreign billionaires moved there, while 42 American millionaires left to other countries.
With the boom in the stock market in 2024, the United States housed 835 billionaires with a combined wealth of 5.8 billion dollars, which represented a growth of 27.6% in one year. The fiscal policies that They have adopted Texas or Florida, are leading that some of the millionaires who were based in California or New York Rumbo to the south of the country.
Middle East is in full reinvention process, with projects like Neomwhich seeks to unlink the richness of the country of its fossil resourcesturning countries as United Arab Emirates, into the right environment for investments and the creation of companies. A proof of this is that the richness of the billionaires of that country increased by 39.5% between 2023 and 2024.
That favorable investor environment It has served as a magnet to host Millionaires from Southeast Asia, Australia or the South American cone, attracted by a most lax fiscal policy With capital income.
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Image | Visualcapitalist