The Ultra-Wealthy Are Looking Away From the US To Invest Their Money
Summary
The U.S. currently has the most billionaires and millionaires in the world, but many ultra-rich people born outside the U.S. are starting to invest and live in other countries as well. Cities like Singapore and Dubai are becoming popular alternatives, while the U.S. stays important due to its strong economy and innovation.Key Facts
- Forty percent of the world’s ultra-rich live in the U.S., with about 205,000 as primary residents.
- Ultra-high-net-worth individuals are defined as people with $30 million or more in investable assets, not counting their main home.
- Foreign-born ultra-rich people in the U.S. are diversifying by investing and living in multiple countries.
- The number of people with over $5 million is expected to grow to 7.7 million by 2030.
- The ultra-rich group is forecast to grow by 34% to about 734,100 people by 2030.
- Their combined wealth is expected to rise from $63 trillion to $84 trillion by 2030.
- London is losing popularity among the wealthy, while Singapore and Dubai are becoming more attractive.
- U.S. remains a key wealth hub due to large capital markets, strong infrastructure, and innovation, especially in technology.
- Economic uncertainty and higher taxes in some U.S. states are encouraging the wealthy to spread their wealth and residences across more countries.
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