A record number of millionaires are upping sticks this year
The UAE and the US are expected to see the biggest influxes of wealthy individuals in 2025, as thousands of millionaires flee the UK.
As the world’s millionaire count continues to tick up — with the global millionaire population rising by more than 684,000 to ~60 million last year, per UBS estimates — it follows that a growing number of seven-figure club members are moving to pastures that would better help keep them in the green.
Earlier this week, Henley & Partners released its annual Private Wealth Migration Report for 2025, which outlined that 142,000 millionaires, the highest number ever recorded, are expected to gain citizenship in another country this year. Next year, this number is expected to rise to 165,000.
According to Henley, this “mass movement of millionaires” marks the largest voluntary transfer of capital in modern history. With this comes a “profound shift in economic influence,” as regions with large inflows of millionaires enjoy new pools of investable wealth.
But which countries are expected to see the most new millionaires this year — and which are high-net-worth individuals turning their backs on?
The United Arab Emirates (UAE), home to burgeoning cities like Dubai and Abu Dhabi, is forecast to see 9,800 millionaires gain residency there in 2025, the report found. The UAE’s Golden Visa program, world-class infrastructure, and, of course, zero income tax are all listed as reasons why it’s now the world’s most sought-after wealth haven — though it’s worth noting that ongoing conflict in the Middle East may affect these figures.
The US is in second, predicted to gain 7,500 new high-net-worth individuals this year, having taken notes from the UAE’s wealth immigration playbook. As reported by Forbes, the increase is largely due to the EB-5 Immigrant Investor Program, as well as President Trump’s $5 million Gold Card visa program in development.
The biggest loser of wealthy individuals? The UK. Previously a hub for Europe’s ultrawealthy, the UK is anticipated to lose a massive 16,500 millionaires this year, collectively holding ~$92 billion worth of assets. This exodus builds on a mounting outflow of millionaires the country has seen post-Brexit: Henley estimates that, since 2016, the UK has lost a whopping ~28,800 millionaires.
