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Like many countries, the US grants green cards/ permanent lawful residency to immigrants and families able to make commercial investments and create or preserve at least 10 full time jobs. The EB-5 Visa ( 1990) is routinely used to attract incremental capital. Some may recall the Kushner family was promoting the visa as it sought investment in China for their real estate holdings.that it was the Kushner family made it news.
Billionaires, not millionaires, are the target.
Yes, but the OP's graphic is about millionaires which could easily be a retired teacher from Duluth.
As such clearly attracting billionaire $$$ would have a lot more bang for it's buck.
Only about 1,500 millionaires moved to the US lately, while other countries saw much larger gain.
Australia continues to attract HNWIs, coming in second behind the UAE. According to New World Wealth, approximately 80,000 millionaires have moved to the Land Down Under in the last two decades.
A few things that attract migrants to Australia are the country’s low costs of healthcare, its lack of inheritance tax, and its generally prosperous economy.
we are still growing, but less will come as the fascist liberals continue to want to clobber anyone who succeeds
Love the chart in post #1 but when I add up the numbers it shows over 44,000 HNWIs leaving a nation but only see other nations gained about 21,000 of the HNWIs. I wonder where they went.
Using US $1M as the starting point is suspect since other places in the linked article refers to "ultra" wealthy which very few people are. Millions of people in California have real estate equity at the $1M level or higher, hell, even I'm at $1.3M with the house and IRA accounts included.
I suspect many of those fleeing China went to Canada and the USA, in numbers far higher than the chart shows. I've seen articles for years about how the Chinese are flocking to our west coast and the area of Vancouver, Canada.
Edit to add:
Found some recent numbers on Investopedia to say the USA had "just over 21,951,000 millionaires in the U.S., according to the latest Global Wealth Report from the Credit Suisse Research Institute. ... Much of the new wealth was gained in the last half of 2020, as the stock markets rose and housing prices soared. ... The U.S. has 724 billionaires, ... more than anywhere else in the world. Worldwide, there were 2,755 billionaires, an increase of 660 in just one year."
I suspect that the value of their homes is what pushes most of those people over the line into millionaire status.
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Last edited by Mike from back east; 06-16-2022 at 11:15 AM..
Only about 1,500 millionaires moved to the US lately, while other countries saw much larger gain.
Australia continues to attract HNWIs, coming in second behind the UAE. According to New World Wealth, approximately 80,000 millionaires have moved to the Land Down Under in the last two decades.
A few things that attract migrants to Australia are the country’s low costs of healthcare, its lack of inheritance tax, and its generally prosperous economy.
It's fascinating to see where the elites are migrating too. Thanks for posting the image! Now we know where to tell China to target the nukes. What a shameful statement for a capitalist to make! Wealth and resource concentration is a natural result of any system of government including marxist ones... it's all in who gets that money. I'm no communist, but when wealth concentrates too much, problems occur, in part because these wealthy people buy out the politicians... that is the main reason. Alternate reasons include them buying up all the assets (land, real estate, etc) which also causes problems, and as we can see, no leader among the swamp in any country is really doing anything to stop this concentration of wealth... it seems to be part of their great reset ambitions.... you will own nothing and be happy.
So it sounds like capitalism I has the same endgame as communism: everything is owned by the elites, and the masses own nothing.
Well, if a millionaire has a brown skin and an unfamiliar English accent, they're going to find Australia a lot more accommodating than the USA today.
For most of them, Australia also has a more familiar climate too. Notice the countries with warm Mediterranean climates are all the most popular spots?
And with a war threatening most of the EU, it's no surprise to me millionaires would want to move somewhere far, far away from that.
Story in NY Times today, with their usual great graphics, that since the start of war in Ukraine and the sanctions on Russia it started a sudden change in where wealthy Russians are flying.
Excerpts:
"Before the invasion of Ukraine, private jets from Moscow flew to Paris, Milan and Geneva more often than anywhere else."
"But after Feb. 24, as Europe started to close its airspace to Russian planes, wealthy Russians started to fly elsewhere: to Central Asia and the Middle East, most of all."
"By May, a new geography of the Russian elite had taken shape, data on nearly 2,000 flights analyzed by The New York Times shows. That world has one clear center: Dubai."
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Them millionaires should not be able take any wealth with them. The origin country should tax the living bejeezus out of them if they try to invest their wealth elsewhere.
And any country should not accept outside millionaires or billionaires without being taxed by that country because it just creates more competition for people domestically. More wealth makes your wealth less valuable. And by tax, I dont mean let them invest to "create jobs".
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What a shameful statement for a capitalist to make! Wealth and resource concentration is a natural result of any system of government including marxist ones... it's all in who gets that money. I'm no communist, but when wealth concentrates too much, problems occur, in part because these wealthy people buy out the politicians... that is the main reason. Alternate reasons include them buying up all the assets (land, real estate, etc) which also causes problems, and as we can see, no leader among the swamp in any country is really doing anything to stop this concentration of wealth... it seems to be part of their great reset ambitions.... you will own nothing and be happy.
Things change quickly these days . . .
