Millionaire Exodus!
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Millionaires are leaving the UK faster than any country in the world other than China, new data shows.
According to the Henley Private Wealth Migration Report, 9,500 millionaires, defined in US dollar terms are leaving the UK this year. Only China – which has more than twice as many people with seven-figure net worths – saw more millionaires leave.
This is a new record outflow for the UK, with London expected to be especially hard hit. The top destinations for millionaires leaving the UK include Paris, Dubai, Amsterdam, Monaco, Geneva, Sydney, and Singapore, as well as retirement hotspots such as Florida, the Algarve, Malta, and the Italian Riviera.”
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46 Comments
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Canada and the US both suck politically at the moment why would millionaires move there is beyond me
A reasonably smart taxi driver selling up in a paid for house in hackney probably has a million and moving to the algarve is no brainer. More people like him there than Hackney.
Had to find a new apartment in Toronto during covid. Because I am not the son of a well connected Chinese billionaire, it was so traumatic an experience, I left to the French Riviera, and never ever came back. Rents are 1/3 the price, it’s 305 days of sun per year, and I somehow look 10 years younger. Once Canada actually becomes more affordable for Canadians, not foreign investors, I may consider coming back…
Why attack rich people when the issue is why young people feel so entitled and just spend their money on eating out and travel.
anyone who uses the phrase "democrat party" is not a voice worth listening to, on any topic — I'm done with you. The number of levels on which this is a joke is amazing – but hey, the good news is your "intellectual act" had me fairly fooled… well… ish… lol Bye Bye loser
Biden is undoing what he did… After election he'll redo what he did.
Its all the fault of brown refugees… as usual
wide ranging combo of brevity and density with questions more important than answers..as unsual great work!
14:12 Liz Truss… Lettuce… Brilliant!
The latter half of the video contradicts the first one. It's not political instability, it's not rule of law or proximity to conflict.
It's corruption.
11:07 What does "family office" mean?
To me, a government 'solving' problems through immigration, is like a doctor 'solving' diseases by only seeing healthy patients.
It's like your doctor telling you you have terminal cancer, but then he brings in 3 healthy patients into the room and says "cheer up, now only 1/4 of you have terminal cancer! I fixed 3/4 of the problem!"
These governments were the ones to implement the economic policies that got us into this situation in the first place. And now they want to use incredibly unpopular policies to try to make the economy better 'on paper' without solving the problem for people who are already struggling.
This is going to end in incredible disaster.
Big business wants cheap labor, they claim highly educated, but get uneducated for the most part. The universities can well do with a 20% cut because for the most part they have stopped teaching how to think for what to think.
It's usually the idiots that vote to import useless people that leave when those useless people arrive.
If you don’t have enough homes, you don’t let in more people.
this feels like a non-issue given the reported increases in the number of millionaires. regardless, if countries want to moan so much abiut refugees, then millionaires shoild have to divest if they want to move aborad. you shouldn't be allowed to hold millions in real estate assets in a country you, yourself, refuse to live in.
Why the hell would you live in England when you could live in Dubai?
To be fair if I had the chance to get out of the U.K. I would at the drop of a hat
Patrick could you please cover the recent enthusiasm for and acquisition of gold bullion by the central bank of Ireland. Both this and production of gold coins since 2022.
I hope one day too, I will have enough money to leave the UK.
the changes in the UK could be related to the closing of the "golden passport" scheme that enabled to people with high wealth to move pretty easily to the UK, ultimately leading all sorts of corruption
Illegal immigration (UK Canada) is solely to maintain wages ultra low, so the rich can underpay their nanies, cooks, employees, and salaries cannot be risen to off set the inflation. Boyle is a sell out to the financial elites that are gounging UK and fleeing somewhere else with the money. My favorite part is him pretending "Millionaires have a hard time moving" 🤣🤣🤣 It's like Opra saying she is "opressed"
13:21 Fact Check: UK only imported 4% of its gas from Russia in 2021 – I'd hardly call that an 'over-reliance'
Gas prices shot up in the UK due to internal pricing mechanisms
South Korea and Taiwan might be on this list because of the extreme competitive environment (people work long hours by developed country standards) and a small domestic consumer market limiting the growth of business.
This isn't a problem for the countries that millionaires are moving away from given they generally seek low tax environments. It's a myth that they are wealth generators (except for themselves) because they take magnitudes of wealth more than they invest.
Its simple. The UK is becoming a communist country.
Me when i think Europeans in the 1990s- 2010s, white people
Europe in 2020s: Middle eastern, Africans migrants
I really appreciate these vids for adressing important topics intelligently without repeating the talking points of self appointed media experts.
Something that is always neglected when declining birth rate is brought up, is, though it is true and obvious that an aging population will slow growth, if one zooms out the graph, the decades preceding this period have seen historic growth, and huge unprecedented gains in personal wealth. Population should be cyclical, and in a fair and balanced system this massive wealth would be transferred to the next generation via inflation in wages. Instead, western governments had decided to hastily import millions of new labourers to stop this wage inflation from eroding the accumulated wealth of a previous generation, or you might say wealthy elites, which allows them to maintain a luxurious lifestyle that they otherwise would have to drain their coffers to attain.
That graph of millionaires leaving is rather misleading and does not represent how bad the UK situation is, especially with an incoming Labour super majority.
15200 from China, 4300 from India is nothing compared 9500 from UK. If you convert the numbers to per capita, the UK numbers are comically large and you can't see anything else on chart.
the numbers normalised to "millionaires per 1 million people":
UK: 141.8
China: 10.8
India: 8.5
I think you are missing the detrimental impact of the excessive and uncontrolled immigration is having on communities across the UK in your assessment. Uncontrolled immigration is causing excessive demand on local services and housing that we do not have the funds to increase resources for.
Tesla bots will fix low birth rates. don’t need more migrants.
Listen at 2x and save some time….. Good video so far.
Bro doesn't blink
Russia's and China's Millionaire Exodus due to them falling out windows or being thrown in jail
Your last section, its NOT about legal immigration, its about the MILLIONS flooding the f**ing Texas border claiming to be "asylum seekers" and Democrats letting it happen for decades now chuckling about it….and then Republicans send them to Democrat states and then Democrats now get mad at the immigration issue too because those same people are flooding their cities eating up tax revenue. Its SIMPLE. Don't hide behind numbers and overcomplicate things. Now other countries its different. In England its the culture shock and Islamification and lack of housing made worse as well as more and more Left-wing extremist lunacy….when you take raw numbers and attempt to generalize about *the whole you miss the causes of the problems.
Fuck millionaires
AI art, really?
16:54 The picture reference for British culture made laugh out loud 🤣
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Millionaires from India will migrate to Canada because they can buy small businesses from retiring Canadians. They will out bid Canadians for gas/petrol stations and then cover the extra cost through corruption like using a corrupt inspector to set the pumps to pump less than a gallon for a gallon on the meter. Australia is likely similar.
Lies lies , China is attacking the chip techies and lsrael they fleeing
If last year was 120k and this year it's 128k, it's only 6% and not 16%.
"Migrant fighting league "-Trump
Democratic Party in the US, not Democrat Party.