More than 15,000 millionaires expected to leave Russia in 2022

theguardian.com:

More than 15,000 millionaires are expected to flee Russia this year, as wealthy citizens turn their back on Vladmir Putin’s regime after the invasion of Ukraine, according to an analysis of migration data.

About 15% of Russians with more than $1m (£820,000) in ready assets are expected to have emigrated to other countries by the end of 2022, according to projects based on migration data by Henley & Partners, a London-based firm that acts as matchmaker between the super-rich and countries selling their citizenships.

“Russia [is] haemorrhaging millionaires,” said Andrew Amoils, the head of research at New World Wealth, which compiled the data for Henley. “Affluent individuals have been emigrating from Russia in steadily rising numbers every year over the past decade, an early warning sign of the current problems the country is facing. Historically, major country collapses have usually been preceded by an acceleration in emigration of wealthy people, who are often the first to leave as they have the means to do so.”

Ukraine is projected to suffer the greatest loss of high net worth individuals (HNWIs) as a proportion of its population, with 2,800 millionaires (or 42% of all HNWIs in Ukraine) expected to have left the country by the end of the year.

The world’s wealthy have traditionally relocated to the US and the UK but Henley said the United Arab Emirates is expected to overtake them as the number one destination for millionaire emigrates. “UK has lost its wealth hub crown, and the US is fading fast as a magnet for the world’s wealthy, with the UAE expected to overtake it by attracting the largest net inflows of millionaires globally in 2022,” Henley said in its report, which is based on “systematically tracking international