US EditionLondon falls out of top five wealthiest cities as millionaires leave
- London fell to sixth place in the 2024 ranking of the world's wealthiest cities.
- A report attributes this shift to high taxes and Brexit, leading to a millionaire exodus.
- Los Angeles now ranks higher, holding 220,600 millionaires, while London has 215,700.
- Andrew Amoils noted, "Capital gains tax and estate duty rates in the UK are amongst the highest."
- London has suffered a large exodus of wealthy individuals, impacting its status as a financial hub.
32 Articles
32 Articles
Why Are Millionaires Leaving London in Droves? New Report Reveals Key Reasons
London: London, once a global magnet for the wealthy, witnessed a mass exodus of millionaires in 2024. Over 11,000 millionaires left the British capital between January and December, according to a new report by Henley & Partners. Most of these high-net-worth individuals chose As
Why Millionaires Are Fleeing London - What The Latest Data Reveals
Millionaires are fleeing London - not by handfuls or dozens, but by the thousands. In 2024 alone, more than 11,000 millionaires fled London for greener pastures. Most of them settled either in Asia or America. Though this has been happening for a few years now, what is worrisome is that the frequency and scale of the exits have risen exponentially. Data collected annually by wealth advisory firms suggest that some of the more prominent reasons b…
Study: Millionaires in London are declining, some are moving to the US
Thousands of millionaires (in US dollars) have left London in the past year, with some fleeing to the US or Asia due to high taxes and the impact of Brexit, a study published on Wednesday found.
London Drops Out of Top Five Wealthiest Cities as Millionaires Flee Far-Left Govt.
PULSE POINTS:What Happened: London has dropped out of the world’s top five richest cities due to an exodus of millionaires. Who’s Involved: New World Wealth and Henley & Partners, Prime Minister Keir Starmer, Chancellor Rachel Reeves, Mayor Sadiq Khan. Where & When: London, England, over the last decade. Key Quote: Andrew Amoils of New World Wealth stated, “Capital gains tax and estate duty rates [IHT] in the UK are among the highest in the worl…
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