A record of 142,000 millionaires should change country by the end of 2025, according to a survey by consultancy Henley & Partners released on Tuesday (24). The report shows a reconfiguration in the flows of global wealth, with countries such as United Kingdom, China and Brazil losing high -income human and financial capital, while United Arab Emirates, the United States and Italy lead gains.
The United Kingdom is expected to record the largest net output of millionaires in the world, projection of loss of 16,500 individuals with equity exceeding US $ 1 million. It is the largest number ever registered for a single country since the beginning of monitoring, a decade ago. The report attributes this exodus to recent tax reforms, including tax increases on inheritance and capital gains, as well as the end of the regime for unmarried residents.
Following are China (-7,800), India (-3,500), South Korea (-2,400), Russia (-1,500) and Brazil, which occupies the 6th position, with an estimated net outlet of 1,200 millionaires – totaling $ 8.4 billion in wealth transferred. The favorite destinations by Brazilians are United States, Portugal and tax havens in the Caribbean and Central America.
On the other hand, The United Arab Emirates must attract a record of 9,800 millionairesfollowed by the United States (+7,500), Italy (+3,600), Switzerland (+3,000) and Saudi Arabia (+2,400). The report points out that the most attracting countries offer environments with low taxation, political stability and structured investment immigration programs, such as Golden Visa.
“Migration of millionaires is a relevant economic indicator, as it reflects where there is perception of safety, opportunity and growth,” says Dr. Juerg Steffen, CEO of Henley & Partners.
According to the consultancy, specializing in high -income public migration, the phenomenon also influences the real estate market, investments in local businesses and the luxury sector. Henley & Partners projects that the number of moving millionaires reach 165,000 in 2026, reinforcing global competition through the richest pockets.
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See the 10 countries that should have the highest losses of millionaires in 2025, according to consultancy Henley & Partners:
| Country | Migration of Millionaires | Estimated richness of millionaires (in billions of dollars) |
| United Kingdom | -16.500 | 91.8 |
| China | -7.800 | 55.9 |
| India | -3,500 | 26.2 |
| South Korea | -2.400 | 15.2 |
| Russia | -1,500 | 14.7 |
| Brazil | -1,200 | 8.4 |
| France | -800 | 4.4 |
| Spain | -500 | 3.1 |
| Germany | -400 | 2.2 |
| Israel | -350 | 2.5 |
