Wealthy Americans Shift Assets Abroad as Citi Sees $3.06 Trillion Flow to Global Hubs
Updated
Updated · Fortune · Jul 11
Wealthy Americans Shift Assets Abroad as Citi Sees $3.06 Trillion Flow to Global Hubs
3 articles · Updated · Fortune · Jul 11
Summary
Citi says wealthy U.S. families are increasingly booking assets outside the United States, a move executive Darlene Patterson called unprecedented in her career.
Policy risk is the main driver: clients want stable political environments and are adding residencies or golden visas in places including Italy, Portugal, Australia and New Zealand for "optionality," not full expatriation.
Citi's Wealth Beyond Borders report projects $3.06 trillion will move into five financial hubs — Hong Kong, Singapore, Switzerland, the UAE and the U.S. — from 2025 to 2029 as geography becomes part of portfolio diversification.
The trend extends beyond one bank: UBS found 60% of family offices planned allocation changes, while inquiries from wealthy Americans about golden visas jumped more than 500% over five years to 2024.
Citi says the shift is deliberate but not a wholesale retreat from America, which still holds about one-third of global liquid investable wealth and 37% of the world's millionaires.
If wealthy Americans are increasing home investments, why are they rushing to secure foreign passports and residencies?
Beyond a 'plan B,' which golden visa programs offer the best strategic advantages for business and investment in 2026?
142,000 Millionaires on the Move: The Surge in Outbound US Wealth and Its Global Impact
Overview
The global financial landscape is undergoing a historic wave of wealth migration, with an unprecedented number of millionaires relocating across borders. In 2024, an estimated 142,000 millionaires are expected to move, and this number is projected to rise to 165,000 by 2026. This represents the largest voluntary transfer of private capital in modern history and signals a profound shift in economic influence. Nations are actively competing to attract both talent and substantial fortunes, while wealthy American families are increasingly joining this trend as they recognize the need to diversify their assets beyond domestic borders.