European Ultra‑Rich Numbers Grow as Millionaires Seek New Homes Abroad

A new Knight Frank Wealth Report shows that the number of Europeans with wealth over $30 million rose by 26 % over the past five years to almost 184,000, adding roughly 37,400 individuals since 2021. Germany leads the increase with 9,273 new ultra‑high‑net‑worth persons, followed by Switzerland, France, the United Kingdom, Italy and Spain. The United States remains the global leader with more than 251,000 ultra‑rich, while China holds second place.

At the same time, wealth‑migration specialists report a record outflow of millionaires. More than 140,000 affluent individuals left their home countries last year, and forecasts expect the figure to reach 165,000 this year. Drivers include political uncertainty, higher taxes and personal‑security concerns. Dubai has become a major destination, and many European nations are losing high‑net‑worth residents to other jurisdictions. The advisory industry that facilitates such moves is projected to generate about $40 billion in revenue by 2025.