Rich people are moving to countries with strong economies, lifestyle appeal, and favorable tax regimes, with the United Arab Emirates (UAE), United States (USA), Italy, Switzerland, and Singapore leading in net millionaire inflows for 2025, driven by tax benefits, safety, and investment opportunities, while traditional hubs like the UK and China see significant outflows. Southern Europe (Portugal, Greece) and stable nations (Canada, Australia) remain popular, but newer financial centers in the Gulf and Asia are gaining traction.
The cities where the ultra-wealthy thrive
Millionaire Migration to Switzerland
For ultra-wealthy individuals, Switzerland remains a preferred country for the past decade or so. The country remains a global leader in terms of wealth management.
Sydney. Sydney boasts a staggering 126,900 resident millionaires, along with 184 centi-millionaires and 15 billionaires, residing in some of the world's most exclusive residential suburbs, such as Bellevue Hill, Darling Point, Mosman, Point Piper, and Vaucluse.
For those who succeed in transferring their assets abroad, Singapore is among the most popular choices. Wealthy Chinese people have set up hundreds of wealth management offices in the city-state in recent years and accounted for the largest cohort of foreign buyers of luxury homes in 2022.
One of the more popular areas for China's new rich, in addition to the old money suburbs of Vaucluse, Bellevue Hill and Point Piper, is Hunters Hill.
In the centre of Sydney's east, some of Sydney's most awe-inspiring properties are nestled within Bellevue Hill's green hills. It takes out the title as the most expensive suburb in Australia, and for good reason. A meander through the suburb's spectacular streets says it all.
She inherited her Perth estate from her father Lang Hancock, who bought the original home in the 1950s. Rinehart's estate on the Brisbane River in Hawthorne was purchased for a total of $18.5m. The home sits on the banks of the Swan River in the prestigious tree-lined suburb of Dalkeith in Perth's west.
Australia isn't leading the pack in net inflows, but its stability, lifestyle, and education make it a prime second-choice destination for wealthy migrants.
The Best Countries for Financial Freedom
Iceland retains its long-held position as the world's safest country, supported by extremely low crime rates and a highly trusting society. Switzerland follows with its tradition of neutrality, legal protection, and financial security, making it attractive to wealth holders.
The most affordable countries among the safest in the world are Latvia, Chile, Costa Rica, Slovakia, and Lithuania. The cost of living in these states varies from $1,000 to $1,100 per month.
The terminal level, an ultra-high-net-worth individual (UHNWI, the ultra-rich, super-rich, extreme wealth, or a billionaire ), holds US$30 million in investable assets (adjusted for inflation). Individuals with a net worth of over US$1 billion are considered to occupy a special bracket of the UHNWI.
Here are the report's top 10 cities with the highest populations of ultra-wealthy people:
Peppermint Grove consistently ranks as Perth's most expensive suburb, holding the top spot with median house sale prices over $4 million in recent reports (FY2024-25), followed closely by other affluent western suburbs like Dalkeith, Cottesloe, and City Beach, all known for their high property values and desirable riverfront or coastal locations.
Wealth Of Australia's 50 Richest On Forbes List Crosses $200 Billion. Mining magnate Gina Rinehart is Australia's richest person. The collective wealth of Australia's 50 Richest on the 2023 Forbes list soared 70% to US$213 billion from $125 billion in 2019 when the list was last published.
Jindabyne has the capacity to run 3500 breeding cows and will be integrated into the expanding Kidman Premium Wagyu operation. Ms Rinehart owns a 67 per cent stake in S. Kidman & Co, with China's Shanghai CRED owning the remaining 33 per cent share.
It's official! Adelaide is the happiest city in Australia, and one of the happiest in the world! 🙌 We ranked #29 globally in the Happy City Index across six categories - environment, economy, mobility, citizen wellbeing, health and governance.
What is the safest type of investment for beginners with $300k?
1. Switzerland. Switzerland takes the top spot for expats looking to grow their wealth. There's good pay and the opportunity for career progression and an improved quality of life.
As of early January 2026, Elon Musk is the #1 richest person in the world, consistently topping lists from Forbes and Bloomberg, primarily due to his stakes in Tesla and SpaceX, with his net worth fluctuating but holding the top spot over figures like Larry Page and Jeff Bezos.
Per the Federal Reserve, the average age of a millionaire in the U.S. is 61. Americans in their 50s have an average net worth of around $1.3 million., according to Empower Personal Dashboard data in June 2025.