5 ms·
There is an infographic floating around at the moment that maps the migration of millionaires in 2022. I have not dug through the data to see if everything in t
by kimchidude 4y ago
There is an infographic floating around at the moment that maps the migration of millionaires in 2022. I have not dug through the data to see if everything in the infographic is accurate, but as I think most people would presume: it shows loads of wealth holders are making their way into the western world from Russia, China, India, Ukraine (you can predict the others net negative countries).
However what's got my mind going is that loads of wealth holders are also leaving the UK. What's this all about? Perhaps post Brexit jitters?
I mean, it doesn't really make me contemplate existence, but I guess I just didn't expect my lifetime to include a UK that's incapable of holding on to its wealthy citizens. (Maybe I'm overlooking an obvious explanation?)
Edit: a kind person in this thread found the image~ https://www.visualcapitalist.com/migration-of-millionaires-worldwide-2022/ https://www.visualcapitalist.com/migration-of-millionaires-w...
- ackbar03 4y agoIt might be the russian oligarchs / extended family who reside there?
- kimchidude 4y agoYeah you could be right, but it's like more than a thousand millionaires have left/are leaving in 2022.
- jjar 4y agohttps://www.visualcapitalist.com/migration-of-millionaires-worldwide-2022/ https://www.visualcapitalist.com/migration-of-millionaires-w... This one?
- levi_n 4y agoThat graphic shows ~44k HNWI emigrating, and ~20k HNWI immigrating. I skimmed the underlying text and didn't see an explanation, so are we to assume the other ~24k HNWI immigrated to the rest of the world's countries in relatively low numbers per country? I suppose another answer might be that it's easier to track HNWI leaving countries than it is to track them entering other countries?
- kimchidude 4y agoYes, that's it.
- refurb 4y agoHigh net worth individual is >$1M seems low. I mean the Portugal number are clearly due to it's Golden Visa which is for retired people. Having $1M in assets (house included) isn't that rare at retirement.
- kimchidude 4y agoBut I think when you extend the sample to the spectrum of all humanity (as the infographic does), $1 million USD becomes quite clearly a fitting benchmark of wealth.
- refurb 4y agoIn the spectrum of humanity, "high net worth" would be much less than $1M USD.
- capableweb 4y agoTell me you're from a high-tech city (probably SF) and work in software, without telling me you're from a high-tech city :)
- HunterWare 4y agoWhile funny, California as a whole has (according to Wiki) 8.5% of million dollar net worth families. There are almost 10million of them in the US. That's on the order 1 in 10 people belonging to a family in that bracket in the US and thus a whole bunch of people. So that's not really just some tech bro's in the valley...
- jjgreen 4y agoThe city of London is now outside the EU. A lot of those who worked in it have moved to Frankfurt etc, to be back on the inside; quite a few of those are loaded.
- kimchidude 4y agoGood point. That's probably a significant portion of the number, yes.
- dazc 4y agoIs a 'millionaire' a 'wealthy citizen' these days? In the UK this means you can buy a decent home for cash and still have to work for a living?
- kimchidude 4y agoI guess we're getting into semantics here, but I would imagine someone with a net worth above a million USD would be considered to have above average wealth in a majority of countries.
- throwawaylala1 4y agolol yes
- mytailorisrich 4y agoA million, whether dollars or pounds, in NET wealth is being a wealthy citizen in the UK and I suspect all Western countries. It's probably far better than the top 10%.
- deleted 4y ago[deleted]
- radicalbyte 4y agoHonestly at this point it's almost worth excluding housing. You have a generation from about 45-60 who bought their London houses for around the 50-200k mark who have an asset worth 0.8-2.5M and are earning 200-300k a year. You then have those a bit younger with similar incomes but who had to "buy high". Both are "rich" but I would probably only classify the former group as "wealthy" as they're sitting on huge assets.
- annyeonghada 4y agoOnly on Hacker News is possible to read comment that unironically ask if being a millionaire is wealthy? Look at the percentile, look at the median and average income, median and average wealth, look at the distribution of wealth: in whatever way you look at it, yes, the equation millionaire = wealthy is true.
- 4y ago
- irthomasthomas 4y agoThey need a decimal place in that table. UK has lost 1,500 millionaires = 0%.
- Waterluvian 4y agoThis feels like absolute unfair BS and it grinds my gears so much. Someone gets rich in some crappy-to-live locale with bad human rights, etc. often by exploiting weak governance, regulations, exploitation protections. And then they take all that wealth and move to Canada or wherever, that's a delight to live and raise a family in. They get their cake and eat it too.
- fny 4y agoStagflation?