Record numbers of wealthy Americans are making plans to leave the U.S. after the election
This article originally appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly resource for high-net-worth investors and consumers. Wealthy Americans Planning to Move Abroad Amid Election Fears A growing number of affluent Americans are making plans to leave the country as Tuesday’s election approaches, driven by concerns over potential political and social unrest regardless of the outcome, according to immigration attorneys. Advisors to family offices and high-net-worth individuals report an unprecedented surge in demand for second passports and long-term residency programs abroad. While discussions of moving overseas during election years are common, experts say this time, many are taking concrete steps. “We’ve never seen demand like this,” said Dominic Volek, group head of private clients at Henley & Partners, a firm specializing in global migration for the wealthy. He noted that for the first time, Americans have become the company’s largest client base, accounting for 20% of its business. The number of U.S. clients planning to move abroad has increased by at least 30% compared to last year. The trend underscores growing uncertainty and the lengths to which some wealthy individuals will go to secure stability and flexibility in a turbulent political climate.