Business · Economy · 3 hrs ago
UK lost 16,500 millionaires in 2025 as UAE gained 9,800
The UK had a net loss of 16,500 millionaires in 2025, the largest outflow of any country, according to estimates.
The United Arab Emirates gained 9,800, the biggest net inflow, ahead of the United States.
Steel magnate Lakshmi Mittal moved from London to Switzerland, while Revolut founder Nikolay Storonsky moved to the UAE.
The UK had offered some foreign residents favorable tax treatment for income and gains earned abroad, but that system has ended, helping to intensify competition between countries.
An estimated 142,000 millionaires changed countries in 2025, compared with 64,000 in 2015.
The shift matters to London’s financial hub, which has drawn banks, investment firms, wealth managers and luxury property businesses by attracting international fortunes.
The United Kingdom had an estimated net loss of 16,500 millionaires in 2025, the largest outflow of any country.
The United Arab Emirates led in attracting millionaires, with a net gain of 9,800.
The figures are estimates from New World Wealth, which defines millionaires as people with at least $1 million in liquid investable wealth.
The United Kingdom’s net outflow rose from 10,800 in 2024, after reaching 4,200 in 2023.
The article links the movement to changes in tax policies and competition among countries to attract wealthy residents.
- Who
- Millionaires with at least $1 million in liquid investable wealth.
- What
- The United Kingdom recorded an estimated net loss of 16,500 millionaires, while the United Arab Emirates gained 9,800.
- When
- In 2025.
- Where
- The United Kingdom and the United Arab Emirates, among other countries.
- Why
- The article links the migration to tax-policy changes and competition among countries to attract wealthy residents.
This story does not have two clearly opposing sides.
The United Kingdom recorded a net loss of 1,500 millionaires, according to Henley & Partners data cited in the article.
The United Kingdom’s net loss reached 4,200 millionaires.
The United Kingdom’s net loss reached 10,800 millionaires.
The United Kingdom had an estimated net loss of 16,500 millionaires, while the United Arab Emirates had a net gain of 9,800.
- UK net loss in 2025
- 16,500 millionaires
- UAE net gain in 2025
- 9,800 millionaires
- China net loss in 2025
- 7,800 millionaires
- US net gain in 2025
- 7,500 millionaires
- Millionaires who changed country in 2025
- About 142,000