TL;DR – Money, money, money.
Imagine this, you bought Toto and became a millionaire overnight. What’s your next move? Find that Singapore’s too safe, too clean, too stable, has a major lack of adventures and want to get out? Where would you migrate to?
Not sure about you but do you want to make a guess where did all the other millionaires go when they need a new environment to stay?
According to a study by New World Wealth, coming in first is Australia where they welcomed an estimated number of 11,000 millionaires, followed by the United States with 10,000 millionaires and then Canada with 8,000.
There are many reasons for millionaires to move, I guess. From safety, schools, better public policy, health care, investment opportunities, and even simply, cleanliness. I’m certainly not surprised why and how we have attracted so many famous people to migrate here over the past few years.
On the other end of the spectrum, 12,000 millionaires left France, China ranks second with 9,000 millionaires leaving the country, and followed by Brazil with 8,000.
I’m very curious, though, about where Singapore stands in the list but the full report will cost me $1,286 USD to purchase. So well, a little goes a long way in accumulating my own very first million lol.
In case you are wondering, the overall number of millionaire migrants is also rising. Last year, 82,000 millionaires migrated worldwide, up from 64,000 in 2015.
However, my main question isn’t about the country listing in detail or how many millionaires are there exactly. But rather,
WHY ARE THERE SO MANY MILLIONAIRES but I’M NOT ONE OF THEM?