U.S. Leads Global Wealth Growth, Yet Affluent Seek Foreign Investment Opportunities

Paragraph 1: US Wealth Dominance and the Rise of Alternative Citizenship Strategies

The United States remains the undisputed leader in global wealth, commanding 34% of the world’s total liquid private wealth and housing 37% of its millionaires. This dominance extends across all wealth brackets, with the US also holding the largest share of centi-millionaires (individuals with over USD 100 million) and billionaires. However, despite this affluence, a growing number of wealthy Americans are pursuing alternative residence and citizenship options abroad. This trend signifies a shift towards sophisticated wealth management strategies, where acquiring second citizenships and residences serves as a form of risk management, enhancing family resilience and providing access to global opportunities. This “Plan B” approach reflects a growing awareness that US citizenship alone may no longer offer sufficient security in an increasingly volatile world.

Paragraph 2: A Decade of US Wealth Growth Amidst Geopolitical Concerns

The past decade has witnessed remarkable growth in US wealth. The number of millionaires in the US increased by 78% between 2014 and 2024, surpassing growth in other major economies like China, and significantly outperforming countries like Germany, Japan, and the UK. The US now boasts over 6 million millionaires, 10,800 centi-millionaires, and over 850 billionaires, solidifying its top position among the wealthiest nations. However, this period of prosperity coincides with increasing geopolitical uncertainties, including trade wars and international tensions. These factors underscore the need for affluent investors to adopt agile and proactive wealth management strategies that account for potential disruptions and risks.

Paragraph 3: The Evolving Landscape of American Wealth Hubs

Traditional wealth centers like New York City and the Bay Area continue to dominate the US wealth landscape. New York remains the wealthiest city globally, with a substantial concentration of millionaires, centi-millionaires, and billionaires. The Bay Area closely follows, showcasing the highest growth in millionaire population among the top US cities, largely fueled by the booming tech sector. Other major cities like Los Angeles, Chicago, Houston, and Dallas also demonstrate robust growth, while emerging hubs like Scottsdale, West Palm Beach, Miami, and Austin are experiencing rapid wealth expansion, attracting a new generation of entrepreneurs and investors. This dynamic highlights the redistribution of wealth within the US, driven by factors like innovation, economic opportunities, and lifestyle preferences.

Paragraph 4: Shifting Demographics and the Allure of Business-Friendly Environments

Scottsdale’s remarkable 125% growth in millionaire population between 2014 and 2024 epitomizes the rapid ascent of new wealth hubs, driven primarily by its burgeoning tech industry. This trend illustrates broader demographic and economic shifts within the US, with cities like Tampa, Salt Lake City, Denver, and Santa Fe gaining traction among HNWIs. These locations offer a combination of affordability, appealing lifestyle, and promising investment potential. The dominance of the US in high-growth tech sectors continues to attract entrepreneurs and investors from around the world, though the geographical distribution of this wealth is increasingly diversifying beyond traditional tech hubs like the Bay Area.

Paragraph 5: Diversification Strategies and the Rise of Sovereign Portfolios

Wealthy Americans are increasingly adopting sophisticated wealth management strategies that go beyond traditional second passport programs. These "sovereign portfolios" involve strategically acquiring a combination of residences and citizenships in multiple jurisdictions to maximize mobility, protect assets, and expand global reach. This trend reflects a proactive approach to contingency planning and managing risks in an uncertain world. Europe remains a favored destination for alternative residence programs, offering lifestyle advantages and business opportunities. Many Americans are also seeking citizenship in countries in the Caribbean, Nauru, Türkiye, as well as Latin American nations and New Zealand, to further diversify their portfolios.

Paragraph 6: The EB-5 Program and the Continued Inward Flow of Investment

While wealthy Americans explore opportunities abroad, the US continues to attract significant foreign investment, particularly through the EB-5 Immigrant Investor Program. This program has generated substantial foreign direct investment, created jobs, and contributed significantly to tax revenues. Interest in the EB-5 program has surged in recent years, driven by its potential to provide a pathway to US citizenship. The introduction of President Trump’s "Gold Card" initiative, offering expedited citizenship for larger investments, further underscores the US commitment to attracting global wealth. This dynamic illustrates the enduring appeal of the US as a destination for wealth creation and growth, even as some wealthy Americans seek alternative options overseas. The simultaneous outward migration of US wealth and inward flow of foreign investment highlights the complex and interconnected nature of global wealth flows.