Millionaire Exodus!
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- Опубліковано 20 чер 2024
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Millionaires are leaving the UK faster than any country in the world other than China, new data shows.
According to the Henley Private Wealth Migration Report, 9,500 millionaires, defined in US dollar terms are leaving the UK this year. Only China - which has more than twice as many people with seven-figure net worths - saw more millionaires leave.
This is a new record outflow for the UK, with London expected to be especially hard hit. The top destinations for millionaires leaving the UK include Paris, Dubai, Amsterdam, Monaco, Geneva, Sydney, and Singapore, as well as retirement hotspots such as Florida, the Algarve, Malta, and the Italian Riviera.”
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Get a new video editor who doesn't put GARBAGE ai stills over your speech. looks tacky.
Odoo is one of the very few sponsors I'd get excited about. I'm a software guy and theirs is actually Free Software (as in freedom, not beer). This has a ton of benefits and is very rare in commercial software.
According to the 2 charts presented 33300 have moved out of a country and only 25800 have moved into a country, meaning countries on that chart, which leaves still rougly 7500 or 1/4 that are chosing different destinations and in total that is more then the number of those that have moved to UAE and is half the number of those that left china. I'd like to know where those people went :)
صوتك منخفض جداً لا أسمع بوضوح
@@hebestreitfan6973 there goes webdev
its ok to blink Patrick, we come in peace
He sleeps with his eyes wide open
He's an AI, he can't.
🤣
LMAO! 😂
I watched a Joe Blogs video last night and one comment was something like "he blinked 120 times in 2 minutes!". Welcome to UA-cam, land of extremes.
I don't think millionaires from Zimbabwe were taken into account.
They aren't any. Everyone's a billionaire. Heck, I'm a Zim billionaire too. A trillionaire even. I went to the forex (on ebay) and traded some US for some Zim trillion dollar bills. I probably paid too much for them but I thought that I might not have much of an opportunity again. I was right. They knocked off a few zeros not long after. lol
@@markusgorelli5278 thats the joke
Zimbabwe's millionaires know well the effects of inflation. Fortunately, its not too hard to become a trillionaire there, if you find the right piece of decarded paper on the ground...
@@markusgorelli5278 I'm still working on the first billion in Canada. Some of my relatives are in the Canadian Who's Who and are billionaires.
He did say the report was in liquid US$
a million isn't what it used to be
Thank you for explaining inflation.
I was going to state the same. Millionaire hasn't been a exclusive club for some time now.
It's a million in liquid assets - cash, bonds and stocks - in addition to any illiquid assets like real estate and businesses. If you have over a million in cash savings, you're likely to have at least that much or more in real estate.
a million is what 100k used to be :(
@@CorporateShill66 No, USD and GBP et cetera western currencies have lost 99% of their gold value since year 1900. So a million is what 10,000 used to be.
My biggest takeaway is that the uber-rich want everything a stable government can provide but don't want to pay for it.
They keep the money precisely because they don’t want to spend it.
America’s “temporarily embarrased millionaire” libertarians pitch for the same, thinking a competent government can be somehow achieved without public spending or vital reliance on foreign markets.
Ancient Rome's patron god of the wealthy was also the patron god of thieves.
I would disagree. Here in Switzerland, rich people are 'happy' to pay for it. By that I don't mean they are literally happy to pay taxes. But they (and most reasonable people) understand that a well-functioning state with infrastructure, education, a legal system, etc. needs tax revenue. It's just the absurd percentage that normal and rich people have to pay in high tax countries like Germany, the UK, Spain, etc. where the taxes levied are completely unreasonable. Why should anyone with half a brain want to work literally 50% of their time for the government? Makes no sense.
The tax rate for the median income is about 25% in Germany 💁♂️
Your content is so not my thing but your delivery keeps me coming back. I’m educated against my will. The financial and economic info, I mean. I originally found your channel while looking for rap news.
This comment ended in exactly the way I hoped it would
@@RichWithTech😂
That's pretty funny.
LOL, too funny.
I love his way of delivery. It’s slow, yet concise and clear.
It's funny to think that when I was a kid the concept of a millionaire felt so out of reach. Now though due to house price rises and inflation basically anyone over the age of 65 in major cities who owns their home is likely a millionaire.
Over the age of 65 (and still living off healthcare spending) is right there. the median income of the living and working human population in the uk is 33k pounds so yea I doubt there will be many living millionaires over 65 there in the future
Not with a liquid million tho
Many are owned by the same few people.
Sorry, but that is an insane statement. About 5% of the population are millionaires and about 10% of houses are worth more than 1 million. That just means that if you own a home you are about twice as likely to be a millionaire. Pretty much what you'd expect, I think.
And if you bought your home with debt, even if it is worth 1 million dollar, your net worth could still be below 1 million.
Inflation???
I thought it was touching that you expressed the idea that politicians should follow a logical approach to issues.
It is quite telling how Canada is attracting such large numbers of millionaires and yet the educated young middle class wants to move abroad and poor people are struggling
Yes, indeed but what do you think they did to attract the upper class?
In Western Europe most new millionaires are created by parasiting on the tax payers and by inflation profiteering. They love globalist socialliberal clowns like Trudeau and they hate filthy children and workers.
@liamhotspur9182 Money laundering. You have rich children from Chinese aristocrats, Africa dictators, and other people who wouldn't be allowed into the US.
I have classmates who outright tell me they are just moving their parents money. How else do you think a 20 year old who never worked is able to buy a GTR, and an apartment?
@liamhotspur9182 in the meantime, I was let go from my job because they hired like 20 Indian people who are earning 20% below the lowest market wages. People with families were let go and I am struggling to even paid for school next semestre before I graduate from uni.
Believe me when I say this, cansdian politicians have no idea what thry are breeding at the universities. Everyone is radicalized crazy fast because the main parties keep ignoring the youth, the middle class, and the poor. My parents came here to scape communism and it is quite scary how rapidly people radicalize.
@@jjj8317 Oh, the Chinese aristocrats who manufacture all the great stuff and who build a hightech, rational, crime free, clean society. Who in less than 50 years lifted a Billion human beings out of starvation threatened poverty, to quickly advancing middle class whose children now takes PhDs in science to promote further creation of wealth. No human being has ever done more good for all of human kind than those who are running the Chinese government!
You don't mean the socialliberal maffia politicians who steal 50% of everyone elses incomes in tax, and give away those €Trillions every year to their bribing ultrarich special interests?
Or the parasiting traitor generation who ruthlessly enrich themselves on the homelessness of their children's generation and the general zero interest rate inflation. Whose only goal in life is to die before the Ponzi scheme collapse. Who never created anything that has any value for anyone.
Every time you showed a Canadian, I laughed so hard I almost dropped my axe!
Great video as always!
I'm a lumberjack and I'm ok... 😉
I work all night and I sleep all day?
The best one was, of course, Richard Coffin.
You can see Richard Coffin’s rented Lamborghini is parked in a Timmy’s parking lot 😂❤
Careful with that, you might startle the moose you're riding!
Over 20 years ago I worked in India for a few years. While there one of the locals I worked with had relocated back to India (Bangalore) recently. I asked him what it was like, making that move back to India (having been born and raised in India). His reply was (I thought) hilarious: "I can find all of the luxuries and none of the necessities." Stories about people who were retiring back to India and then re-emigrating within a year or two were not uncommon.
Bangalore is a somewhat terrible city to live in despite having the best weather for someone who is from an even more tropical area.
It caters to most whims and luxury at a remarkably low price while roads, roadsides, public healthcare and public transportation is terrible.
Especially the water and sewage system is beyond redemption.
I still continue to live there most of the year because of the job, it being a city and being somewhat close to my native.
@@aravindpallippara1577 I was there in the late 1990's so I assume it has changed markedly. I really liked the people and am glad I was there, but I have never wanted to return. The traffic was impossible. Sanitation was spotty at best. I got food poisoning about 4 times and it took at least 5 years to recover my digestive tract. Other than that, it was fascinating.
Bangalore’s an urban nightmare, as are all the other big employment-generating cities including Delhi-NCR and Mumbai. I love the country as someone who’s from here, people are decent for the most part, luxuries are affordable (though that’s less of a pull for me), but the quality of life that’s ghastly. As someone with a decently paying job and able to afford private healthcare and excellent schooling for the kids, these two aspects don’t bother me much. But the terrible air pollution, general lack of civic sense exemplified by widespread littering, constantly changing policies and regulations, and the difficulty of navigating the city with terrible traffic definitely gets to me. I’m not a millionaire but relocated last year and don’t see myself moving back any time soon especially with a child on the way. Further, house prices in a decent part of any of the big cities are pretty much out of the reach of the regular salaried middle class, why would I pay advanced economy prices living in a developing economy simply due to real estate speculation led by ill-gotten wealth being stashed in real estate? The seriously deep income inequality will also likely spiral into socio-political chaos in the next few years. It’s a ticking time-bomb and honestly quite sad for a country that has incredible potential.
@@aravindpallippara1577 Course those problems are all about as bad or even worse in any other big city in India.
@@claymadnessThe percentage of "educated and skilled" people in India vs the remainder is so wide it's definitely a ticking bomb.
The so called rich/debt laden people with their fancy debt fuelled lifestyle makes the others feel even more shunned.
Combine that with a "special" section of the population who multiply like rabbits but don't want to upskill themselves and would rather sell their votes for freebies....and we have a serious problem at hand that just might get completely out of control if things are not tackled with some seriousness.
Both political parties offer freebies to keep getting votes while the middle class keeps bearing the burden of keeping the country afloat.
Good times ahead indeed.......
Everyone who owns a home in Sydney is a millionaire.
Everyone who owns a House in Switzerland is too.
also in Zimbabwe
@@alltheusernameswastaken8936trillionaire
Usually "millionaire" is taken to only include investable assets, which primary residence isn't; and in USD not dollarydoos
Don't come to Australia. Our living standards have dropped. Our government has lost all credibility and our houses average around one million in capital cities .
I just love how you constantly drop "the plain bagel" posing on a luxury car 😅
Millionaire migration to the UAE is probably because it’s easier to run a crime syndicate from there.
The UAE is a crime syndicate. They neither enforce nor follow their own laws
And prostitutes abound in every possible form.
UAE is so ugly and bland. Who’d want to willingly live there unless to conduct criminal activity 😂
Yep it’s exactly the type. Shaking the average person down and coercing them out of their money. All while giving nothing back and turning a blind eye to crime. Never mind that the western governments that people are leaving behind
AED is pegged to USD, so it’s a straightforward way to launder dirty or overvalued currency into one that’s more respectable 💱
Im a hawaiian, Hawaii resident and we have a major immigration issue regarding foriegn corporate conglomerates buying real estate through harmful practices and stealing land from natives. This effecgs landscapes, sacred native lands, burial sites, historical landmarks, and ocean and plant life. Hawaii is full circle of a thriving ecosystem and people but foreign entities are attempting to ruin what makes this place what it is. We will eventually just be land in a body water used as a tourist attraction with just hotels and with no hawaiians
How is that an immigration issue exactly? That is a legal/business issue and your legislature allows it.
yes, but if there wasn't single family zoning, less land would be taken up by housing, and thus less environmental destruction. this could be more of a issue than investors.
@@vmoses1979non Hawaiians move in and destroy their culture. It is both legal and immigration issue
I am surprised to hear it isn't still, as that's how I've always seen it through media.
My wife is from Hawaii, the US govt doesn't care about native Hawaiians. Silicon Valley billionaires have been buying so much real estate locals are pushed out from their own lands for a long time.
I think a lot of people in the comments missed that he said liquid million. Helps to contextualize the rest of the video
I wonder how 'liquid'. Because that just seems irresponsible/thick. I can't even fathom why I would need to have a mm cash. What HNI doesn't have credit?
@@OhAwe I've got about 20 million Canadian liquid cash all in Mexican Pesos earning daily interest down in Mexico.
@@parkerbohnn Why? All my capital is in assets making me money, I don't really understand why someone would do anything else when the cost of credit is substantially less than ROCE.
@@OhAwe "liquid" includes stocks and crypto
@@parkerbohnn no you don't
You can see at 5:50 that Portugal receives 800 millionaires while Brazil looses 800. I suspect a big deal of that is of retirees, Brazilians consider Portugal a great place for retirement: it’s cheap, same language and there’s no income tax for retirees whose income comes from Brazil
it's actually not that cheap (anymore). there has been an influx of emigrants from the US in particular, buying homes in the nice places, increasing the cost of living of natives.
Cheap 😂😂
Rich Brazilians,Americans,Brits ect even Chinese already brought ou the country.
The Brits own Algarve, Americans Lisbon ect they are a few but there wallets are 2x 3x 4x bigger than ours 😂😂
@@weird-guy the cheap areas are in humid, interior, abandoned farms and villages with bad water, scorpions and snakes, poor roads infrastructure, and insular people. those farms on the market cheap were abandoned....fifty years ago.
Portugal is dying, it desperately needs immigrants, what better than Brazilians? It’s sort of an ironic reversal like Italian Americans buying real estate in italy
They all probably use Temu, that's the big secret!
Hahahahahaha
No they dont otherwise they would be billionaires
Uh Uh
Good choice using that BagelButts NFT scammer to represent Canadian millionaires
+1
BagelButts to the Moon!🚀🚀#wagmi
Part of the problem is that younger people can't afford to have kids and many spent a disproportionate amount of time they should be setting down in their 20s going into debt for pretty worthless pieces of paper. Then there's a mad rush to move up the career ladder, pay for a wedding, buy a house and start a family all at once. No wonder so many don't make it into early middle age with all the traditional markers of adulthood, and we have huge issues with slumping birthrates, loneliness etc etc. Immigration can paper over this for a bit, but by the second generation migrants' kids display the same patterns because they face the same issues.
Non of things are issues anyone else can do about it. The people themselves must help change their own life. There is not one stopping you from settling down and building out a good future. The worthless degree, no one forced you to take the course and be a loser. If you go to China the younger generation are choosing good degrees and starting to build out their life. The complaining is at a all time high for a period in human history which happens to be the most wealth available and safest time ever to live
@@ObstaclestoOpportunities🤦
@@ObstaclestoOpportunitiesIf you actually knew average people who lived and worked in China, you would know that the competition among new college graduates there is fierce, jobs are scarce, the economy is hanging on by a thread, future prospects are grim, parents are freaking out about their school-aged children’s futures. You clearly haven’t heard about the “lying flat” phenomenon where a huge number young people are giving up completely on the idea of getting married, finding a good job, and starting their life and decide instead to live with their parents and just do the minimum to survive.
You clearly know nothing about China.
The interesting thing is that it’s true in both eastern and western countries. Korea, Japan, and China are going through the same thing that the UK, US, and Canada are experiencing. You have both male and female young people waiting longer and longer to get married and have kids because they work long hours and make too little money to afford a house and kids and live comfortably. So the native populations are starting to drop and all these countries are facing an aging crisis.
@@ObstaclestoOpportunities yeah if you complained back then they would call you heretical, you sound like the type who would never see problems with that
Ed the Sock, Canada: 15 years ago or more: "Everyone keeps talking about the brain drain, but HOW do we get rid of THE IDIOTS???"
Start telling them that they're smart and boost their confidence. Then they too will want to follow the smart ones out of the country.
Did you give up your guns? Oops!
The answer is not political correct.
To drastically reduce the idiots, offer free and readily available birth control, especially to the white teens. Which is why the Republican Party is planning on outlawing contraceptives as well as abortions. They know that their party attracts the gullible, those prone to believe lies and accept authoritarian control based on faith instead of data. The Republican Party plans on out-breeding the Americans determined to maintain a democracy. Ironically banning abortions will CAUSE the Republican Party's nightmare "Great Replacement" conspiracy to happen, since black women have abortions at 5 times the rate of white women, and Hispanic women at least twice the rate of white women. Minority women also use contraceptives at higher rates than white women. Since American white Republicans are far more destructive to the environment, reducing their opportunities to breed will help the environment, too.
Fentanyl and meth.
It's interesting how the process of immigrating anywhere is trivialized by just coming in with a gigantic bag of cash.
Well given the issue is that in most developed countries there's a serious problem of immigrants mostly being economic parasites, it's easy enough to argue you'll be a contributor if you come in with too much to be anything else.
In the Netherlands they don`t even need a bag of cash.
@@ZontarDow Yet these "parasites" seem to be let in in huge numbers, despite the rhetoric against them. Very interesting.
@@ZontarDow calling a whole group of foreign people "parasites", I have an idea where this is going. Funny enough, you're playing both sides of the story in this comment section, nice trolling.
@@ZontarDow Except that's a lie peddled by racists. immigrants, or rather what people are using the word to describe - refugees - are a net positive on an economy even with the often lower paid jobs they do. because they want to work. its the opposite of a serious problem because of lower birth rates and higher numbers of older people needing care - more people are needed. But because racists complain 24/7 about "immigrants are problem hurr durr" other people respond to it and essentially cause a streisand effect making it more of a topic so people think its true. when its not.
Did anyone else spot the bit about UK inflation being driven by "over-reliance on Russian gas"? Am I mis-remembering that the UK had almost no reliance on Russian gas prior to the war in Ukraine?
No, you're not, the article he's referencing is very poorly researched.
(Well, it's not really an article, it's a press release from what is effectively a lobby group for ultra-high net worth individuals.)
My understanding is that the UK gets its gas from Norway on a long-term contract. And gets very little from Russia.
You're right. Very disappointing that Patrick didn't spot this.
It doesn't rely on Russia for gas. The impact was felt because of the resultant higher gas prices, not supply.
@@davidjma7226 It was compounded by the almost complete lack of gas storage, many sites have been demolished and sold off in a rush to "just-in-time" supplies, where storage of gas is miniscule, to cut costs, but you become very vulnerable to price fluctuations, as you must buy gas on a daily basis, instead of being able to stockpile gas when the prices are low.
Rishi Sunak was supposed to halt low skilled and high crime boat migrants from Africa and the middle east.
Instead he cut high skilled and low crime international students.
Who's that? Another diversity hire?
Suck it up mate. He was doing his best 🫠
crazy to see the UK fall so fast, from belgium
@@Justanother1ne Haven't been paying attention? 😂
International students take up 75% of the UK University places, so I have no clue how you think that international students have been cut. As for criminals arriving on small boats? Those were from Albania, which is in Europe. Some people believe the dumbest things, just because they are gullible enough to believe liars.
If one is admitted to a new country because of one's wealth, one should anticipate that if one's financial fortunes change, their new adopted home may become less friendly and accommodating. Financially-grounded allegiance is subject to fickle fortune.
UK being #2 in millionaire outflow is quite shocking.
Not surprising given the state of things nationally.
I've seen quite a lot of content on youtube on how grim the UK has become over the last decades, a big slow decline. The weather is depressing, the crime is getting out of hand, the economy is in shambles, the population is split into enclaves. The reasons to enjoy living your life in the UK seems to be vanishing very quickly from an outsiders perspective
I haven’t noticed the crime getting particularly any worse, and I’m pretty sure we’re all living in houses like before. The economy *is* a shambles though 🤣
@@ellieban 6 afghans commited murder or close to murder in 3 weeks in germany. You can look them up, one of the guys even killed his own daughter for some bullshit reason. 4 Deahts and 11 heavy wounded people, all by knife stabbing.
Just because you dont see these cases, doesnt mean crime is not increasing lol
The weather was always grim, crime was never far away if you weren't too busy navel-gazing to notice it, the economy was always stratified and the less said about people getting divided by invisible or self-imposed boundaries the better.
It was always this bad, we were just better at hiding it back then.
@@White90ice You never had murders before this? No one is saying there is no crime just that its not significantly worse now than before. Crime in UK is at an all time low really.
a big slow decline because the weather is bad? Was the UK the mediterranean before the Ice Age?
South Korea, when you consider its population size and its top notch infrastructures and fairly high standard of living, is becoming shockingly unpopular. As a resident I can assure you it is 95% due to politics. I guess that is the same for UK, top of the list by far if you consider only "normal" countries from western standard.
What kind of politics?
@@RavarsenBlogspot Short-sighted populist politics, focusing on maintaining power instead of making the right decisions for the future of the country. To be more specific, the leftist government 2017-2022 actively promoted class wars, inticing rage against "the rich"(very vague, broad, unintelligent term yes, and used on purpose by the propagandists), divided and encouraged conflict between sexes, professions on every subject it can gain popularity from, did not perform any reform or whatsoever on pressing matters such as the drying out pension because unpopular decision is necessary etc etc. When you get 5 years of that on top of already declining, aging society, you get South Korea. Lowest birth rate, highest suicide rate, lowest social cohesion, and finally, number 4 on this list.
@@RavarsenBlogspot I made a long reply but by editing I removed it accidentally... In short, populist politics that are shortsighted accelerated the aging of the population, lowered birth rate, encouraged social conflicts in south korea. To be more specific, the precedent government 2017-2022 started the trend of conflict of everyone against everyone, between sexes, classes, professions. All the while not doing anything necessary that could harm the popularity, such as pension reform , just to name the prime example. Current government is not competent enough to clean up the huge turd the precursor left either. In order to secure 4th place in rich exodus list as a developed country, you really have to try hard. And that's what korea did, we did everything we can to fuck ourselves in past 7 years. UK leads by far but I think we can catch up pretty soon.
@@user-df8fo7od3yexactly. I'm Australian and teach ESL. A number of my female Korean students have made passing comments about the bitter and mysogynistic views of their male counterparts. I always encourage Korean women to find a Western boyfriend instead if they want a partner. Or to stay in Australia (if they're in the country).
Nothing is a bigger turn off in the realm of sex / love / relationships / child-rearing than being with someone who hates you for your gender. No wonder the birth rate is so low in S Korea 🙄
@@user-df8fo7od3y This is woke politics.
A world where the only chance to get rich is speculating on stocks and real estate, theres something wrong right there, people that actually produce real goods make very little.
That's inherent to the system. Unless you want to get rid of capitalism, that's how it's going to be for ever.
Getting into a well paying career and being frugal can easily get you a liquid million before retirement.
Wrong. Those that make high value-add good, services, anything make a lot. No value, no money. If someone is doing basic manufacturing in the factory thats not a lot of value addded, why would they earn much?
Lots of self-employed mechanics, carpenters, etc. are millionaires. Lots of programmers, too. Check out the book "The Millionaire Next Door," it reveals a lot of interesting stuff on who the millionaires really are.
@@zagreus5773 It isn't about capitalism and you know it.
I think there needs to be made a difference between the various types of millionaires:
- old wealth/ trust funds : they don't really pay much taxes and don't really contribuite to the economy beyond their expenses - if they leave nothing really changes besides a reduction in the high-end property market
- active investors in the productive sectors: they produce the most benefits to the economy - if they leave the losses are immense, both in terms of lost taxes and lost economic opportunities
- parasitic "investors" : they usually made their fortunes in dubious fashion, are only in the country to park/whitewash their fortunes, tend to "invest" in real-estate, thus increasing cost of living for the rest of inhabitants - if they leave, there are only benefits for their former country of residence
It is very hard to differentiate people into any of these categories, nor are people typically completely one or the other. The categorization makes for a self-satisfactory theoretical concept, but ultimately not really practical to actually use.
A trust fund IS an active investor - Yes those people may be parasites on wealth they didn't earn, but it's still wealth they're taking out of the economy in the form of their trust fund and moving to a new economy in which it will invest on their behalf... They pay way more taxes than you realise because they are pure luxury goods consumers (VAT), it's these people who fund most of the social state for the working class.
@@ArawnOfAnnwn c'mon it's not rocket science :
- it's someone that inherited the wealth and has no substantial link to the economy - it's second case
- is in the process of accumulating wealth though something else than rent-seeking means - it's second case
- the money has been made somewhere else and is being brought into the the host country via : expensive art purchases, property purchases, and is coming from a country that oddly enough does not exchange financial info with the host country - it's third case .
Your categories aren't very good. Lots of words, decent punctuation - and I like the bullet points. But the rationale you use don't make much sense and overlap to large degrees.
And what is the 'active investor'? Is that someone who buys shares on the stock market? Or someone who lends money to enterprises needing capital or liquidity? It's not clear.
@@ArawnOfAnnwnwell, still much better than considering all the millioner, benefactor of society and sole driver of economy...
Immigration is good for the overall economy, but who is benefiting? For most of us it is Higher rents, a more competitive job market, stagnant wages, and price inflation as the resources are shared (supply demand). This obsession with constant growth needs to end, most of us are not benefiting from it.
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Mr. Patrick you have grown on me and I find your humour hilarious. You deserve so many more subscribers!
The number of millionaires leaving a country should either be normalized by the population of the country or the total number of millionaires. That is, dividing by a total gives a percentage and this allows one to compare countries to each other.
it should be the number of millionaires, not the population because of inflation
If the millionaires are taking the Concord, then they are in trouble. Think the last one is in a museum and probably isn't moving too quickly.
Well they seem to be keen on taking everything else so why would they not try and steal a Concorde from a museum?
@@Agnemons ChatGPT says it would cost close to GBP 100k to fully fuel Concorde at current UK refined petroleum product prices. That seems a good starting reason ...
@@SloverOfTeuth Only takes 10 out of 100 passengers to pay that fuel bill.
The paraffin pencil will never fly again.
Boom Supersonics will probably be offering us a Concorde experience soon.
Am I the only Canadian who who owns nothing in plaid?
Yes
As long as you still have your denim jacket you should be fine.
Own or wear?🤨
Haha
Not even pajamas? You may have to turn in your passport.
I could not afford to live as a millionaire in London.
Are sleeping bags THAT expensive there!? How many are homeless sleeping on London's streets, 100,000? 200,000? How many will it be in 10 years? One million? Two million?
The only sure shut thing is that no politician will eeven try to stop the fast acceleration of all kinds of problems at the same time. Because no voters care for voting for it. Because no one cares for starting up a new political movement that even suggests any cure.
No one in the western world cares about his/her own society. So the problem is that we have democracy. With Absolute Monarchy it wouldn't a problem that no commoners care. Because the King would care for his society, his private property, and make it prosperous just like every farmer family have done with their property across many generations throughout many centuries.
@@bjorntorlarsson Well technically that is not considered living in a place.
Hardeehar
Plenty of people who aren't millionaires living in London
@@IAmebAdger living like rubbish
If I were a millionaire you'd never catch me living in the most expensive places in the world. I'd want to keep my millions. Not lose my millions.
If I wer' a millionaire, n' U were a douche-bag, would U still marry me...
I think the title should be Billionaire exodus - If you reach a billion in net worth, you have a 99% probability that your money will out last your spending no matter how profligate you become - we will see the video has not dropped yet
Millionaires aren't the problem.
maybe thats why you aren't one
@@davidcollins8150 you can say the same for someone with 100 million.
like technically yeah u can out spend it but if you have a brain u can buy anything including hypercars and be fine
If they don't pay any taxes and don't actually live there to support local business, then what is lost if they leave?
They still spend money on entertainment food rent meals. If they had kids then a lot spent in private education
@@zurielsssa middle class family would do the same while using up much less resources, and they would actually be productive to their local economy.
@@zurielsss The revenue from those things is negligible, just somewhat higher than what is gained from the middle class. If you want to get meaningful benefit from the rich, you have to either tax them to get more of their money moving, or use taxes to make them invest said money to likewise get it moving. Their consumption won't amount to much. If you want to reach significant amounts raised via consumption, then a little money spread across lots of people achieves much more than a lot of money in few hands, as in the former case each of those people will spend a larger share of what they have.
Clearly a labour voter @@ArawnOfAnnwn
@@Pl89ukClearly a believer in trickle-dowm economics.
When a millionaire moves, they are an expat not a migrant.
Depends on point of view: expat to the donor country, immigrant to the receiver. Either way still a migrant.
You meant, asshole or 'leech on society'
I can think of few things worse than having to live in the UAE.
It's amazing how all these studies calling for more migration has no concern for anyone except the business owners to grow 2-3 % a year lol .
Oh man, the lettuce! 😂
Patrick has the best deadpan game since Norm Macdonald
The meaning of we deserve the government we have is because 1.) we vote for them and 2.) we allow them to do what they want. There is no one to blame but us. We are not even allowed to revolt anymore. For centuries, we can just revolt if we didn't like who were ruling us. Now, we are no longer allowed.
With respect to the UK, is it possible that millionaires that emigrate once are more likely to do so a second or third time? If so, it could explain why the rate of leaving the UK might be high; the people that came 10 or 20 or 30 years ago are relocating to the next country.
In Canada the East Indian families I know from Commonwealth countries keeps their "Kash and Gold" in the UK, and always have. (insert Commonwealth country here).
I'm absolutely sure it has nothing to do with Brexit 😂
@@jaihawkins Definitely nothing to do with Brexit, I personally love watching the unicorns prancing around on the sunlit uplands, best decision by the voting public ever!!
@9:04 LOL The high net worth Russians all in gopnik designer track suits. 🤣
There is no point adding workers to Britain plc. This country is not making a fiscal surplus with the people it has got. That needs fixing first before you bring in anyone other than a genius or a billionaire
The British need to either rejoin the EU or actually fix their own regulatory system. Immigrates are just the scape goat their
16:54 The picture reference for British culture made laugh out loud 🤣
Patricks humour is unmatched !
Legend
Patrick is right about Florida. It's growing fast for 3 reasons.
1. People look at Florida like it's the 1970's and fun in the sun. It's not.
2. People can get a good price on some homes, Only to find they need to upgrade the house to flood and huricane code. If they don't, they can't move in, or even get insurance which is usually 3x what the previous owner paid. You might have to raise the height of your home, install hurricane proof windows and roof. Previous owners were exempt from this, but not you. Often, you'll find fish swimming in the streets during flooding, and at times the rare Kracken will appear 😮.
3. People love the image of number one, and they don't do due diligence because a lot of morons like to live in Florida.
Old people move to Florida largely because it's cheaper and warm, so their bones don't ache as much
Seems like you love socialism :p
I love Cali and NY but the electorate and political elites THERE are the REAL STUPID.
they release the criminal cuz race and jail you for defending urself against the criminal cuz RACE.
they remove all pro freedom and pro individual policies that made these places industrial and great to begin with
Hyper super tax the middle class for the lazy corrupt class with 0 services.
I beg to differ on who's stupid
Florida should come with a warning label informing potential home-buyers that Florida sucks. It smells, public services are terrible to non-existent, and you'll be stung by swarms of fire ants on the regular. The roads are a disaster, which is really remarkable in a warm weather state. The slick coating of roadkill certainly doesn't help, nor the lack of basic features like drains, curbs and guard-rails.
Older homes lack both air conditioning and insulation, and the windows don't even keep out the daily torrential rain shower. Newer homes do have air conditioning, but are still poorly insulated, with the predictable impact on your electric bill.
Even the grass is terrible in Florida. I lived there for seven years, and only after leaving did I remember how unsuitable it is for human habitation.
I just wanna go in the swamp.
Florida is a nightmare if you live there…just go to Disney and fly back home.
You are the most underrated entertainer on youtube. Love you.
Thank you, Mr. Boyle, for a wonderfully detailed report. Subscribed!
Great information, thanks man!
Thank you for covering this, Patrick. We've seen more westerners wanting to move in the last year than we ever could have dreamed of a decade ago.
Liz Truss replaced by the pic of a lettuce.. 😂😂🤣🤣
I really appreciate these vids for adressing important topics intelligently without repeating the talking points of self appointed media experts.
Thanks so much for creating and sharing this informative and educational video. Great job. Keep it up.
I love Patrick's intelligence, humor and insight and overflow of valuable information. P should lift his eyes to the larger paradoxes of this report on the flight of tender footed millionaires. Their wealth would give them access to the poetical levers in their own countries, assuming that's not the source of their wealth. IN that case what benefits in this regard do they bring to their adopted countries?
This is absolutely stunning in depth of analysis and insight! Thank you kindly, Mr. Boyle!
Thank you. I love your humor.
What you say is that wealthy AND poor migrants seek and need the SAME societal welfare - difference being how & who pays for that welfare.
It’s interesting (and tragic) that wealthy individuals have influenced the other 97 of 100 to believe in financial liberalism and be xenophobic - to cater for the interests of the 3 of 100.
These are _beliefs,_ not knowledge. It’s like a decay towards a techno-infused variant of medieval times. Conformity and competition cannot coexist.
You don’t get an open border and open benefits without making the natives very poor through tax and money printing.
I work in wealth management and most what I see are rich kids with their parents money and no skills. Also it’s hard to live in London if you are not a paper millionaire. Show me a london house that is not more than a million 😂
Thanks!
Interesting content as always . Thanks Patrick
There is no such thing as a "safe country". The recent "pandemic" has demonstrated that quite clearly. I've seen a few millionaire business owners from developed countries who out of nowhere have been completely ruined, their businesses utterly devastated, their retirement prospects and inheritance stripped away in a matter of months, by Western states everyone used to consider (and many consider still) democratic, safe and business-friendly.
The only reasonable way to go is the same, as with many other things: diversification. You get a portfolio of passports and real estate throughout the world. When another nut job comes into power in a country or part of the world you live, you just quickly hop on a plane and fly to a different one. Sources of income require decent diversification, which includes a geographical one, as well, of course.
Most people just plain ignore geographical diversification. Not because it's too expensive (it's not), but rather because it requires additional work. Every now and then some of them end up paying for it, and when an entire country goes down, it spells very bad prospects for those of its citizens who were complacent/foolish and didn't do their homework.
How and why do you think it's so easy to acquire residency or even citizenship in multiple countries unless you're very rich?
That economically nomadic lifestyle you're promoting is the preserve of the ultra-wealthy, and I have to be honest you have to have a certain kinda callous mindset that affiliation to a country is nothing but a "what's in it for me?" transactional relationship. It's so shallow and mercenary.
It doesn't even compare to the other type of economic migrant who will spend years to trying to get into a single country, usually work minimum wage during the best or most of their years while giving their productivity and loyalty (this is OFTEN overlooked by anti-immigrant types) to their host nation.
There's no thought to that single-minded wealth and administrative-stability extraction on this ultra-libertarian semi-nomad lifestyle. You're not invested in your neighbours, the links you set up there via business or civil engagement. No thought to if you come in with a more powerful currency, you're gentrifying/making unaffordable goods & resources for the locals. Like moving to gorgeous Bali mansions and wondering why only Westerners are in the big houses but the Balian locals all live densely-packed in the city-centre or villages.
Just ... "as soon as a politician you don't like comes in". What you couldn't get involved in the political and civil process to have your rightful say as a citizen? Couldn't organise, couldn't fundraise? Couldn't do that hardwork of being a citizen invested in their nation? Nope - just hop on a plane. So, so slimy.
So you mean be a neolib till the money faucet run dry? This right here is why rich people don't deserve rights.
@@akinyiomer4589 You still think we can change governments? how adorable.
Unfortunately not just in the west but also in the East including Russia and china, the governments have decimated the honest economy..
My survival strategy is to keep my head down and I move to Japan where things are way more affordable and you mentioned the word safe.. I felt that things were getting out of control even after leaving New York in my twenties, Colorado where I was living became a lot more dangerous than I was comfortable with.
@@Fanta.... Y'know that type of defeatism had me in a chokehold in my teens and twenties, so I get it. And I also get how exhausting & frustrating modern life is.
But how do you think we *got* the set-ups we have today? What you think the party that's been in power just magically got there? What made it an Opposition party before? If you live in a republic how did it get to be one? How did certain rules & laws get made and overthrown in your country? The second you pretend you have zero agency is the second it becomes true.
Millionaire use to mean insanely wealthy. Now you have to have at least a mill just to retire. It's scary to say, but millionaire is just uppermiddle class at this point.
I’d argue it’s still wealthy, and that positioning it as “middle class” is just marketing spin. A person with a million dollars is not in the middle of the economic spectrum, they’re in the top 10% in the US, and higher than that for the rest of the planet.
That's on paper. Do you like eating paper ? And if so, congratulations. You are a millionair !
@@epbrown01 it's middle class in comparison to who was middle class in the past.
@@RogerKeulen There is no where else where the designation matters. In terms of social status and lifestyle, you're rich or you're not. Terms like Millionaire are for people who like to keep score, it doesn't have any functional meaning outside of that. Someone who had a networth under a bill and over a mill, which can be *a lot* of people with how real estate and auto prices are.
@@epbrown01 That REALLY depends on where you live. $1 mill in Mississippi is not the same as $1 mill in California.
We've ALL lost 22% of our money from 2021 to today just from US inflation.
this reminds me of my mentor's advice- don't go where you're not wanted
Millionaires coming to AU are just considered as middle class. Every property owner in AU is more or less a millionaire.
Where is 'AU'?
@@danguee1 Au is Australia
really? so if im worth 350 million USD and move to aussie im just a middle class?
London is overrun and no longer British at all :(
Yes, thats normal. If you destroy complete countries the people that live there will move. Most of the time to countries that they think are advanced. Like having wierd drones that can shoot rockets for example. And tell the local people how great they are and how great there country is. And that everyone is free to do what they want. You know forain propaganda to get "good will".
Hi Patrick,
I'm not an avid viewer of your channel (although subscribed for a few years), but I wanted to share how pleased I am with the subtle balance between seriousness and humour your videos have reached. I recall there was a period when the video editing was a bit meme-heavy, so it's great you kept improving. And, as usual, greatly insightful talk on your behalf. Thank you very much.
😂the cabbage picture at 14 mins made my day😅
It's a lettuce!
I'm surprised Millionaires are moving to Canada. I thought the general concensus was that they were leaving.
Different millionaires want different things. Canada is for millionaires and billionaires that need to get money/kids out China
Warm clothes for Canada? A large number of those Chinese probably just went to Vancouver, where warm clothes is not nearly that essential.
There are a lot of Chinese people in my part of Ontario and it does get cold.
@@galerussell1710 'my part".....welcome.....to Kenora. Emo? Port Arthur/Fort William??
I love the graphical illustrations from luxury balaclava, British culture gets some football louds, the 3 rents PMs including the lettuce and many more gems all imbedded in the serious topic and narration. Well done
Fantastic job 🎉
Pat those glasses get me bricked up❤
Maybe they should make living affordable instead of just migrating people in?
It’s all fun and games until it has to be built in someone’s backyard
Lol your first sponsor ad came outta nowhere and your energy changes lol
wide ranging combo of brevity and density with questions more important than answers..as unsual great work!
Immigration is one of those things where the net effect can be positive, but the effect on certain individuals and communities can be negative. Telling the unemployed unskilled or semi-skilled native pushed out by cheap immigrant labour, or the long time citizen of an overcrowded city where public services are being strained and housing space is getting smaller and smaller, that their suffering will allow the economy to grow by an extra 2%, is obviously going to met with anger rather than acceptance. In the end, in a democracy, if you want people to accept the best policies for economic growth, everyone has to see the benefits.
They're going to learn this the hard way eventually. The disenfranchised aren't stupid and finally cluing in.
Hi Patrick, love your insights! As someone who works in finance, your videos keep me updated on industry trends. However, the AI-generated images detract from the video quality. They look noticeably off and reduce the video's overall appeal.
Bwahahahahahahahahaahahahah! That's funny! Good that you have the same sense of humor as Patrick.
I agree with you kenny. Ai generated images are a mark of low quality
I thought he was doing (at least some of them) as a joke.
Yea, esp the one at 18:32 really got me, that kid with a hand of a 30yo right in the center really felt weird. I wasn't gonna say anything till I saw this comment. I was disappointed when I saw the image though.
Thank you for this enlightening video, hope will make a video on Exodus of the Impoverished, top 10 countries.
very classy... difficult topic elegantly handled
Kind of dumb of Sunak to stilfe student migration. It's the people in the little boats that worry people.
worries are not necessarily rational. for the sake of the argument, I'd day the ones with education and degrees are probably more "dangerous", because these highly motivated smart people will get the top jobs your spoiled future academic kid will not get. While the ones in boats will likely be in the service industry at least in the first generation.
They had to limit it. As part of the regulations allowed them to take “dependants” with them.
'Student visa' abuse is routine as a form of above-board human smuggling. Show up to 'study' (sail into harbor), marry a local (drop anchor), and file for 'humane' immigration for your family (unload the goods; bonus, they don't even have to be your real family so long as you can offer an excuse for why records can't be produced... like a war in Syria or East Africa), and then divorce, dropout, and vanish into the local economy. Voila. You're present and home free, like a million predecessors, and you just call anyone who complains about it a racist.
A million dollars is not what it used to be.
Brilliant content sir🏆
lol the picture at 9:06 cracked me up
Millionnaire!?! If you’re over 50 years old and aren’t already a millionaire, your retirement is gonna suck.
The Henley & Partners report that Boyle references studies liquid millionaires, meaning they probably have total net assets of at least $2 million.
Capital flight has been commonplace these days in search of acquiring residency or citizenship in a handful of tax-friendly countries.
this guy doesnt seem to blink his eyes. amazing
Welcome to Florida, chaos awaits you. Pretty good place to move to if one of your retirement goals was to sit in traffic jams. Looking forward to having you ❤
Dubai, and UAE also known as crook paradise.
Sunny places for shady people.
Which London was used to be known as.
Love the shot at 14:36. A drop in sales of balaclavas can't be good ! :D
Getting your Rolex grabbed on the streets of London has something to do with it!
Rolex are for plebs, just like mercs are for drüg dealers.
Seiko and Audi is where it's at. Class while being understated.
Come on Patrick, blink, please
I would rather be the richest man in a small town with a Walmart than the top million in NYC.
That says that either you’ve never lived in NYC or you’ve never lived in a small town. I moved from a big city to a small town - it offers cheaper housing, lower property taxes, and less traffic. Everything else is worse, from the schools to culture to amenities and city services.
@@epbrown01 You skipped crime, filth, corruption, and intrusive, incompetent government that blames all their problems on you.
@@epbrown01 I live on the outskirts of a town of just over 300ppl about an hour away from a city of 1.5m, and what you say is true; land is cheap, it's quiet, the air quality is great and crime is basically non-existent. Outside of that, the only services in the town are a pub, a post office and a small cafe; the nearest supermarket is a 20min drive away, when I had to take dialysis the centre was a 40min drive away (3x a week), and everything else is in the city. You do save money out here because you can't just "pop out" for some take-away or something from the supermarket, your purchases have to be planned
I live in a major city for the amenities/ culture/ schools/ opportunities and I own a farm for everything else.
I’m a financial advisor in the UK. Lots of my clients are considering moving to Dubai/USA for higher wages, lower taxes and lower cost of living. If my clients leave, my income and quality of life decreases. I might have to follow.
Yeah the UK is destroying itself