Russia Will Be Impoverished by 15.000 Currency Millionaires

by Olha Povaliaieva
Wednesday, June 15, 2022
Russia Will Be Impoverished by 15.000 Currency Millionaires

Because of the sanctions, everyone who cares about the fate of their business is leaving Russia. Many of them go to Ukraine

According to analysts, due to Russia's attack on Ukraine, the largest migration of wealthy people in the country's history (except for the period of dispossession) is observed on the territory of the aggressor country. In particular, dollar millionaires. This was reported by the consulting company Henley & Partners.
Based on the analysis of the London office, in the coming months, Russia will see a massive replacement of the population: about 15% of all residents with a capital of more than $1 million will leave the country by the end of a year, and about migrants from developing countries will come in their place. It is noted that by the end of the year, their number will be 9.500 more than in 2019 before the pandemic.

"Over the past 10 years, the number of wealthy people emigrating from Russia has steadily increased every year. This has been an early warning of the problems the country is facing. Historically, large country collapses have usually been preceded by an accelerated departure of rich people," Andrew Amoils, CEO of the research department of New World Wealth in an interview with The Guardian.

Jürg Steffen, CEO of Henley & Partners, noted that by the end of 2022, about 88.000 would move to other countries. This number is 22.000 more than during the 2019 pandemic.

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