BY 2027, THE GULF AND THE US ABSORB THE BULK OF EUROPE'S DEPARTING FOUNDERS AND FAMILY OFFICES, AND THE CAPITAL DOES NOT RETURN EVEN IF THE TAXES REVERSE.

Question

Igor Beuker · Accepted Answer

Capital moves to where it is welcomed and away from where it is punished. I forecast that by 2027, the Gulf and the United States absorb the bulk of Europe's departing founders and family offices, and the capital does not return even if the taxes are later reversed. Wealth has a long memory. The scoreboard is already historic. The UK lost a net 16,500 millionaires in 2025, the largest single-country outflow ever recorded, on top of 9,500 in 2024. France, Spain, and Germany bled millionaires for the first time on record. Around 142,000 millionaires relocated globally in 2025. Meanwhile the UAE drew a net 9,800, the US about 7,500, and Saudi Arabia about 2,400, an eightfold jump. A continent that taxes ambition, buries it in paperwork, then fines it for leaving is not defending its tax base. It is teaching its best builders to go and never look back.

By 2027, the gulf and the US absorb the bulk of europe's departing founders and family offices, and the capital does not return even if the taxes reverse.