Even as the US stays a major wealth hub, many foreign-born ultra-rich are diversifying residencies and investments—turning to places like Singapore and Dubai for flexibility and risk control.
The US remains a magnet for the world’s wealth, but an increasing slice of the ultra-rich is hedging their bets elsewhere.
The numbers behind the shift are stark: 40% of the global ultra-rich—around 221,800 people—live in the United States, according to a report discussed by Misryoum.. Yet among foreign-born individuals with at least $30 million in investable assets, excluding primary residences, interest in concentrating everything in one place appears to be cooling.. This group makes up about 13% of ultra-high-net-worth people in the US, suggesting that even within the dominant wealth hub, a growing minority is already planning beyond it.
Misryoum understands the underlying impulse is not simply to “leave” so much as to diversify the foundations of wealth.. The report’s framing points to a change in mindset: fewer people are treating a single country as the only pillar of both residence and investments.. That may sound technical, but in practice it changes decisions that affect taxes, legal risk, mobility, and day-to-day lifestyle options for families with global business interests.
A “portfolio mindset” is reshaping residency
For the ultra-wealthy, residency has long been tied to stability—where they live most of the time, where they structure finances, and where they plan long-term.. Traditionally, many followed a model built around one primary base.. Now, Misryoum notes that the model is evolving into what the report calls a “portfolio approach,” where people treat locations the way they treat investments: distributed to reduce exposure.
This shift is happening as global conditions grow harder to predict.. The report points to economic uncertainty, changing tax regimes in parts of the US, and rising regulatory complexity.. Even if the US remains a strong platform for finance, the question is whether concentration still feels safe when rules can change and risks can appear quickly.
Why Singapore, Dubai—and Europe—are pulling attention
The US continues to draw interest because of the breadth of its financial ecosystem, including deep capital markets, infrastructure, and access to innovation. Misryoum also sees a clear practical logic: for wealthy investors, growth opportunities still matter, not just preservation.
But according to the report, London’s share of attraction as a global wealth hub is slipping, while cities such as Singapore and Dubai are becoming more appealing.. The appeal is not only about glamour; it’s about flexibility and the ability to adjust quickly when geopolitics, regulation, or personal circumstances change.. In a world where wealth can be moved and managed across borders, the “where” question can become as important as the “how” of investing.
What’s also at play is a broader internationalization of wealth itself.. The report suggests that the rich and ultra-rich are spreading their footprints across more global cities.. Misryoum readers may recognize this as a trend that shows up outside finance too: mobility is easier, international schooling and business networks are more common, and people increasingly plan for multiple pathways rather than one.
What this could mean for the US next
The US may remain the principal base for many families—especially where business interests, family ties, and major investments are anchored.. Still, the report’s warning is that the US could increasingly sit alongside secondary bases in Europe, the Middle East, and Asia.. That scenario matters because even a partial shift in behavior can affect demand across financial services, advisors, and high-end professional ecosystems tied to long-term residency.
Misryoum also flags a timing issue: the report projects growth among the ultra-rich over the coming years.. It estimates that the number of individuals holding more than $5 million could reach 7.7 million by 2030, while the ultrarich—those with $30 million or more—could rise by roughly a third from 2025 to about 734,100 people.. With wealth expected to grow, where that new concentration lands will influence which cities deepen their advantage.
There’s a more subtle implication too.. If high-net-worth individuals increasingly ask, “What’s my plan B?”, the US may face more competition for roles that once seemed harder to replicate—such as serving as a single, all-purpose hub for growth, stability, and mobility.. Some families may keep the US as a primary base, but broaden their options elsewhere through dual nationality or temporary residence programs, including approaches often described in media as “golden visas” or citizenship-by-investment pathways.
For the US, the practical question becomes: does it remain the default headquarters for wealth, or does it become one of several global bases where money and people can reposition?. Misryoum’s takeaway is that global uncertainty is not going away.. And as complexity grows, flexibility becomes a form of protection—changing how the ultra-rich plan their lives and their finances.