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‘The first time ever in my career’: Senior Citi executive on why the ultrawealthy want to diversify away from America
- Wealthy Americans are increasingly getting second residencies or “booking” assets overseas (think golden visas and accounts in places like Europe, Asia and the Channel Islands) — a shift Citi calls unprecedented but not necessarily full-scale emigration.
- The main drivers are optionality and stability: concerns about U.S. policy risk, desire for predictable rule-of-law jurisdictions, plus lifestyle and business opportunities abroad.
- It’s more diversification than flight — many keep wealth in the U.S. while adding foreign footholds, and family offices are actively reallocating and doing more direct/private global investing.
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