Thread: The rich are fleeing Russia, China and Hong Kong

Pretty telling graphic...



Mapping the Migration of the World’s Millionaires

At a quick glance the statistics on that map massively do not tally up.

You had a liquid breakfast Snubbles?

Not seeing how $1mill makes someone a HNW individual, not by a very long way. Australia looks to be getting the most of these so-called HNW people, the median price of a house in Sydney is 1.6mill and anywhere nice will easily be 3 to 4mill just to put things into perspective. A million in cash is not much these days.

Originally Posted by Headworx

A million in cash is not much these days.

I do not think that is the point of the graphic.

Originally Posted by Joe 90

At a quick glance the statistics on that map massively do not tally up.

What exactly does not add up, Einstein?

Originally Posted by bsnub

I do not think that is the point of the graphic.

It's the whole point of the graphic, it shows where people worth 1 million dollars are moving to.


If they'd have used (say) $25mill as the starting point for a HNWI it would have been more believable but as pointed out, $1mill wouldn't even buy you a small humble house in some capital cities in Oz so they'd need to work to pay a loan off to live in even a working class suburb. That's not what HNWI's do.

Originally Posted by Headworx

It's the whole point of the graphic, it shows where people worth 1 million dollars are moving to.

You said a million is not much and mentioned the cost of houses in Sydney. I responded to that. I agree that 1 mil does not constitute an HNWI for the most part, but the graphic is showing that capital is flowing in and out of certain countries. Specifically, the three I mentioned.

^Anyway, it's no surprise anyone in England with more than two sticks to rub together is out of there like a shot. You'll have our resident brittles up in arms any minute now

And they're buying up Phuket if you believe the Thais (well the Russians anyway).

Russia is literally bleeding money. One of President Putin’s great achievements was creating a wealthy elite that was loyal to him, but the wealthiest Russians have now had enough of the pariah nation.
New data released Friday from the British Defense Ministry shows a shocking number of Russian millionaires trying to get the hell out of the the country this year.

“Migration applications suggest that 15,000 Russian millionaires are likely already attempting to leave,” the ministry said, with most heading to the United Arab Emirates and Australia.

The news corresponds with a study earlier this week by the London-based Henley & Partners which facilitates residency applications and citizenship applications and which has apparently seen an uptick in Russian applications to get out of dodge since Putin’s invasion of Ukraine Feb. 24 of this year.

The group’s Private Wealth Migration Dashboard keeps tabs on some 150,000 super rich and monitors movement into and out of 62 countries, including Russia and the UAE. Some of the movement of wealthy people was expected after a halt during the height of the pandemic, but the group says geopolitics play a greater role than ever.

The exodus of 15,000 of the richest Russians is part of a huge movement of people unwilling to live under Putin’s increasingly unhinged autocracy. It is unclear if those fleeing will be able to take their assets with them or if Putin has complicated the process.

The Russian economy is in danger of collapsing as sanctions bite and there is no end in sight of restrictions from abroad. The European Union is threatening to end oil and gas imports and growing numbers of individuals, businesses and banks are cut off from international markets.

Dissent has been crushed and Russia’s middle classes and wealthy businessmen feel unable to discuss openly their concerns about Putin’s war in Ukraine.

For many or them, the only answer is to start a new life overseas.

https://www.thedailybeast.com/15000-...ng-putins-hell

So basically, in terms of % of HNW's, the rich are fleeing UKR (42%), and Rus (15%). Not so surprising really- they are at war. Nothing else very significant- Australia and it's lifestyle continue to attract HNW's, the alleged 2% HNW's that have left HK with it's onerous Covid regime have more than one residency anyway- they can come and go at will. And China, 1%- wow. That has forever been the case.

Originally Posted by bsnub

“Migration applications suggest that 15,000 Russian millionaires are likely already attempting to leave,” the ministry said, with most heading to the United Arab Emirates and Australia.

The UAE . . . who cares. Russians in an Arab country - good luck with that. Australia? Fat fucking chance of getting in. Red flags on the lot of them.

Originally Posted by sabang

the rich are fleeing UKR (42%), and Rus (15%). Not so surprising really- they are at war.

Ukrainians yes, but why would a war thousands of kms away in another country make Russians escape with their dosh? Because they know what lies ahead, and it isn't pretty.

Originally Posted by sabang

China, 1%- wow. That has forever been the case.

Are you drunk? It certainly has not 'forever been the case'.
The point is that the wealthy are leaving China, taking with them their knowledge and experience.

Just once can you stop being so a knee-jerk apologist for the place, you're looking quite the idiot every single time.

Originally Posted by panama hat

The point is that the wealthy are leaving China, taking with them their knowledge and experience.

Many of them wind up in Canada or the US west coast.

Originally Posted by panama hat

Just once can you stop being so a knee-jerk apologist for the place, you're looking quite the idiot every single time.

I could see him as a pathetic groveler as well.

^^ Yes, it has- particularly in the 'bad old days', when plenty of Chinese fortunes came off corruption. Many made their stash, then fled! If I were a rich as Croesus HKer or Chinaguy, I myself would be domiciling elsewhere until the worse of the Covid restrictions are over. My ex- business partner only recently returned to HK, after a 5-6 month sojourn in Oz.

Originally Posted by sabang

particularly in the 'bad old days', when plenty of Chinese fortunes came off corruption

Utter rubbish. You really have no clue as to what actually occurs.

Originally Posted by sabang

My ex- business partner only recently returned to HK, after a 5-6 month sojourn in Oz.

Of course you had and of course he did.

You're so lucky to know people who always happen to support you assertion at just the right time . . . aka bullshit. Still livin' it large with your other 'friend' in 'your house' in 'Thailand'?

Originally Posted by panama hat

Utter rubbish. You really have no clue as to what actually occurs.

It sure has him triggered, doesn't it.

Originally Posted by panama hat

Utter rubbish. You really have no clue as to what actually occurs.

Ok, what does occur?

Petulant children norts, and doesn't it show. Reflected by their station in life too, for everyone here to read and notice.

Originally Posted by sabang

Reflected by their station in life too, for everyone here to read and notice.

Exactly what are you talking about? You have been made a fool of here multiple times, to start with your months long tirade where you falsely claimed that Russia would never invade Ukraine.

You have never set foot in Thailand, HK or China "Mr Putin having his ass handed to him on a Plate". 'nuff said, child.

Originally Posted by sabang

You have never set foot in Thailand, HK or China

Not relevant at all, but I will say that I do know more than a few Chinese and HK refugees here in Seattle. They will not be going back.

Originally Posted by sabang

"Mr Putin having his ass handed to him on a Plate".

But he is.

You must have forgotten about that one, Sab. But life is so good there.



https://www.washingtonpost.com/world...5ce_story.html

They were Vietnamese, D'uhhhh. And what an example of the Rich fleeing someplace!




The laughs are on you child.

Originally Posted by sabang

The laughs are on you child.

You really are a clown. The point was life is not so good as you like to paint it in China, which is why both the rich and poor are fleeing.

But carry on with your usual diet of horseshit.

Originally Posted by sabang

Reflected by their station in life too, for everyone here to read and notice.

Station in life? But I thought your favoured countries were all about everyone being equal?

My favorite country is Australia- is everyone 'equal' there? Nope. My most impressive country in recent history is China, for obvious reasons. Everyone 'equal'? Nope. There is no such thing willy.