The Dhaka Times Desk Many Russian billionaires have started to turn their backs on the administration of President Vladimir Putin due to the aggression in Ukraine.
An analysis of immigration data shows that more than 15,000 billionaires may leave Russia this year.
According to calculations by Henley & Partners, a London-based firm that analyzes migration data, about 15 percent of Russian citizens with assets of more than $1 million are expected to move to another country by 2022.
Henley & Partners works to connect tycoons and the countries that sell them citizenship. "Russia is basically hemorrhaging billionaires," said Andrew Amoils, head of research at New World Wealth, a firm that collected data for Henley. The number of rich people leaving Russia every year has been increasing for the past decade. This is an early warning sign of the problems the country is currently facing. Historically, the decline of large countries is usually accelerated by the emigration of wealthy individuals. They often leave first because they have no other choice.'
On the other hand, a large part of Ukraine's billionaires may also leave the country this year, according to Henley and Partners. 2 thousand 800 millionaires can leave Ukraine this year. The world's rich have traditionally migrated to the United States and the United Kingdom. But Henley & Partners says the UAE is expected to overtake them as the number one destination for wealthy expats. Around 4,000 millionaires are also expected to migrate to the Middle Eastern country this year.
Many of Russia's billionaires are now turning their backs on President Putin because of the attack on Ukraine. That's why many people are thinking of choosing Nainaviram United Arab Emirates as their safe place. Source: The Guardian.
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