by Simon Black, Sovereign Man:
According to a recent report from Bloomberg, more than 108,000 millionaires left their home countries last year in search of greener pastures.
Most emigrated from countries like China and Russia… no surprise there.
India also saw a large outflow of millionaires as tax authorities tightened their grip. And Turkey continues to see an exodus, in the wake of strong-man President Erdogan.
But Western countries like France and England also lost boat loads (or planes full) of millionaires. Excessive taxation is the most obvious reason.