A recent survey of wealthy Americans revealed that, while the majority of millionaires support Vice President Kamala Harris, 53% plan to leave the United States after the election regardless of who the winning candidate is.
The survey of more than 1,000 millionaires, conducted by investor migration consultancy Arton Capital, indicated that the state of the economy and the political landscape have left many wealthy individuals considering new horizons in November.
With a month left before Election Day, Harris leads former President Donald Trump among millionaire voters, 52% to 42%. Among wealthy men, Harris edged out Trump by just 1%, while among wealthy women, there is a 22-point difference between the candidates.
Forty percent of millionaires believe they would have a better quality of life overseas during a Harris presidency, compared with 35% who believe the same about Trump. Regardless of who they support, however, half of all millionaires are concerned about economic struggles under either candidate.
“Our survey has revealed just how tired many Americans are of the rising political division at home. Many are now looking to hedge their bets and secure a ‘plan B’ residence overseas, regardless of the outcome of the election,” said Armand Arton, founder of Arton Capital and The Passport Index, in a statement.
Forty-two percent of individuals surveyed —and 64% of those ages 18-to-29 — expressed interest in using so-called golden visas, which grant people residence or citizenship via economic investment.
“The appetite for golden visas and citizenship by investment programs recorded amongst younger people is especially revealing. It exemplifies how the polarization in American politics, whether on the right or the left, is pushing many citizens to consider another future away from the US’s shores,” Arton said.
The U.S.’s northern neighbor, Canada, is leading the pack among potential exit strategies for millionaires, followed by Australia, New Zealand, and the United Kingdom. Arton noted, however, that the U.K. is seeing a “wealth exit” of its own.
‘We’ve observed record demand for alternative residencies and citizenships across the globe. Our world is growing increasingly turbulent,” Arton told Quartz.
“For many, political instability is the factor that forces them overseas, and elections in the United Kingdom, France, and the United States have led many investors to find out how beneficial an additional citizenship or residency can be.”