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The latest issue of the Knight Frank World Wealth Report will not make happy reading for those of us who thought they were seeing tentative signs that Putin’s Russia was making good progress on “nationalizing” its elites (e.g. multiple wealth amnesties, local Courchevel, local Hogwarts, etc).


First, Russia’s wealth structure remains extremely lop-sided. While there are ~100 Russian billionaires (about as many as in Germany, and twice the number in the UK), there are only about 2,620 Ultra High Net Worth Individuals (>$50 million), versus 8,070 in Germany and 4,580 in the UK.

UHNWI are a much better proxy for capitalistic dynamism than billionaire plutocrats, especially in a country like Russia, where most of them are made their wealth through their political connections.


Judging by their desire to emigrate and second passport possession rates, Russian UHNWI – we can comfortably use the term, since 2,620 of the 2,870 Russia and CIS UHNWI are specified as Russian – are effectively more comprador than the culture that gave the term its name.


Russian UHNWI don’t seem to want to buy homes in their own country: Russia isn’t a top property investment source for Russian UHNWI, whereas even for Latin Americans, Brazil and Mexico are.


The luxury consumption choices of Russian UHNWI are quite telling of their human capital, thrift, and patriotic investment priorities, or lack thereof.

Most popular flight routes: Moscow/Nice, presumably for the status signalling shopping, versus New York/Washington D.C. and Los Angeles/Las Vegas in the US, presumably for business and pleasure, respectively.

Russians have more yachts than anyone else other than the US, which has 10x+ as many UHNWI.

Moreover, the list of the world’s very biggest yachts is completely dominated by Russians and Arabs. The first white person on that list is at #12.

• Category: Economics • Tags: Elites, Millionaires, Russia 
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It appears that the elites who have lobbied for cheap labor and lectured us on the benefits of vibrant diversity aren’t so keen on sticking around to enjoy the multicultural paradises they helped create.

At least, these are the obvious conclusions to be drawn from a recently released report by New World Wealth on millionaire migration in 2015.


The country with the single largest outflow of millionaires is France, losing 3% of them last year alone. According to the report, these figures were “heavily impacted by rising religious tensions between Christians and Muslims, especially in urban areas.” I suppose that is one way of putting it. These trends are predicted to accelerate in the next decade “as these tensions escalate,” and similar “religious tensions” are also expected to “negatively affect” countries such as Belgium, Germany, Sweden, and the UK “in the near future.” Where is Monsieur MoneyBags taking off to? “Tel Aviv had large inflows from Europe, especially France. Other Israeli cities such as Herzliya, Jerusalem and Netanya also experienced inflows.” Well, no wonder many French nationalists and anti-Zionists are so suspiciously Islamophilic.

London experienced a net inflow of 500 millionaires in 2015, a decrease over previous years because of the rising number of British-born millionaires leaving for other parts of England – “mainly to small towns in the London commuter belt along the Thames” – and to other parts of the Anglosphere such as Australia, Canada, New Zealand, and the US. One would note that these countries tend to have lower tax rates, nicer climates, and if not a lack of diversity, then at least cognitively elitist immigration policies designed to only let the cleverer (or at least wealthier) sorts inside. In contrast, as noted in the New World Wealth report, millionaire arrivistes to London were almost entirely foreigners. It further predicts that “this may be a trend that continues in future as several wealthy UK born people that we spoke to said they were concerned about the way London and the UK in general had changed over the past decade or so.” We ever so wonder what they mean by that. “Australia seems to be their preferred destination.” Presumably, they would rather their children live in Singapore Down Under instead of AfroEurabia.

What’s particularly striking about all this is that France and Italy have more millionaire expats, even in percentage terms, than does Russia – a country whose apatride elites are infamous for buying up properties in London and Florida and sending their children off to British boarding schools. This is frequently cited in the Western media (and the Russian media too) as evidence of well-heeled Russians “voting with their feet” against the legal nihilism and and ideological bankruptcy under Putin, but if so what does it then say about those far richer Western countries where the numbers of fleeing millionaires are surging well past those of Putin’s “mafia state”?

This applies all the more so for China. Although there have likewise been numerous media reports of how rich Chinese are “fleeing” their country en masse – as with Russia, inevitably either to safeguard their hard-earned wealth from the rapacity of government bureaucrats or to stash away the misbegotten proceeds of corruption – the actual numbers for them (relative to the size of their millionaire pool) are actually very modest. It appears that relatively more Chinese millionaires are prepared to wait a few more years for China to resolve its air pollution problems than French millionaires are to wait a few more years for the French Socialists to make another go at introducing an 80% top bracket income tax rate to pay for the rising welfare and prison costs of all those incoming doctors and engineers.

If you are to treat the numbers of Chinese and Russian millionaires leaving as “pedal votes” against the corruption and political malfeasance of their countries, then logic and consistency likewise dictates that you apply the same judgmental approach to the even larger European millionaires fleeing the diversity their governments have been imposing on them. Ironically, of course, just as the elites in Russia or China are at least as much the enablers of the corruption and governance problems that afflict them as they are its victims, so the elite class in Europe has been instrumental in supporting policies that are now pushing them out of their own countries (not that we should be too sorry about their plight: Unlike them, the middle and working classes do not have the means to leave at all. But their money and human capital will be missed).

But for some reason, I don’t see the Western media using this as to bludgeon France or Sweden like they do with Russia or China. After all, the latter two are America’s geopolitical rivals, while the former are loyal servants of the globalist nation wreckers who rule the West.

• Category: Race/Ethnicity • Tags: Immigration, Millionaires 
Anatoly Karlin
About Anatoly Karlin

I am a blogger, thinker, and businessman in the SF Bay Area. I’m originally from Russia, spent many years in Britain, and studied at U.C. Berkeley.

One of my tenets is that ideologies tend to suck. As such, I hesitate about attaching labels to myself. That said, if it’s really necessary, I suppose “liberal-conservative neoreactionary” would be close enough.

Though I consider myself part of the Orthodox Church, my philosophy and spiritual views are more influenced by digital physics, Gnosticism, and Russian cosmism than anything specifically Judeo-Christian.