Millionaires are leaving Russia in droves after the country invaded Ukraine and the West imposed sanctions.
Almost three times as many Russian millionaires are expected to leave the country this year than in 2019, the year before the pandemic, according to a report by Henley & Partners, a company that helps wealthy clients move abroad.
Andrew Amoils, head of research at analytics company New World Wealth, which contributed data to the report, said that Russia was "hemorrhaging millionaires." "It can also be a sign of bad things to come as HNWIs are often the first people to leave... if one looks at any major country collapse in history, it is normally preceded by a migration of wealthy people away from that country," he added.
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