More and more billionaires in the US are looking for a “plan B”. The things that motivate them and the places that benefit from this “clear trend”
Peter Thiel's move to Argentina, where the co-founder of Paypal and Palantir Technologies enrolled his children in school and bought a home in one of the most affluent neighborhoods of Buenos Aires, reflects a larger pattern of billionaires who see life in America as an investment portfolio — still worth betting on, but increasingly in need of a plan B, Business Insider wrote.
Charlie Garcia, founder of the R360 centi-million member club, said “there is a clear trend towards sovereign diversification”, including holding “multiple passports, multiple tax regimes and at least one 'Plan B' jurisdiction in the southern hemisphere”.
There are many places on the planet competing to become the new “epicenter” of billionaires. Last year, after relaxing the rules for the so-called “golden” visa, officially called the “Active Investor Plus” residency visa, New Zealand saw a sharp increase in the number of American applications. Costa Rica and Thailand also saw increases in high-income migrants.
A record number of wealthy people have migrated to other countries
Some wealthy people buy second homes, while others move abroad entirely. In 2025, a record 142,000 high-net-worth individuals, defined as people with liquid assets of more than $1 million, migrated to other countries, according to private wealth research firm Henley & Partners. The number is expected to exceed 165,000 this year.
For the most affluent families, the most important factor is having options.
Charlie Garcia said the tax regime is a major incentive. In California, where many of America's wealthiest people have built their companies, lawmakers are considering putting to a vote a possible one-time 5 percent tax on the net worth of billionaires who live in the state. New York City just passed a tax on luxury second homes.
There are also concerns about the political situation and global existential threats, from issues related to how artificial intelligence evolves to possible nuclear escalation.
Even so, says Charlie Garcia, Argentina is an unusual choice, given that the country has a long history of inflation, currency crises, capital controls and sudden legislative changes — exactly the kind of instability that wealthy families typically hate. On the other hand, for the billionaire class, this Latin American state does not have to become the next Miami, but can be just another door they keep open.
PHOTO: Stefan Gottschild | Dreamstime.com
