**Henley & Partners backtrack on claim of a “millionaire exodus” after investigation reveales under 0.5% of millionaires are leaving the country, despite the claim’s heavy media coverage**
A non-existent millionaire exodus is being widely reported in the news again today, despite the authors of the claim backtracking on it following recent criticism by tax justice campaigners.
The media coverage is primarily based on a report published by Henley & Partners, a firm that sells golden passports to the superrich and advises governments on setting up such schemes. The European Court of Justice recently ruled one such scheme, that of Malta, to be unlawful.
Over 10,900 news pieces across print, broadcast and online news were published in 2024 covering Henley & Partner’s claims.
The Tax Justice Network’s review of the Henley report – co-published earlier this month with Patriotic Millionaires UK and Tax Justice UK – finds that the number of millionaires claimed by Henley & Partners to be leaving countries in “exodus” in 2024 represented near-0% of those countries’ millionaire populations.
Reviewing the new figures from Henley & Partners today reveals the same conclusions.
The “record-number” of 142,000 millionaires that the Henley report claims are leaving countries in 2025 once again represent just 0.2% of the global millionaire population (60 million).
More in the article (non-paywalled).
Miserable-Advisor945 on
Tax Justice Network gets a ‘A’ for transparency from Open democracys ‘Who funds who’ transparency list, the highest you can get.
And rated ‘Highly Transparent’ on https://www.transparify.org/
Wikipedia say its a ‘British advocacy group[2] consisting of a coalition of researchers and activists with a shared concern about tax avoidance, tax competition, and tax havens.[3]’
A respectable think tank.
Bobo1803 on
It’s just annoying how so many ordinary people seem so desperate to parrot the bullshit in the comment sections, when it so clearly works against their interests
I’m not saying taxing the rich effectively is easy to do, but Christ, why are do so many people think we should give up at the first hurdle?
Orangesteel on
Given they pay relatively low levels of tax, would we miss them?
Electricbell20 on
Is the penny finally dropping with people that the lion share of the media is not on the side of the majority of people.
FewEstablishment2696 on
Not this again. The definitions of “millionaire” are completely different and there is nothing in this article which dispels the figures reported by Henley.
Potential_Cover1206 on
Tax Justice Network has an angle. So, the data is being used to prove a point.
Wait for HMRC to tell us all how much tax they raised and from what sources.
michalzxc on
We should attract billionaires and corporations like Ireland does, so the real test is how many we attracted not how many we scared away
ColdAsKompot on
Because it’s not meant to be true, it’s meant to induce certain emotions in society.
9 commenti
**Henley & Partners backtrack on claim of a “millionaire exodus” after investigation reveales under 0.5% of millionaires are leaving the country, despite the claim’s heavy media coverage**
A non-existent millionaire exodus is being widely reported in the news again today, despite the authors of the claim backtracking on it following recent criticism by tax justice campaigners.
The media coverage is primarily based on a report published by Henley & Partners, a firm that sells golden passports to the superrich and advises governments on setting up such schemes. The European Court of Justice recently ruled one such scheme, that of Malta, to be unlawful.
Over 10,900 news pieces across print, broadcast and online news were published in 2024 covering Henley & Partner’s claims.
The Tax Justice Network’s review of the Henley report – co-published earlier this month with Patriotic Millionaires UK and Tax Justice UK – finds that the number of millionaires claimed by Henley & Partners to be leaving countries in “exodus” in 2024 represented near-0% of those countries’ millionaire populations.
Reviewing the new figures from Henley & Partners today reveals the same conclusions.
The “record-number” of 142,000 millionaires that the Henley report claims are leaving countries in 2025 once again represent just 0.2% of the global millionaire population (60 million).
More in the article (non-paywalled).
Tax Justice Network gets a ‘A’ for transparency from Open democracys ‘Who funds who’ transparency list, the highest you can get.
https://www.opendemocracy.net/en/who-funds-you/
And rated ‘Highly Transparent’ on https://www.transparify.org/
Wikipedia say its a ‘British advocacy group[2] consisting of a coalition of researchers and activists with a shared concern about tax avoidance, tax competition, and tax havens.[3]’
A respectable think tank.
It’s just annoying how so many ordinary people seem so desperate to parrot the bullshit in the comment sections, when it so clearly works against their interests
I’m not saying taxing the rich effectively is easy to do, but Christ, why are do so many people think we should give up at the first hurdle?
Given they pay relatively low levels of tax, would we miss them?
Is the penny finally dropping with people that the lion share of the media is not on the side of the majority of people.
Not this again. The definitions of “millionaire” are completely different and there is nothing in this article which dispels the figures reported by Henley.
Tax Justice Network has an angle. So, the data is being used to prove a point.
Wait for HMRC to tell us all how much tax they raised and from what sources.
We should attract billionaires and corporations like Ireland does, so the real test is how many we attracted not how many we scared away
Because it’s not meant to be true, it’s meant to induce certain emotions in society.