The Five-Million $ Invite: Why Trump’s Golden Ticket Isn’t Shining Bright Enough

 Imagine a world where citizenship is a luxury good, like a diamond-encrusted watch or a yacht docked in the Mediterranean. Now picture Donald Trump, ever the salesman, waving a shiny “US Citizenship Card” worth millions of slots—five million, to be exact—hoping to lure the globe’s wealthiest into America’s embrace. It’s a bold pitch, a classic Trump move: big numbers, bigger promises. But here’s the catch—nobody’s biting. The ultra-rich aren’t flocking to the Stars and Stripes, nor are they swooning for a British passport. Instead, they’re sipping champagne in Dubai, lounging in Monaco, or stashing cash in Switzerland, leaving Trump’s grand offer gathering dust. Why? Because in 2025, the game of citizenship has flipped, and the US and UK are no longer the coveted prizes they once were.

Let’s unpack this. The world’s millionaires and billionaires—those elusive jet-setters with private islands and tax advisors on speed dial—aren’t exactly lining up for a chance to call America or Britain home. Far from it. Recent data paints a stark picture: the UK is projected to lose a staggering 9,500 millionaires in 2024 alone, according to Henley & Partners’ Private Wealth Migration Report. That’s more than Russia lost in 2022 amid its invasion of Ukraine. Meanwhile, the US isn’t faring much better—UBS’s 2024 Global Wealth Report predicts a 17% drop in dollar millionaires by 2028, shrinking the tally to 2.5 million. These aren’t just numbers; they’re a neon sign flashing “Exit” for the wealthy. So, what’s driving this exodus, and why isn’t Trump’s citizenship carrot tempting them back?

The Fear Factor: Property Grabs and Political Persecution

For the globe’s elite, the US and UK aren’t beacons of opportunity—they’re potential booby traps. Take the Russia-Ukraine war, a geopolitical mess that’s left a trail of confiscated yachts and frozen bank accounts. Since 2022, Western nations, led by the US and UK, have seized billions in assets from Russian oligarchs—think $1 billion in luxury boats and £18 billion in UK-based holdings, per government estimates. Just two days ago, on April 2, 2025, the US Treasury added another batch of Russian billionaires to its sanctions list, tightening the screws further. The message? If you’re rich and on the wrong side of politics, your wealth isn’t safe in Uncle Sam’s backyard—or across the pond.

This isn’t paranoia; it’s precedent. The UK’s non-dom tax regime, a quirky relic from the Edwardian era that let the super-rich dodge taxes on foreign earnings, is on its deathbed. Labour’s new government, under Keir Starmer, is phasing it out, replacing it with a system that’s less “tax haven” and more “tax hammer.” Add proposed wealth levies—like a 2% tax on fortunes over £10 million, which could rake in £24 billion annually, according to Patriotic Millionaires UK—and you’ve got a recipe for rich folks packing their bags. Norway’s seen it too: after hiking its wealth tax to 1.1% in 2022, over 30 billionaires fled to Switzerland, per Swissinfo. Confiscation fears and punitive taxes are turning the West into a no-go zone for the elite.

Dubai’s Glittering Escape Hatch

Contrast that with Dubai, where the sun shines, the taxes don’t exist, and political persecution is a distant nightmare. The UAE welcomed 4,500 millionaires in 2023, per Henley & Partners, with projections for 2024 climbing higher. Why? Zero income tax, golden visas that practically roll out the red carpet, and a government that doesn’t care about your political baggage as long as your wallet’s fat. Russian oligarchs, Chinese tycoons, and Indian magnates are flocking there, parking their superyachts and sipping lattes in air-conditioned malls. Roman Abramovich’s jet was grounded in Dubai for months post-sanctions, yet he’s still calling it home. For the wealthy, it’s not just a tax dodge—it’s a fortress of stability in a chaotic world.

“I’ve returned to Dubai after spending several months in France due to an investigation related to the activity of criminals on Telegram. The process is ongoing, but it feels great to be home.” - Pavel Durov, the founder and CEO of Telegram

Dubai’s appeal isn’t anecdotal. The UAE’s millionaire inflow outpaces traditional havens like Switzerland (1,500 net arrivals in 2023) and Singapore (2,800). It’s a magnet because it’s outside the Western political sphere—no sanctions, no asset freezes, just a plush lifestyle and a promise of safety. Trump’s five-million-citizenship gambit? It’s a tough sell when Dubai’s offering the same perks without the risk of a US Treasury agent knocking on your door.

Europe’s Rich Snub: Why Bother with America?

Now, let’s pivot to Europe. Trump might think his citizenship deal could woo the continent’s billionaires—after all, who wouldn’t want a slice of the American Dream? But Europe’s wealthy have their own playgrounds: Switzerland, Monaco, and San Marino. These microstates aren’t just tax havens; they’re lifestyle sanctuaries. Switzerland, with its 1% GDP haul from wealth taxes (the only country pulling that off, per the Tax Foundation), still draws 5% of the world’s billionaires—roughly 135 of the 2,700 tracked by World Population Review. Monaco, with zero income tax and a postcard-perfect coast, hosts a billionaire density 100 times the global average. San Marino? It’s tiny, but its low-tax, low-drama vibe is a quiet draw.

European billionaires aren’t itching to trade their Alpine chalets or Riviera villas for a US visa. Why would they? The EU’s golden visa programs—like Portugal’s D7 visa (citizenship in five years for €760 monthly passive income) or Greece’s €250,000 property buy-in—offer mobility without the baggage of US or UK politics. Trump’s overlooking a key truth: Europe’s rich don’t need America when they’ve got their own gilded cages.

The Irony of the Sales Pitch

Here’s where the irony creeps in. Trump, the ultimate dealmaker, is peddling a product nobody wants—at least not the crowd he’s targeting. The US and UK spent decades as the gold standard for wealth and power, but 2025’s reality is a twist worthy of a reality TV plot: the rich are running away, not toward, these nations. America’s exit tax—40% on wealth over $50 million if you renounce citizenship, per Elizabeth Warren’s old Ultra-Millionaire Tax plan—only sweetens the deal to stay out. The UK’s cultural allure (National Gallery, anyone?) might keep some millionaires from fleeing to “boring” tax havens, per an LSE study, but even that’s not enough when taxes bite and properties get nabbed.

So, what’s the fix? If Trump wants to sell citizenship, he might need a new brochure. 

Ditch the “land of the free” spiel and lean into what the wealthy crave: security, tax breaks, and a promise their Picassos won’t end up in a government vault. 

Dubai’s figured it out. Switzerland’s mastered it. The US and UK? They’re still clinging to a playbook from a bygone era, wondering why the billionaires aren’t RSVPing to their party.

The Stats Tell the Tale

Let’s ground this in numbers. The US hosts 735 billionaires (27% of the global total), but its millionaire outflow is accelerating—383 left in 2023 alone, per Immigrant Invest. The UK’s 2.5 million millionaires are dwindling, with 16,500 exiting between 2017 and 2023. Compare that to the UAE’s 68% millionaire growth since 2013, or Monaco’s 12% billionaire-per-capita ratio. Switzerland’s 1.5% wealth tax is a bargain next to the UK’s looming 3.5% top rate. The data screams it: the rich are voting with their private jets, and the West isn’t winning.

Even Moscow has climbed to second place globally for the number of billionaires, trailing only New York. Over the past year, the Russian capital jumped from sixth position in the rankings, with the number of billionaires reaching a total of 74. New York remains the top destination for the world’s richest individuals, hosting 110 billionaires with a combined net worth of $694 billion.

Moscow ties with Hong Kong for second place, each city boasting 74 billionaires. However, Moscow's billionaires collectively hold $378 billion in wealth compared to Hong Kong’s $326 billion. Notably, Hong Kong added four billionaires this year, while Moscow saw an impressive increase of 12.

In the end, Trump’s citizenship card might be a trump card in name only. The world’s wealthiest aren’t buying what he’s selling—not when Dubai’s gleaming towers and Monaco’s tax-free shores beckon. Maybe it’s time for a rebrand. Or better yet, a reality check.