Now 15,000 Millionaires Are Fleeing the Hell of Putin’s Russia

Daily Beast

Now 15,000 Millionaires Are Fleeing the Hell of Putin’s Russia

Barbie Latza Nadeau – June 17, 2022

REUTERS
REUTERS

Russia is literally bleeding money. One of President Putin’s great achievements was creating a wealthy elite that was loyal to him, but the wealthiest Russians have now had enough of the pariah nation.

New data released Friday from the British Defense Ministry shows a shocking number of Russian millionaires trying to get the hell out of the the country this year.

“Migration applications suggest that 15,000 Russian millionaires are likely already attempting to leave,” the ministry said, with most heading to the United Arab Emirates and Australia

The news corresponds with a study earlier this week by the London-based Henley & Partners which facilitates residency applications and citizenship applications and which has apparently seen an uptick in Russian applications to get out of dodge since Putin’s invasion of Ukraine Feb. 24 of this year.

Putin’s Advocate for Child Welfare Is Straight-Up Stealing Kids in Ukraine, U.K. Says

The group’s Private Wealth Migration Dashboard keeps tabs on some 150,000 super rich and monitors movement into and out of 62 countries, including Russia and the UAE. Some of the movement of wealthy people was expected after a halt during the height of the pandemic, but the group says geopolitics play a greater role than ever.

The exodus of 15,000 of the richest Russians is part of a huge movement of people unwilling to live under Putin’s increasingly unhinged autocracy. It is unclear if those fleeing will be able to take their assets with them or if Putin has complicated the process.

The Russian economy is in danger of collapsing as sanctions bite and there is no end in sight of restrictions from abroad. The European Union is threatening to end oil and gas imports and growing numbers of individuals, businesses and banks are cut off from international markets.

Dissent has been crushed and Russia’s middle classes and wealthy businessmen feel unable to discuss openly their concerns about Putin’s war in Ukraine.

For many or them, the only answer is to start a new life overseas.

‘Russia is failing’ in Ukraine and has already ‘strategically lost’ the war

Fortune

‘Russia is failing’ in Ukraine and has already ‘strategically lost’ the war, says the head of Britain’s armed forces

Chloe Taylor – June 17, 2022

Russia has already “strategically lost” the war in Ukraine and is a “more diminished power” on the world stage as a result of the invasion, according to the U.K.’s defense chief.

Admiral Sir Tony Radakin, who heads up the British armed forces, told PA Media in an interview published Friday that the Russian president had used 25% of his country’s army but achieved only “tiny” gains.

“This is a dreadful mistake by Russia,” he said. “Russia will never take control of Ukraine. Russia has strategically lost already.”

Radakin explained that Moscow had been forced to abandon its objectives of seizing control of most Ukrainian cities, noting that Russian forces were vulnerable because they were running out of people and military hardware.

“Any notion that this is a success for Russia is nonsense. Russia is failing,” he told PA.

“It might be getting some tactical successes over the last few weeks, and those might continue for the next few weeks—but Russia is losing strategically.”

Spokespersons for the Ukrainian and Russian governments were not immediately available for comment when contacted by Fortune.

‘A disaster for Putin’

Chris Tuck, a reader in strategic studies at King’s College London, told Fortune that although Russian forces were having some tactical successes in limited areas, such as the eastern city of Severodonetsk, strategically the invasion of Ukraine has been “a disaster for Putin and Russia.”

Radakin’s comments, he said, were intended to separate Moscow’s limited successes from the bigger picture of what had been happening in Ukraine.

“Russia has categorically failed to achieve any of the objectives it set out to achieve in the initial stage of the invasion,” Tuck said in a phone call on Friday. “It obviously intended to try and regain control of Ukraine, and of course that hasn’t happened—if anything it’s pushed Ukraine further away.”

He noted that many of Moscow’s other objectives—like the weakening of NATO and the demonstration of Russia’s military power—had also been counterproductive.

One of Russia’s key demands as it amassed thousands of troops at the border it shares with Ukraine before invading its neighbor was that Ukraine should never be permitted to join NATO, the world’s most powerful military alliance.

NATO and the U.S. both said that such a request could not be accommodated, and since the invasion of Ukraine in late February, the alliance has stepped up its presence in eastern Europe while both Sweden and Finland have taken steps to join the organization.

Jonathan Eyal, associate director of strategic research partnerships at defense think tank the Royal United Services Institute, told Fortune on Friday that ultimately, Putin’s strategic objective in Ukraine was to re-create the old Soviet Empire by reimposing control over Ukraine.

“Russia has lost strategically if we assume, as looks likely, that the objective of Putin was to take over Ukraine and transform it into a satellite state under Russian influence,” he said. “So in that respect, Russia has failed strategically. It is now blatantly obvious that Ukraine may not regain full control of all its territory, but it will remain an independent state, and more importantly it will remain a state that will challenge Russian influence in the region.”

However, Eyal added that while it was true that the strategic objective of Russia had failed for the moment, this was merely a snapshot of the situation.

“The final judgment on this sad objective of Putin is yet to be delivered,” he told Fortune.

“The more important question still remains around what lesson Russian leaders draw out of the conflict. The debate is not really on whether Putin has failed strategically, but on whether it would be obvious to Russian decision-makers in the future that this was a disaster.”

Eyal also warned that if Putin succeeds in “grabbing a chunk of Ukraine” and the West remains divided on the country’s future, Russia could still achieve some of its long-term strategic objectives.

“Clearly Putin’s failed, but he may be able to snatch victory out of defeat if we [in the West] do not come to a very decisive conclusion what is going to happen to Ukraine after the fighting is over,” he said. “If Ukraine remains suspended in the air and nobody knows what to do with it, then Russia’s still got a chance to come back at it.”

Ukrainian Farmers Poison Russian Troops With Spiked Cherries as Guerrilla War Terrifies Invaders

Daily Beast

Ukrainian Farmers Poison Russian Troops With Spiked Cherries as Guerrilla War Terrifies Invaders

Allison Quinn – June 16, 2022

Russian authorities have gone all out to tighten their grip on cities taken over by Putin’s troops in eastern Ukraine, but ordinary citizens are fighting back—with arson attacks and poisoned fruit.

The latest surprise for Russian troops came in Melitopol, where Mayor Ivan Fyodorov said local farmers had caused “mass illness” among Russians by poisoning cherries.

“Our farmers prepared another gift for the [Russians]—recently treated sweet cherries, which caused mass illness among those who stole them from the farmers. It’s the latest kind of partisan resistance on the territory of Melitopol,” Fyodorov told local reporters on Thursday.

He said pro-Ukrainian sentiment remains strong in the city, despite Russian authorities portraying themselves as saviors who “rescued” residents from Ukraine.

“Melitopol residents fully ignored the celebration of Russia Day. The whole country saw—last Sunday only 15 people out of 70,000 residents who stayed in the temporarily occupied city stood in line for [Russian] passports,” he said.

Even Russian troops in the Kherson region appear to be keenly aware of the Ukrainian resistance, according to audio released Thursday by Ukraine’s Security Service.

In a nearly two-minute recording of what Ukrainian intelligence describes as an intercepted call between Putin’s troops, a man identified as a soldier tells his friends the guys on the front line there are “going crazy.”

“Where they are located… no one is sure about the locals: who they are, what they’re doing. Maybe they are fucking with us at night, while they’re peaceful people during the day. No one can be trusted. An old woman walking around with pies might be a fucking colonel acting as an artillery spotter at night.”

Russian authorities have begun opening up passport processing centers in the occupied territories, and in Kherson, residents were informed this week that any babies born after Feb. 24 would automatically be given Russian passports, Russia’s RIA-Novosti news agency reported.

But Ukrainian residents are not letting them get off easy for the forced “Russification.” A new report by the Institute for the Study of War this week listed a series of recent guerrilla-style attacks by Ukrainian partisans in cities including Berdyansk and Mariupol.

“Russian authorities are continuing to face difficulties implementing their occupation agendas due to pro-Ukrainian pressure in occupied areas,” the report noted, describing teachers “refusing to teach under Russian curricula” in Berdyansk and “unidentified Ukrainian partisans” targeting staffers of Russia’s Emergency Ministry in Mariupol.

Petro Andriushchenko, an aide to the Mariupol mayor, described the latter incident in a post on Telegram on Wednesday.

He said two tractors and three large truck trailers parked outside the Russian Emergency Ministry’s headquarters “suddenly” went up in flames on July 9 due to an arson attack.

Two days later, he said, on the eve of the city’s “Day of Russia” celebrations, a staffer for the same ministry was stabbed in the back while standing in a crowd.

“The injury turned out to be fatal,” he said. “We’re talking to you, scum. Start looking behind you. Retribution is already near.”

Russians fire missile at train with humanitarian aid for residents of Donetsk Oblast

The New Voice of Ukraine

Russians fire missile at train with humanitarian aid for residents of Donetsk Oblast

June 16, 2022

Andryushchenko did not specify in which area and when exactly the train was destroyed.
Andryushchenko did not specify in which area and when exactly the train was destroyed.

Read also: Russian occupiers in Mariupol only distribute anti-cholera drugs to their own troops, ignoring Ukrainians

“At first, the Russians destroyed Mariupol and its residents,” he said.

“Now, a Russian missile hit a car with the World Central Kitchen humanitarian aid, which was supposed to feed Donetsk Oblast and will now affect Mariupol residents in the YaMariupol centers.”

Read also: Almost 4,000 men from Mariupol held in ‘filtration camps’ in occupied Donbas, says human rights ombudsperson

At the same time, Andriushchenko did not specify in which area and when exactly the train had been destroyed.

Read also: Russian-occupied Mariupol faces resistance movement, says mayoral advisor

Mariupol was under siege by the Russian invaders for almost three months. Russia’s actions led to a large-scale humanitarian catastrophe, as the invaders bombed residential areas and civilian infrastructure, as well as continually blocking humanitarian aid.

At least 25,000 civilians have been killed by the Russians, Ukrainian authorities estimate.

Mariupol Mayor Vadym Boichenko said that the city might face an infectious diseases disaster due to water shortages.

In Severodonetsk, Ukrainian military controls a third of the city, and industrial zone

The New Voice of Ukraine

In Severodonetsk, Ukrainian military controls a third of the city, and industrial zone

June 15, 2022

A third of Severodonetsk with the industrial zone remain under control of the Ukrainian military
A third of Severodonetsk with the industrial zone remain under control of the Ukrainian military

Stryuk said that there had been no major changes to the situation. The military continue to hold their positions. Last night, there was heavy shelling, with the Russians using Grad multiple launch rocket systems and heavy artillery to attack Ukrainian positions.

Read also: Ukrainian army successfully repels enemy attempts to storm Severodonetsk

“Our troops took position and are holding the line of defense,” Stryuk said.

“The situation is difficult, but stable and controllable. Two-thirds of residential areas are controlled by Russian troops. As for our troops, we control about a third of the city, together with the industrial zone and nearby territories.”

Read also: Ukrainian National Guard obliterates Russian MLRS near Severodonetsk

Asked whether it’s now possible to send reinforcements to the defending Ukrainian units, he said: “There is a way, but it is rather complicated.”

“Indeed, the bridges are destroyed, it’s doubtful we can use them. Almost every bridge is missing a span. There are certain difficulties, but the city is not cut off. There are several ways to deliver the necessities.”

US military veterans training Ukrainian frontline troops say NATO’s artillery and rocket launchers are essential for Ukraine to beat Russia

Business Insider

US military veterans training Ukrainian frontline troops say NATO’s artillery and rocket launchers are essential for Ukraine to beat Russia

Cheryl Teh – June 15, 2022

Ukrainian soldiers man a howitzer during artillery drills in northeastern Ukraine’s Kharkiv Region.Vyacheslav Madiyevskyy/ Ukrinform/Future Publishing via Getty Images
US military veterans training Ukrainian frontline troops say NATO’s artillery and rocket launchers are essential for Ukraine to beat Russia
  • US military veterans training Ukrainian soldiers said Ukraine needs NATO weapons to beat Russia.
  • They said Ukrainian forces might be overwhelmed without more modern, long-range weaponry.
  • “It’s a bit of a slugfest,” Martin Wetterauer, a Marine veteran, said of the war.

A group of US military veterans currently training Ukrainian soldiers said Ukraine needs more NATO weapons to win its war with Russia.

Officers in the Mozart Group told Newsweek that modern, long-range artillery would help Ukrainian forces fend off the Russian offensive.

The Mozart Group is a cadre of US military veterans helping train Ukrainian soldiersEstablished at the start of the Ukraine war by Andrew Milburn, a Marine veteran, the group has been described as the Western counterpoint to Putin’s elite Wagner Group.

“It’s a bit of a slugfest,” Martin Wetterauer, a Marine veteran and the Mozart Group’s chief operations officer, told Newsweek from the organization’s outpost in Zaporizhzhia.

Wetterauer told the outlet that the Ukrainians were under heavy fire from Russian artillery and said that NATO’s artillery systems and aircraft would be essential to help eliminate Russian defense lines in the Donbas region.

Steve K., an operations manager in the group who declined to give Newsweek his full name, agreed with Wetterauer and highlighted the US-made Multiple Launch Rocket System and the High Mobility Artillery Rocket System as being vital tools for the Ukrainian war effort.

“They need the artillery, they need rounds,” Steve K. told the outlet. “If we do not continue with that supply, they won’t be able to hold them back.”

Per Newsweek, Wetterauer added that the Ukrainians do not underestimate the Russians’ capabilities and expressed confidence in their chances of winning if they received the right equipment.

“If we can increase their skill set, then ultimately over time hopefully they’ll get better and more advanced weapon systems,” Wetterauer said, per the outlet. “With the fighting spirit that they have, there’s no doubt they will turn this war. It’s just going to take a while.”

Ukraine’s forces are currently engaged in a critical fight in the Donbas region, which has come under heavy artillery fire from Russian troops. In June, Ukraine estimated that Russia has 10 to 15 times more artillery than its forces, appealing to the West to send more weapons.

This week, reports emerged that cases of desertion are growing among Ukrainian forces after they suffered significant losses. A senior US official also told The Washington Post this week that Russia will likely gain control of eastern Ukraine within weeks, after doubling down on its military efforts in the Donbas.

However, intelligence from the UK suggests that Russia may soon struggle to produce enough military equipment to fuel a prolonged conflict in Ukraine.

Ukrainian aircraft destroy Russian company-tactical group

Ukrayinska Pravda

Ukrainian aircraft destroy Russian company-tactical group

Valentyna Romanenko – June 15, 2022

Over the course of the past 24 hours, Ukrainian assault and bomber jets have destroyed a Russian company-tactical group, and have inflicted losses on Russian military equipment and personnel.

Source: Air Force Command of the Armed Forces of Ukraine on Facebook

Details: On Tuesday, 14 June, Ukrainian Su-25 and Su-24 planes conducted several airstrikes on Russian positions, destroying a Russian company-tactical group and inflicting losses on the occupiers’ military equipment and personnel.

Also on 14 June, anti-aircraft missile units of the Air Force of the Armed Forces of Ukraine destroyed four cruise missiles that Russian forces had launched on Ukraine from the waters of the Black Sea.

Ukrainian anti-aircraft missile units also struck down two Russian unmanned aerial vehicles.

Ukrainian fighter jets are continuing to patrol Ukrainian airspace and are conducting operations to intercept Russian air targets, and to provide cover to the operations of assault and bomber aircraft of the Ukrainian Air Force.

Putin still wants a ‘significant portion’ of Ukraine or even the whole country, but Russia won’t be able to do it

Business Insider

Putin still wants a ‘significant portion’ of Ukraine or even the whole country, but Russia won’t be able to do it: Pentagon official

Natalie Musumeci and John Haltiwanger – June 15, 2022

Russian President Vladimir Putin
Russian President Vladimir Putin at the Vostochny Cosmodrome in Amur Region, Russia, on April 12, 2022.Sputnik/Evgeny Biyatov/Kremlin via Reuters
  • Vladimir Putin likely still wants to take much or all of Ukraine, but won’t be able to, a US official said.
  • “I do not think he can achieve those objectives,” said Under Secretary of Defense for Policy Colin Kahl.
  • The “Ukrainians are holding tough” against Russia’s unprovoked invasion of the country, said Kahl.

Russian President Vladimir Putin likely still wants to control a “significant portion” of Ukraine or even capture the entire eastern European country — but he likely won’t succeed in that mission, according to a top Pentagon official.

“I still think he has designs on a significant portion of Ukraine, if not the whole country,” US Under Secretary of Defense for Policy Colin Kahl said on Tuesday, Reuters reported.

Kahl, while speaking at the Center for a New American Security’s National Security Conference, added, “That said, I do not think he can achieve those objectives,” according to the news outlet.

The US official said that Russian forces “may make tactical gains here and there” in the Kremlin’s months-long unprovoked war against Ukraine, but that the “Ukrainians are holding tough.”

“I do not think the Russians have the capacity to achieve those grandiose objectives,” Kahl explained.

Putin “went into this war seeking to gobble Ukraine up,” but failed to capture Ukraine’s capital city of Kyiv early on, Kahl noted.

“I think he envisioned some kind of a thunder run to Kyiv that would change the regime,” said Kahl, adding, “The Russians were badly defeated in the battle of Kyiv. They’ve also been pushed out of Kharkiv.”

Kahl said that the Russians have been making incremental gains in the south and east of Ukraine, but that the Ukrainians have remained “stalwart defenders.”

The UK’s Ministry of Defense said Wednesday that “it is highly unlikely that Russia anticipated such robust opposition or such slow, attritional conflict during its original planning for the invasion.”

Steven Pifer, who was US ambassador to Ukraine from 1998 to 2000, told Insider that Putin has made it clear that “he sees his mission as the recovery of Russian lands,” alluding to the Russian leader’s recent comparison of himself to Peter the Great. If Russia is able to conquer Ukraine’s eastern Donbas region, where the heaviest fighting is occurring at present and Russian forces are gradually making gains, “he might return to that objective” and “try to go for Kyiv and such.”

“Whether everybody in Moscow shares that ambition is a very different question. But then you also have to ask — does the Russian military have the wherewithal to make that kind of offensive operation?” Pifer said, adding, “There are a lot of Russian soldiers who are not particularly thrilled that they’re fighting in Ukraine. The Ukrainians are getting battered and may have some morale issues. But I think most Ukrainians still think that this is an existential fight and that if they lose their democracy is gone and their vision of what Ukraine would be as an independent state.”

Russia’s invasion of Ukraine entered its 112th day on Wednesday — and since the war began on February 24, thousands have been killed on both sides.

Since the early days of the war, Ukrainian President Volodymyr Zelenskyy and the West have accused Putin’s forces of committing heinous war crimes in Ukraine.

US military veterans training Ukrainian frontline troops say NATO’s artillery and rocket launchers are essential for Ukraine to beat Russia

Business Insider

US military veterans training Ukrainian frontline troops say NATO’s artillery and rocket launchers are essential for Ukraine to beat Russia

Cheryl Teh – June 15, 2022

Ukrainian soldiers man a howitzer during artillery drills in northeastern Ukraine’s Kharkiv Region.Vyacheslav Madiyevskyy/ Ukrinform/Future Publishing via Getty Images
US military veterans training Ukrainian frontline troops say NATO’s artillery and rocket launchers are essential for Ukraine to beat Russia

US military veterans training Ukrainian soldiers said Ukraine needs NATO weapons to beat Russia.

They said Ukrainian forces might be overwhelmed without more modern, long-range weaponry.

“It’s a bit of a slugfest,” Martin Wetterauer, a Marine veteran, said of the war.

A group of US military veterans currently training Ukrainian soldiers said Ukraine needs more NATO weapons to win its war with Russia.

Officers in the Mozart Group told Newsweek that modern, long-range artillery would help Ukrainian forces fend off the Russian offensive.

The Mozart Group is a cadre of US military veterans helping train Ukrainian soldiersEstablished at the start of the Ukraine war by Andrew Milburn, a Marine veteran, the group has been described as the Western counterpoint to Putin’s elite Wagner Group.

“It’s a bit of a slugfest,” Martin Wetterauer, a Marine veteran and the Mozart Group’s chief operations officer, told Newsweek from the organization’s outpost in Zaporizhzhia.

Wetterauer told the outlet that the Ukrainians were under heavy fire from Russian artillery and said that NATO’s artillery systems and aircraft would be essential to help eliminate Russian defense lines in the Donbas region.

Steve K., an operations manager in the group who declined to give Newsweek his full name, agreed with Wetterauer and highlighted the US-made Multiple Launch Rocket System and the High Mobility Artillery Rocket System as being vital tools for the Ukrainian war effort.

“They need the artillery, they need rounds,” Steve K. told the outlet. “If we do not continue with that supply, they won’t be able to hold them back.”

Per Newsweek, Wetterauer added that the Ukrainians do not underestimate the Russians’ capabilities and expressed confidence in their chances of winning if they received the right equipment.

“If we can increase their skill set, then ultimately over time hopefully they’ll get better and more advanced weapon systems,” Wetterauer said, per the outlet. “With the fighting spirit that they have, there’s no doubt they will turn this war. It’s just going to take a while.”

Ukraine’s forces are currently engaged in a critical fight in the Donbas region, which has come under heavy artillery fire from Russian troops. In June, Ukraine estimated that Russia has 10 to 15 times more artillery than its forces, appealing to the West to send more weapons.

This week, reports emerged that cases of desertion are growing among Ukrainian forces after they suffered significant losses. A senior US official also told The Washington Post this week that Russia will likely gain control of eastern Ukraine within weeks, after doubling down on its military efforts in the Donbas.

However, intelligence from the UK suggests that Russia may soon struggle to produce enough military equipment to fuel a prolonged conflict in Ukraine.

More than 15,000 millionaires expected to leave Russia in 2022

The Guardian

More than 15,000 millionaires expected to leave Russia in 2022

Rupert Neate, Wealth correspondent – June 13, 2022

<span>Photograph: Karim Sahib/AFP/Getty Images</span>
Photograph: Karim Sahib/AFP/Getty Images

More than 15,000 millionaires are expected to flee Russia this year, as wealthy citizens turn their back on Vladmir Putin’s regime after the invasion of Ukraine, according to an analysis of migration data.

About 15% of Russians with more than $1m (£820,000) in ready assets are expected to have emigrated to other countries by the end of 2022, according to projects based on migration data by Henley & Partners, a London-based firm that acts as matchmaker between the super-rich and countries selling their citizenships.

“Russia [is] haemorrhaging millionaires,” said Andrew Amoils, the head of research at New World Wealth, which compiled the data for Henley. “Affluent individuals have been emigrating from Russia in steadily rising numbers every year over the past decade, an early warning sign of the current problems the country is facing. Historically, major country collapses have usually been preceded by an acceleration in emigration of wealthy people, who are often the first to leave as they have the means to do so.”

Ukraine is projected to suffer the greatest loss of high net worth individuals (HNWIs) as a proportion of its population, with 2,800 millionaires (or 42% of all HNWIs in Ukraine) expected to have left the country by the end of the year.

The world’s wealthy have traditionally relocated to the US and the UK but Henley said the United Arab Emirates is expected to overtake them as the No 1 destination for millionaire emigrants. “UK has lost its wealth hub crown, and the US is fading fast as a magnet for the world’s wealthy, with the UAE expected to overtake it by attracting the largest net inflows of millionaires globally in 2022,” Henley said in its report, which is based on “systematically tracking international private wealth migration trends”.

About 4,000 HNWIs are expected to have moved to the UAE by the end of the year, ahead of Australia, which is expected to attract about 3,500, Singapore (2,800) and Israel (2,500).

Large numbers of millionaires are also expected to move to “the three Ms”: Malta, Mauritius and Monaco.

“Malta has been one of Europe’s great success stories of the past decade, not just in terms of millionaire migration but also in terms of overall wealth growth,” Amoils said. “It is currently one of the world’s fastest-growing markets, with US dollar wealth growth of 87% between 2011 and 2021. Its citizenship by naturalisation process has brought substantial new wealth to the island nation and has been credited with propelling Malta’s strong growth in multiple sectors including financial services, IT and real estate. Approximately 300 millionaires are expected to move to Malta in 2022.”

The Guardian reported last year that many wealthy people buying “golden passports” to Malta (and thereby the EU) often planned to spend little time in the country. At the time, Henley said it was “proud of the service that it has provided to Malta and its people”.

The Indian Ocean island nation Mauritius is described by Henley as a “wealth magnet” because of the creation of an international financial centre offering significant tax breaks. The country has no capital gains tax, no inheritance tax, and maximum tax rate of 3% of global companies.

According to the Africa Wealth Report 2022, Mauritius is now home to 4,800 HNWIs compared with 2,700 a decade ago. Approximately 150 millionaires are expected to move to Mauritius in 2022, mainly from South Africa and Europe.

Monaco has long attracted the world’s super-rich because it does not charge income tax, capital gains tax or property tax. Just under seven in 10 people living in Monaco are dollar millionaires.

The UK’s HNWI population is expected to decline by 1,500, taking the number of people with more than $1m in ready assets to 738,000. There are currently just over 15 million HNWIs in the world.