Since the Covid-19 pandemic began, billionaires have been moving to different countries, such as Switzerland, the UAE, Singapore, and the US.

A report from UBS Group AG states that around one in every 15 of the world's billionaires has relocated since 2020, leading to a significant increase in capital, particularly in the Middle East and Africa.

The report also mentions that as billionaires get older and their families grow, they are placing more importance on their quality of life. Concerns about healthcare, education, and safety are driving these relocations, and there has been a 56% increase in the number of billionaires' children over the past decade.

The pandemic has further amplified the desire for jurisdictions that have strong legal frameworks for wealth transfer, which is influencing these migration trends.