When Wealth Moves: Capital Is Becoming Borderless by Design

Northern Trust argues the global migration of wealth is accelerating, driven by a mix of geopolitical risk, diversification needs, and expanding cross-border financial opportunities. 

• A record 165,000 high-net-worth families are expected to relocate internationally in 2026, the largest wave on record.
• Drivers include mobility, asset protection, and global investing, as families diversify across jurisdictions.
• The U.S. remains a major destination, attracting 7,500 net millionaire inflows in 2025.
• Cross-border planning now requires integrated strategies across tax, estate, residency, and asset allocation.

Capital is no longer anchored to geography. The question is no longer where wealth is created—but where it chooses to reside.