As London sees a fall in the number of millionaires in the city, advice insiders have said that the significant flight of wealth means that advisers will see more wealthy clients move abroad in the future, with Labour's non-dom and other Autumn Budget proposals considered major drivers.
London has seen a drop in its millionaire population, with the city falling out of the top five cities with the most millionaires, Henley & Partners found recently. The firm's World's Wealthiest Cities Report 2025, which tracks the movements of high-net worth individuals, found that London has been pushed out of the top five by Los Angeles (220,600 millionaires), which claimed the fifth spot. London and Moscow (which ranks 40th, with 30,000 millionaires) are the only two cities in the top 50 that have recorded negative growth over the past decade, with their millionaire populations de...
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