Where Billionaires Are Getting Second Passports, Residences

Key Points:

• Ultrawealthy Americans are increasingly obtaining alternative citizenships and residence programs as contingency plans against global crises such as pandemics, nuclear war, or geopolitical instability, treating them as expensive insurance or portfolio diversification.
• Billionaire Peter Thiel exemplifies this trend, having temporarily relocated to Argentina and holding multiple citizenships, while many others favor European and Caribbean residency programs for their travel benefits and lifestyle.
• A 2025 UBS survey found that 36% of billionaires have relocated at least once, with an additional 9% considering it; meanwhile, applications for alternative residencies from Americans surged 99% year-over-year according to Henley and Partners.
• Factors driving this trend include political polarization, anti-billionaire sentiment, and memories of pandemic travel restrictions, prompting the ultrawealthy to seek multiple global residencies to ensure safe havens and flexible options.
• While Argentina attracts some interest, Europe remains the preferred destination for US billionaires due to stronger economies and easier access to citizenship, with many ultrawealthy individuals pursuing multiple citizenships and residencies worldwide for maximum diversification.