Chinese Billionaires Lead Global Emigration Trend, Taking Billions in Wealth Out of China

Chinese Billionaires Lead Global Emigration Trend, Taking Billions in Wealth Out of China
Newly naturalized U.S. citizens have their photo taken with members of the U.S. Air Force Junior ROTC color guard after being sworn in as U.S. citizens during a naturalization ceremony in San Francisco, on May 23, 2006. Justin Sullivan/Getty Images
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As the political and economic environment in China has deteriorated in recent years, a large number of Chinese billionaires have emigrated to other countries. Financial security has become the top motivation for China’s wealthy to flee the country with their assets.

On Feb. 29, the Financial Times reported that Chinese entrepreneur and tech investor Neil Shen acquired permanent residency in Singapore before the pandemic and later opened an office in the country for his $56 billion venture capital firm.

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