Shortly before elections, ultra-wealthy Americans fleeing US en masse
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Wealthy Americans are increasingly choosing "more hospitable" nations, such as Portugal, Malta, Spain, Greece, and Italy.
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A demonstrator leaves a police line after gas was dispensed during a protest in Atlanta, Georgia, in June 2020. (AP)
Amid a looming and polarizing presidential election, a record number of wealthy Americans are preparing to relocate overseas, citing worries of political upheaval and economic instability, regardless of the outcome.
Attorneys and consultants describe an extraordinary demand for second passports and long-term residency.
Dominic Volek of Henley & Partners stated that rich Americans now account for 20% of their customer base, outnumbering all other nationalities, with ambitions to migrate growing by at least 30% since last year.
"We've never seen demand like we see now," Dominic Volek, group head of private clients at Henley & Partners, which advises the wealthy on international migration, told NBC.
The firm noted that requests from Americans seeking a second passport or alternative residency had increased by an astounding 504%.
Citing civic and social instability, political attacks on democracy, as well as more possibilities and cheaper taxes abroad, wealthy Americans are increasingly choosing "more hospitable" nations, such as Portugal, Malta, Spain, Greece, and Italy.
The growing desire to leave the United States began during the COVID-19 outbreak, but the number of Americans hiring Volek for potential migrations abroad has tripled since last year, according to David Lesperance, managing partner of an international tax and immigration agency.
For more than three decades, Lesperance claimed that his American customers were primarily interested in going abroad for tax reasons. Now, he adds, "It's politics and fear of violence," with next week's election fueling those anxieties.
Lesperance stated that some of his clientele's primary concern was they didn't "want to live in a MAGA America."
Some specifically expressed concern regarding possible rioting if Donald Trump loses the election, or Vice President Kamala Harris' proposal to tax unrealized financial gains for anyone worth more than $100 million.
While tax specialists believe the unrealized gains proposal has little chance of passing Congress, even with a Democratic majority, Lesperance said it's still a danger.
"Even if there is only a 3 percent chance that it happens, you still want to take out insurance," he stated.
1 in 4 US citizens believe a civil war is likely post-elections: Poll
Almost 27% of US citizens fear a civil war outbreak following the elections, with both Harris and Trump's supporters expressing similar concerns, a recent YouGov poll revealed.
Six percent of poll takers said the possibility of a civil war breaking out post-elections was "very likely", while 21% stated that it would be "somewhat likely". The survey, conducted between October 18-21 for The Times and the SAY24 project, showed that similar percentages of supporters for both Trump and Harris believed that a civil war was at least somewhat likely.
Twelve percent of the 1,266 respondents indicated they know someone who might resort to violence if they felt Trump had been unfairly denied victory, while five percent said the same about Harris. The pollsters also inquired about gun ownership but found no links to perceptions of the likelihood of a civil war.
The poll exposed significant divisions in American society, with 84% of voters acknowledging that the country is more divided now than it was a decade ago.
After US President Joe Biden dropped out of the election race and endorsed Kamala Harris as the Democratic nominee, the party experienced a "honeymoon phase" with voters, with polls indicating high chances of a Democratic win in November. However, more recent surveys show Trump leading the race and winning over key states, even within the margin of error.
