Is France expelling a large number of its wealthy? According to the most recent Henley & Partners Wealth Migration Report, 800 millionaires left France in 2025. The wealthiest appear to be leaving the country, at first glance. For comparison, the UBS Global Wealth Report states that 2.4 million people in France still have a net worth of more than €1 million.
Although France’s quality of life and joie de vivre continue to make it a desirable place for the wealthy to reside, there is a general trend—albeit little at the moment—that some of the country’s wealthiest citizens are relocating and, more crucially, bringing their capital with them.
According to the French Institute for Research on Public Administration and Politics (iFRAP), each millionaire who left the country last year took with them an average of €5 million in personal assets, or about €4 billion.
Economists note that even a relatively small number of high-net-worth individuals can have an outsized economic impact because they frequently own businesses, fund investments, and generate significant tax revenues, even though the number of departing millionaires represents only a small portion of France’s wealthy population.
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