The UK's Millionaire Exodus: The Number That Got Withdrawn

The UK’s millionaire exodus was one of 2024’s biggest economic stories. The firm behind the number just stopped publishing it.

Henley & Partners said 9,500 millionaires left the UK in 2024 and forecast 16,500 more departures for 2025. The story ran in roughly 10,900 news pieces over 2024, about 30 a day, by the Tax Justice Network’s count. Then, in its June 2026 report (dated 2026-06-16), Henley dropped both the forecast and the data provider behind it, New World Wealth, after two forensic reviews flagged the figures as possibly fabricated.

The official count never matched

The UK’s Office for Budget Responsibility projects about 10,800 non-dom departures (residents taxed as domiciled abroad), and HMRC, the tax authority, has tracked at or below that figure. Henley’s own 9,500 was just 0.3% of Britain’s millionaires.

People really are leaving the UK. But non-doms and millionaires aren’t the same population, and the number that would settle the argument doesn’t land until HMRC publishes its official count on 30 July 2026.

One thing that complicates it: “possibly fabricated” is the language used by Tax Policy Associates and the Tax Justice Network in their forensic reviews, not a finding by a court or a regulator, and Henley has not formally conceded it.