Peter Thiel relocates to Argentina: Billionaires pursue sovereign diversification (businessinsider.com)

• Peter Thiel reportedly moves family to Argentina: children enrolled in school, home bought in Buenos Aires.
• Billionaire trend towards 'sovereign diversification': multiple passports, tax regimes, Southern Hemisphere Plan B.
• Motivators: Proposed California 5% billionaire wealth tax, NYC pied-à-terre tax, and existential risk concerns.

"Peter Thiel, co-founder of PayPal and Palantir, is reportedly moving his family to Argentina, enrolling his children in school and buying a home in Buenos Aires. He is part of a trend among ultra-wealthy individuals seeking 'sovereign diversification'—multiple passports, tax regimes, and a Plan B jurisdiction in the Southern Hemisphere. Driving factors include proposed taxes like a 5% wealth tax on California billionaires and New York City's pied-à-terre tax, as well as concerns about political realignments and existential threats. Henley & Partners reported a record 142,000 high-net-worth individuals migrated in 2025."