For billionaires like Peter Thiel, plan B is another country. Here's where they're lining up passports or second homes.
For billionaires like Peter Thiel, plan B is another country. Here's where they're lining up passports or second homes.
Madeline Berg,Joshua Nelken-ZitserWed, June 3, 2026 at 9:11 AM UTC
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The number of billionaires like Peter Thiel investing in geographic backup plans — be they passports or residence programs — is on the rise.Bloomberg/Getty Images -
Whether prepping for doomsday or political backlash, US billionaires are increasingly seeking geographic backup plans.
Peter Thiel's relocation to Argentina is the latest example.
Here are five popular passports that the ultrarich are adding to their trophy cases.
Forget breaking glass. In case of an emergency, billionaires will be beelining for their backup country.
Ultrawealthy Americans are increasingly securing a plan B (or C or D) by obtaining alternate citizenships and residence programs, be it as a hedge against another pandemic, a nuclear war, or geopolitical upheaval. Think of it as very expensive insurance or portfolio diversification.
Peter Thiel is the latest example. The billionaire PayPal and Palantir cofounder temporarily relocated to Argentina, The New York Times reported last week.
"It sounds melodramatic until you've sat through the off‑the‑record dinner conversations: nuclear escalation, AI going sideways, and generalized civil unrest in the Northern Hemisphere," Charlie Garcia, the founder of centimillionaire membership club R360, said. "For that crowd, the Southern Cone looks like a literal and figurative safe distance."
A 2025 UBS survey of 87 billionaire clients found that 36% of them have relocated at least once, while a further 9% are considering doing so, and an April 2026 report from wealth intelligence firm Altrata found that billionaires and centimillionaires "no longer rely on a single system, market, or passport."
While Russians and Chinese used to dominate the market for second passports, Americans have taken their place.
In 2025, Henley and Partners, a global residence and citizenship planning firm, saw a 99% year-over-year increase in applications from Americans interested in alternative residence — which gives noncitizens broad freedom to move to another country — and citizenship. While that group includes members of the upper middle class, a large number of Henley and Partners' clientele are ultrarich, with net worths in the eight figures or more.
"A contingency plan is quite expensive," Basil Mohr-Elzeki, who leads Henley and Partners' America office, told Business Insider.
Plus, these contingency plans aren't exactly a way to save money, he said. While tax policy is much talked about, it's less of a driver for rich Americans, who foot a US income tax bill wherever they live.
Growing political polarization, memories of pandemic-era travel restrictions, and a swing toward anti-billionaire sentiment have all contributed to the boom.
Winston Chesterfield, the founder of Barton, a London consulting firm focused on luxury and the wealthy, pointed to resentments "bubbling beneath the surface."
"People saying billionaires shouldn't exist," he told Business Insider. "If you are at that level, you'd be looking at these kinds of things, saying, 'Do you know what? I've got to have multiple plans for the future because I simply don't know where I might be able to exist in the future.'"
Don't expect the wealthy to rush to Buenos Aires, like Thiel, en masse, wealth and relocation advisors told Business Insider. The country's economy remains volatile, and there are few straightforward paths to citizenship and permanent residence that don't involve relocation.
For Thiel, Argentina is one of many options; he holds citizenship inthe US and New Zealand, and has reportedly applied for a Maltese passport. Argentina, with its new president, Javier Milei, could be his latest pet interest.
"He does do this sort of thing all the time," Chesterfield said of Thiel. "He goes around buying different places, different plan Bs all over the place."
Europe, rather, remains the most popular option for US citizens. More than half of the US applications for foreign citizenship or residence programs that Henley has processed this year have been for European programs.
"European residency programs continue to attract strong interest, particularly from American investors drawn to the strong travel rights and the promise of a luxurious lifestyle on the continent," Armand Arton, the CEO of Arton Capitol, told Business Insider.
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Others look to the Caribbean, home to some of the world's easiest routes to citizenship and, by extension, a coveted second passport.
And the ideal is all of the above.
"The ultrarich typically do more programs to have more of a broader diversification of residencies and citizenships globally," Mohr-Elzeki said. "
Here are five places where wealthy Americans are looking for a fallback plan.
Malta
Alberto PIZZOLI / AFP via Getty Images
While gaining citizenship in Malta is not as easy as it once was, it is still one of the few European countries with a more transactional path to citizenship. The country's new "citizenship by merit" program offers discretionary citizenship to foreigners — oftentimes those with plenty of cash.
The country checks many boxes: It's safe, isolated, has luxury infrastructure, and offers a gateway to the European Union.
"They're thinking of long-term legacy," Mohr-Elzeki said of the ultrich who gain citizenship in Malta. "That provides optionality for the next generations. Everyone has access to not only live in Europe, but they have access to the schools, subsidized education, subsidized healthcare."
St. Kitts and Nevis
Kruck20/Getty Images
St. Kitts and Nevis is one of a handful of Caribbean islands offering a streamlined route to citizenship. Within a year, those who contribute a six-figure sum can receive a second passport — one that includes certain privileges in the UK and other Commonwealth countries.
New Zealand
: Martin Berry/UCG/Universal Images Group via Getty Images
New Zealand has remained a top option for US citizens.
It's English-speaking, an isolated safe haven, and has a relatively stable economy. The country's new golden visa program offers permanent residency without relocation for an investment of as little as $3 million.
Antigua and Barbuda
: Marica van der Meer/Arterra/Universal Images Group via Getty Images
Like St. Kitts and Nevis, Antigua and Barbuda is a twin-island nation that offers a relatively quick path to citizenship through a cash donation or a real estate purchase.
Austria
Ahmet Serdar Eser/Anadolu via Getty Images
While difficult to obtain, Austria does offer citizenship by merit, similar to Malta. It's desirable: An Austrian passport gives access to the European Union.
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Source: “AOL Money”
