Are we witnessing a billionaire bug out as yet another mega-monied guy searches for fewer restrictions on that hard-earned paycheck? Gov. Gavin Newsom’s hot mess of California is a leading motivator. Gov. Kathy Hochul telling her New York billionaires to leave the state, well, they complied, and now the mayor of the largest US city is running with scissors. Why wouldn’t the rich want to escape? But this is about more than a few blue states in the United States: Peter Thiel, a conservative who backed President Donald Trump, co-founded PayPal and Palantir, and, as of December 2025, had a net worth of $27.5 billion, is looking to the northern coast of South America as an option if implosion is imminent. “¡Bienvenidos a Argentina!”
Having riches beyond what one can spend in a lifetime, Thiel must be attempting to create a new Guinness World Record category of legal citizenship accumulation. He needs a hobby. The tech giant is up to three, currently, and he’s not even 60 years old. Born in Germany (1), naturalized in the United States (2), and in 2011 he wrangled another one in New Zealand (3). Most recently, Thiel supplanted himself to Argentina, and obvious nesting habits are underway.
“All billionaires of the world who want to flee countries increasingly regulated, with higher taxes and governments that persecute their citizens, are welcome in the Argentine republic, the new land of freedom,” declared Manuel Adorni, cabinet chief for Argentine President Javier Milei, who appeared before Congress.
Sounds like an invitation to flee the Blue States of America. Boasting good schools, less violence, and the opportunity for each billionaire to run free like a mustang across the plains, unfettered with tie downs and saddles, Argentina is looking sassy.
Domicile Diversification
It might be that rich folks want a Plan B, desperate to survive any calamity and carry on like Keith Richards and the household cockroach. They can afford it, and plans C through Z. Thiel has purchased a $12 million mansion in an exclusive district of Buenos Aires and, so far, has temporarily relocated his family and children to the country. Milei has been at the table with Thiel as the country debates offering citizenship.
Although Milei has habitually expressed a desire to welcome foreign investors such as Thiel, Argentinians would generally not offer citizenship to him or any other individuals who fail to meet specific legal conditions. Well, that’s what they say, at least to the regular people. Thiel might not get in for these reasons: multiple background checks that reveal national security risks, issues regarding the legality of funds, lack of clear program parameters. This is not the Learing Center of Minnesota candidate.
On the Argentina Citizenship by Investment web page, details are easily understandable: “While final regulations are still pending, the program is expected to prioritize strategic investments in renewable energy, agribusiness, technology, tourism, and infrastructure development, key sectors essential to the country’s long-term modernization and job creation.”
Applicants must make a “relevant investment”— usually starting at USD $500,000 — directed toward economic development. If the foreign capital does not create jobs or promote targeted innovation, well, you stay in California or New York.
American Billionaire Buy-Out
It’s like passing “go” in Monopoly, as approved investors and their families will gain direct access to Argentine citizenship, bypassing the traditional residency route entirely. And there is a pay-to-play wait list. If only the United States could keep these tycoons and reassure them that they won’t be penalized for making money and employing people. What an original colonist-style approach.
Argentina is not the only country that US citizens are looking at for when push comes to shove in the wake of socialism making inroads. Portugal, Malta, Greece, and Italy are locations for American refugees to consider. These countries all have some version of Portugal’s “Golden Passport” for basic admission. To break it down, this visa program provides a path to residency and citizenship — with visa-free travel in Europe. Pony up $541,000 in a fund or private equity, and it’s on. Malta offers a Golden Visa for 300,000 euros in a real estate investment, and it appears a good number of Americans are adding a visa to their to-do list.
Most Americans irritated and annoyed enough to buy a passport to greener pastures usually do not renounce citizenship to declare a new home country, mainly due to tax-filing requirements, the so-called and very pricey “exit tax,” and sometimes, beyond the pale, still believe in the Great Experiment.
Let’s face it, only King Charles III is allowed to have a deck of visa cards to play. He serves as the Head of State for the Commonwealth realms and holds automatic national status in 15 different countries. And yet the man has no passport, if we want to get picky about it.
Chasing visas is a billionaire way to ward off boredom. And in the off chance the emergency broadcast system declares “This is not a test,” or we have a famine because Bill Gates is growing meat in a lab, then they have a nice place to land – unless those other countries have fallen.
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