
Welcome to Milan’s new millionaire members’ club
Milan has long been Italy’s style and financial capital. But since Brexit and increased tax on non-doms in the UK — and the re-arrival of Trump in the US — it now has almost as many UHNW (ultra-high-net-worth) residents as London and Paris, according to Henley & Partners’ 2025 World’s Wealthiest Cities Report. Estimated to be home to 17 billionaires and 115,000 millionaires, with numbers fast rising, the city is having to adapt to meet the influx, the latest being a new private members’ club.
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