Japan's ultra-wealthy population to shrink by 2027: report

Not necessarily bad news : this means that as these ultra-high-net-worth-individuals die in Japan, their wealth is being distributed among various and many heirs. Thus spreading the wealth around.

In other nations, wealth will just continue to get concentrated if these trends continue.

Japan's ultra-wealthy are smart enough not to live in Japan

Japan is a perfect example of overtaxing it’s populations.

Totally agree - is the main reason I plan on leaving next year actually.

For sure. Once you put together that much money get out of here. Money goes much much further everywhere else with same or better quality of life.

Good news mean more jobseekers

Having such people in your population is bad for an economy, anyway. Canada, Portugal and others, which scrapped their "golden passport" immigration programs, found that out the hard way.

Consumer spending drives an economy. Hoarding a nation's wealth in Panama or Switzerland has the opposite effect.

Even with the terrible US inflation and economy and even with a 120-140+ exchange rate- I still got 2 largish houses and some land in US for same cost as an apartment in central Tokyo.

not a long term option to live in Japan any longer.

Blacklabel

Even with the terrible US inflation and economy and even with a 120-140+ exchange rate- I still got 2 largish houses and some land in US for same cost as an apartment in central Tokyo.

And you can buy a place in Tokyo cheaper than NY/SF/LA.

not a long term option to live in Japan any longer.

so you have an exit plan?

Japan, however, will remain home to the second largest number of ultra-high-net-worth individuals

And one of the highest rates of child poverty in the developed nations. Japan is still like it was 200 years ago. The ruling class and the rest.

so you have an exit plan?

of course, wouldn’t anyone who wants their money to actually have any value towards a better quality of life?

unless you are addicted to Pokémon or are broke and need to take over an abandoned house in the country you would go someday where your money would last.

cheaper than NY/SF/LA.

who would live in those crime infested cesspools?

Blacklabel

   so you have an exit plan?

of course, wouldn’t anyone who wants their money to actually have any value towards a better quality of life?

I will remain here to the end of my days, happily.

unless you are addicted to Pokémon or are broke and need to take over an abandoned house in the country you would go someday where your money would last.

There are not many places better than living here. I know nothing of Pokemon.

   cheaper than NY/SF/LA.

who would live in those crime infested cesspools?

I live in an almost crime-free location now in a large house next to a very clean beach and great neighbors.

What wallace sed.

The worst crime we had in these parts in the last couple of years was someone pinching veggies from the allotments.

Well it's total population shrank 0.43% in 2022. I'm a scholar but not a mathematical statistician but over five years wouldn't that be something like 2.15%? This is more than the ultra wealthy. Why does Japan Today bombard us with sensationalized fake news?

cleo

What wallace said.

The worst crime we had in these parts in the last couple of years was someone pinching veggies from the allotments.

We had a major crime recently. Someone stole a flowerpot.

Why? Some scholars don't understand that demography is not the same as simple arithmetic. And some of us here bewailing high home prices in Tokyo don't know that in most second- or third tier cities, good second-hand homes can be bought for 5 million yen, or about 37k USD, and the real estate tax on those older but fine houses is next to nothing. Knowledge helps.

One thing I learned is that you have to be connected to the government in order to become rich, every yen evolve around government contracts and or subsidies and if you aint got either !? well good luck.

Totally agree - is the main reason I plan on leaving next year actually.

me too, but unfortunately the yen is worth less than Thai baht.

These comparisons are conducted by converting all other currencies into USD. Given the current value of JPY, it's not surprising that the number of Japanese super-wealthy individuals is declining. However, in JPY, these super-wealthy individuals who invest a significant portion of their money in foreign-denominated assets are growing increasingly wealthier.

nonu6976Today 06:09 pm JST Japan is a perfect example of overtaxing it’s populations.

Totally agree - is the main reason I plan on leaving next year actually.

In Singapore and Hong Kong definitely. I guess in the US as well but European countries tax more than Japan in particular for VAT with a 20% rate instead of 10% in Japan.

What exactly does this metric even mean, and the purpose?

What exactly does this metric even mean, and the purpose?

Given the random choice of 30M USD and the low number of people involved, very little. The "purpose" is probably to exert some "lower taxes" pressure on the government or something along those lines. It is a pointless metric to judge Japan by. Noone "needs" 30M USD. You can live perfectly happily without it. If there is an amount of money to care about, it is the sum that is enough to get by.

If you live in inaka, you will drink cleaner water, breathe fresher air, and see more sky and more stars, so its not just about money.

You can’t blame the wealthy people most will move to places like Dubai that offer tax free havens.

The kind of person for whom money is so important that they are happy to move to some vulgar souless hell hole like Dubai, should go, because I don't want them around me.

well Japanese governments are taking the necessary steps to encounter this.

if decrease in wealth of riches made midclass and poor better off then trickled down econ worked otherwise workers and poor continue suffered. Taxation is a form of trickled down if the rates are fair and no loopholes for riches to pay less or even zero tax. Biggest misconception is riches work hard which is true because their works are done mostly by workers who barely make ends meet.

What a shame

Yrral

Wallace,by you saying you will live here to your last days,this is considered immigration fraud,by you not intend to reside in the US

Stop posting about my life, not your concern.

Japan is a perfect example of overtaxing it’s populations.

Not just the ultra rich either.

Totally agree - is the main reason I plan on leaving next year actually.

very smart

Live in Japan but don’t keep money here or it will be stol…, taxed by the government to the hilt!

Who cares, not only their population shrinks but we all shrink in size too when higher aged and most of us don’t even know or get near ultra wealth during our whole life. And btw like everyone else they go and leave with nothing at all, as also their final clothing has no pockets applied.

Live in Japan but don’t keep money here or it will be stol…, taxed by the government to the hilt!

So you admit to committing tax fraud, assuming you are a long-term resident (10+ years)