3000 Millionaires Flee Chicago, Cite Rise in 'Racial Tension' And Crime

Millionaires are leaving Chicago more than any other city in the United States on a net basis, according to a new report.

About 3,000 individuals with net assets of $1 million or more, not including their primary residence, moved from the city last year, with many citing rising racial tensions and worries about crime as factors in the decision, according to research firm New World Wealth. That represented about 2 percent of the city's high net worth individuals.

Cities in the United States that saw a net inflow of millionaires included Seattle and San Francisco.

Chicago was among four cities worldwide with the biggest flight of millionaires.

The French city lost 7,000, or 6 percent, of its millionaires, followed by Rome, which lost 5,000, or 7 percent.

Chicago was next, followed by Athens.

Most of the millionaires who left Paris and Rome fled their countries, while Chicagoans moved elsewhere in the United States, said New World Wealth, whose data is used by luxury-goods companies, private banks and real estate professionals, among others.