Just Released: Analytics Miami 2025 Q4 Report & Forecast Themes of the week:  Wealth Migration • 2025 Q4 Report & Forecast • New Interviews  Wealth migration is the theme of the week, and will be the theme of the century. Global HNWI relocations reached record levels in 2025 and still increasing into 2026. Within the United States, a clear trend persists: high value tax payers are relocating and our feeder jurisdictions are predictably increasing their hostilities to capital. The net effects of California billionaire tax are obvious. Recall that Bezos moved to Miami when his home state proposed a wealth tax. He would have accounted for 45% of the theoretical revenue. Today I read that the Netherlands is likely to start taxing unrealized capital gains at 35%. One starts to wonder what these regimes may start doing to curtain inevitable exoduses.  Wealth mobility is real. Miami's emergence as a destination for wealth is evident in the year-end and Q4 numbers.