- A UBS report reveals the world’s ultra-rich are actively reducing their US dollar exposure due to geopolitical tensions and sovereign debt concerns.
- Two-thirds of surveyed families, with an average wealth of $2.7 billion, expect the dollar to weaken further, prompting portfolio diversification.
- These wealthy investors are turning to “multishoring,” establishing offices and acquiring assets in Asia Pacific and Western Europe.
A significant shift in global wealth strategy is underway, as the world’s ultra-rich are actively reducing their reliance on the US dollar, a new survey from UBS in May 2026 has found. The move, driven by geopolitical conflict and concerns over US debt, signals declining confidence in the world’s primary reserve currency.
Consequently, nearly half of the 307 surveyed families admitted to being overexposed to dollar-denominated assets. UBS executive Benjamin Cavalli noted, “For the first time, we are feeling that family offices want to build up in Asia Pacific and, to a certain degree, also in Western Europe.” This strategic pivot is not limited to foreign investors, as a limited de-dollarization move is also coming from US-based family offices.
Meanwhile, this capital flight is manifesting as a turn toward “multishoring” to safeguard business and personal wealth. Families are establishing offices and acquiring stocks and real estate in new global jurisdictions. This diversification allows them to hold non-dollar assets and reduce dependence on a single economic sphere.
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