Billionaires Also Moving Their Money To Safe Havens Overseas

Critics of President Donald Trump’s “Big Beautiful Bill” argue that it takes from the poor to benefit the wealthy, but not all billionaires are celebrating its passage.

The bill’s passage, which includes cuts to Social Security and Medicaid, eliminates federal support for education, and raises budgets for immigration crackdowns.

Many have condemned the massive debt that Trump’s tax law is expected to generate, Forbes Daily reported.

While some provisions of the bill are more likely to benefit multi-millionaires than billionaires, several of the world’s richest individuals are concerned about the estimated $3.4 trillion that will be added to the federal deficit by 2034 as a result of the legislation.

One estate planning attorney told Forbes that some of his billionaire clients are moving more of their wealth offshore to “more stable economies.”

Others see little logic in the bill’s passage, which includes cuts to Social Security and Medicaid, eliminates federal support for education, and raises budgets for immigration crackdowns—measures intended to please Trump, a descendant of immigrants himself.