America’s elite are racing to open Swiss bank accounts and move hundreds of millions of dollars out of the country as they fear being targeted by Donald Trump.
Fears of potential restrictions on moving money overseas mean ultra-wealthy Democrat families are moving huge chunks of cash out of the country as an insurance policy against the Republican administration.
Robert Paul, co-head of private clients at wealth management firm London and Capital, said: “These are big chunks of money. We’ve had five cases in the last three or four weeks, and the sums have been $40m, $30m, $30m, $100m and $50m.
