Last year, Peter Thiel decided to move to Argentina. He didn’t want to live only in America anymore. He started looking for other countries to call home.

Peter Thiel is a famous businessman from America. He set up successful companies like PayPal and Palantir. He bought a large house in one of the richest areas of Buenos Aires, and his children moved with him. They settled into their new school in Argentina quickly.

Thiel wasn’t the only person who did this. Many wealthy people bought houses in different countries last year. Some of them picked up second or third passports. A passport is an official document that lets you travel and live in other countries.

This trend grew quickly among very rich people. In the past, most wealthy people stayed in their own country. But last year, many of them looked into other options and ended up choosing a “second home” in another part of the world, in case life in their own country became difficult or dangerous.

Argentina, New Zealand, Costa Rica, and Thailand turned into some of the most popular destinations for wealthy people. Thousands of rich families moved to these countries last year, and more people are expected to follow this year.

Rich people wanted to feel safe and have more freedom. They didn’t want to get stuck if something went wrong in their home country. For many wealthy people, setting up a second home felt like a smart and safe decision.