A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.

A growing number of wealthy Americans are making plans to leave the country in the run-up to Tuesday’s election, with many fearing political and social unrest regardless of who wins, according to immigration attorneys.

Attorneys and advisors to family offices and high-net-worth families said they’re seeing record demand from clients looking for second passports or long-term residencies abroad. While talk of moving overseas after an election is common, wealth advisors said this time many of the wealthy are already taking action.

“We’ve never seen demand like we see now,” said Dominic Volek, group head of private clients at Henley & Partners, which advises the wealthy on international migration.

Volek said that for the first time, wealthy Americans are far and away the company’s largest client base, accounting for 20% of its business, or more than any other nationality. He said the number of Americans making plans to move abroad is up at least 30% over last year.

David Lesperance, managing partner of Lesperance and Associates, the international tax and immigration firm, said the number of Americans hiring him for possible moves overseas has roughly tripled over last year.

A survey by Arton Capital, which advises the wealthy on immigration programs, found that 53% of American millionaires say they’re more likely to leave the U.S. after the election, no matter who wins. Younger millionaires were the most likely to leave, with 64% of millionaires between 18 and 29 saying they were “very interested” in seeking so-called golden visas through a residency-by-investment program overseas.

Granted, the interest in second passports or residencies has been rising steadily among the American rich since Covid-19. Whether it’s retiring to a warmer, cheaper country or being closer to family abroad, the wealthy have plenty of nonpolitical reasons to want to venture overseas.

The ultra-wealthy also increasingly see citizenship in one country as a concentrated personal and financial risk. Just as they diversify their investments, they’re now creating “passport portfolios” to hedge their country risk. Others want a non-U.S. passport in case they’re traveling to dangerous countries or regions hostile to the U.S.

Yet the elections and the political climate have accelerated and added to the push by wealthy Americans to consider a Plan B abroad. Lesperance said that for more than three decades, his American clients were mainly interested in moving overseas for tax reasons. Now, it’s politics and fear of violence, with next week’s election turbocharging those fears.

“For some of them, the primary thing is ‘I don’t want to live in a MAGA America,'” Lesperance said. Others are worried about violence if Donald Trump loses, or Vice President Kamala Harris’ plan to tax unrealized capital gains for those worth more than $100 million. While tax analysts say the unrealized gains plan has little chance of passing Congress, even with a Democratic majority, Lesperance said it’s still a risk.

“Even if there is only a 3% chance that it happens, you still want to take out insurance,” he said.

Attorneys say the wealthy also cite mass school shootings, the potential for political violence, antisemitism, Islamophobia and the government’s soaring debts as reasons to leave.

When it comes to destinations, Americans are looking mainly to Europe. According to Henley, the top countries for Americans looking for residency or second citizenships include Portugal, Malta, Greece, Spain and Antigua. Italy has also become popular for Americans.

“The love affair between Americans and Europe has been going on for very long time,” said Armand Arton, of Arton Capital. “It comes with a price, and they are totally fine investing couple hundred thousand dollars or a half million into a property or a fund.”

The rules and costs, however, are changing fast. While mass immigration has become a hot-button political issue across the world, some politicians in Europe have started to push back against golden visas that give the wealthy citizenship or residency purely based on investments.

Portugal, for instance, faced a backlash after a flood of foreigners poured in the Algarve and bought beach properties as part of the golden visa program. With property prices soaring by 15%, the government changed the rules, increasing minimum investment thresholds and removing residential property as an investment category.

Italy this summer doubled its flat tax on the overseas incomes of wealthy foreigners who transfer their tax residency to Italy, to 200,000 euros ($217,000). The change followed a wave of wealthy new migrants who came for the program and drove up Milan property prices.

For now, Malta remains the go-to second passport for the American rich. While expensive, at about $1 million to $1.2 million all-in, Malta’s investment citizenship program offers citizenship and unrestricted travel and residency in Malta and by extension the European Union, according to immigration attorneys. The EU has been challenging the Malta program in court, but most immigration attorneys expect the country to prevail.

The Caribbean is increasingly popular for Americans who simply want a second passport. Buying an approved piece of real estate in Antigua and Barbuda for more than $300,000 puts you on a path for citizenship, which allows freedom to travel to Hong Kong, Russia, Singapore, the U.K. and Europe, among other countries. St. Lucia is also increasingly popular, attorneys say.

Americans with ancestry in Ireland, Italy and dozens of other countries can apply for so-called lineage citizenship, which is typically far cheaper than an investment visa. Some countries, like Portugal, also offer retirement visas, which allow entry and a path to citizenship.

Don’t expect to get any citizenship or residencies right away. With attorneys and countries inundated with so many applications, and so many different background checks and approvals required, the process can take months or even a year or more. And that waiting list could grow longer depending on the election results.

“It’s getting crowded,” Lesperance said. “And I’m sure I’m going to get a bunch more on Nov. 6 or 7.”

Storied Swiss watch maker Patek Philippe announced its first new collection in 25 years this week, dubbed the Cubitus line.

The new collection comes at a time when luxury watch prices have largely stabilized, fueled by strong demand. Younger investors and collectors began buying up luxury time pieces during the Covid-19 pandemic, but secondhand prices have more recently slumped.

The new lineup from Patek Philippe includes three different models — two in steel casings and one in platinum — and is meant to “offer a new reinterpretation of the ‘elegant sporty’ style,” according to a press release. The two steel versions, one two-toned with rose gold to create a more vintage feel and the other purely steel, play into the line’s sporty inspiration and feature colorful faces.

The third model separates itself with a platinum casing and different face design, including a large-format date and a dial tracking the moon phase and the day of the week.

Patek Philippe said it incorporated new technologies in the watches, ranging from an ultrathin and self-winding mini rotor to an instantaneous-jump mechanism that ensures the different displays match up within 18 milliseconds. The brand said it has filed six patent applications for the new tech.

Patek Philippe’s new collection also includes new cufflinks, designed to match the watches with a white-gold frame that reflect the case’s shape.

Patek Philippe, founded in 1839, is often referred to as one of “The Holy Trinity” in watch making, along with Audemars Piguet and Vacheron Constantin.

The brand’s last new collection before the Cubitus line was back in 1999 when it released the Twenty~4 design. That lineup was “dedicated to the young, active and modern woman,” according to Patek Philippe’s website.

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.

Wealthy millennials and Gen Zers are redefining the world of charitable giving, seeing themselves more as activists than donors, according to a new study.

Wealthy donors under the age of 43 are more likely to volunteer, fundraise and act as mentors for charitable causes rather than just give money, according to a new survey from Bank of America Private Bank. The survey of more than 1,000 respondents with more than $3 million in investible assets also found that young philanthropists want more public attention for their giving compared to Gen Xers and baby boomers.

The shift in the way the next generations give, as well as the causes they favor, is likely to remake the charitable landscape. Rather than simply writing checks to causes they care about, the next generation of givers wants to be deeply involved in trying to fix the biggest social and environmental problems.

“They view themselves as holistic social change agents,” said Dianne Chipps Bailey, managing director and national philanthropic strategy executive for philanthropic solutions at Bank of America Private Bank. “I think they have a better sense of agency in this world. They’re really looking to move their capital in a much more comprehensive robust way to achieve their social impact goals.”

Both younger and older multi-millionaires are highly charitable. According to the study, 91% of the respondents had given to charity in the past year. More than two-thirds of both older and younger respondents said they are motivated by “making a lasting impact.”

Yet their reasons for giving and their methods vary widely by age. Donors under the age of 43 are slightly more likely to volunteer and are twice as likely to help raise charitable donations from friends or peers rather than just giving directly. They’re  more than four times as likely to act as mentors. And they’re more interested in serving on nonprofit boards rather than limiting their contributions to capital.

Older donors give from of a sense of responsibility. Those over the age of 44 were more than twice as likely to give due to “obligation” than younger donors. Those under 43 were more likely to cite self-education and the influence of their social circle as drivers of their philanthropy.

Some of the differences between generations may be rooted in life cycles and wealth. The younger wealthy are still building their fortunes and inheriting their wealth, so they’re more likely to give their time and help fundraise. Still, Bailey said the focus on peer networks and activism will likely endure even as they get older and wealthier.

“You can think of philanthropy as the five T’s – time, talent, treasure, testimony and ties,” she said. “The older generation is focused on the treasure (giving funds). The younger generations are leaning into the other four.”

The young wealthy also support different causes. They’re twice as likely to support efforts related to homelessness, social justice, climate change and the advancement of women and girls. Philanthropists over 44 were far more likely to support religious organizations, the arts and military charities.

“When you think about what [the younger generation] has been through in recent years, 2020, where they saw it all exposed, they’re leaning into the response,” Bailey said. “And it’s sustained. So many people move their giving with the headlines, but they’ve really dug in deeply. It’s not a moment but a movement.”

The implications of the generational shift in giving will be profound for wealth advisors and nonprofits, advisors say. Since many younger donors inherited their wealth, they’re far more likely to use giving vehicles created by their family. They were more than four times more likely to use charitable trusts, family foundations and donor advised funds.

Bailey said the next generation wants to talk about philanthropy as part of an initial discussion with a wealth advisor — even before talking about their investment plan.

“They have a hunger to know more, to learn more about philanthropy,” Bailey said. “They’ve already got these complex [giving] vehicles at the ready, so the education piece is critical both for nonprofits and for the advisors.”

With charity increasingly dominated by wealthy donors, and with the next generations expected to inherited over $80 trillion in the coming decades, courting the young rich will be critical.

“You need their perspective and you’re going to need their money,” Bailey said.

Advisors to the young rich also need to be generous with their praise. Younger donors are more than three times more likely to gauge the success of their philanthropic efforts by public recognition, according to the survey. Nearly half say they are likely to associate their names with their philanthropic efforts, while more than two-thirds of older donors give anonymously.

“Praise them, celebrate them, give them visibility,” she said.

Just don’t call them “philanthropists.” A report from Foundation Source found that 80% of young donors want to be seen as “givers,” while 63% also like the terms “advocate” or “changemaker.” Only 27% accepted the label of “philanthropist.”

Rolls-Royce has opened its first U.S. “Private Office,” a secret VIP design studio for ultra-wealthy clients who want highly personalized cars.

The Private Office, in Manhattan’s trendy Meatpacking District, is central to the fabled British automaker’s new strategy of growing sales and profits from selling more customized, higher-priced vehicles rather than boosting production. Rolls-Royce produced 6,032 cars last year, less than half the production of Ferrari, yet continues to generate strong profit growth for its parent company BMW.

While Rolls-Royce customers have been customizing their rides for decades, the Private Office brings the concept of a personalized Rolls to a whole new level. Once select customers order a car from a dealer, they can go to the Private Office to work with a designer to create an entirely personalized car — from special paint colors to their favorite fabrics, woods, lighting schemes and other materials.

“They may want the exterior of their Rolls-Royce to match the color of their dog’s eyes,” said Rolls-Royce CEO Chris Brownridge. “They may want to have interior panels in the car with the mother-of-pearl from their private collection. We can bring those sorts of requests to life through having direct access to the team. And the possibilities really are endless.”

Rolls-Royce calls its top level of personalization the “Bespoke” program. Creating a Bespoke Rolls can add hundreds of thousands of dollars to the sticker price, which for a Rolls-Royce Phantom is just under $500,000, bringing the total sale price of some cars to more than $1 million.

The Private Office is reserved for the most complicated — and expensive — Bespoke projects. It’s not a dealership and there are no actual cars displayed. To get into the Private Office, customers press a black security screen outside an unmarked building and take a secure elevator to the top floor.

With its sleek black kitchen, low sofas, a dining table, outdoor terrace, and turntable with stacks of classic rock and jazz vinyl records, the Private Office looks more like a billionaire’s pied-a-terre than a car showroom. The only hint that it’s a Rolls-Royce facility is a row of shelves along the back wall displaying samples of paint colors, threads, leathers, metals and a row of the famous “Spirit of Ecstasy” hood ornaments in different finishes.

The New York Private Office is the company’s third worldwide, following Dubai, United Arab Emirates, which opened in 2022, and Shanghai in 2023. The company is about to open its fourth, in Seoul, Korea.

The idea, Brownridge says, is to bring the expertise and design capability of its Goodwood, U.K., factory to clients around the world. That’s especially important as client requests become more unusual and complex.

One Rolls-Royce client wanted a car inspired by flowers. The Rolls team created an extended-wheelbase Phantom with a headliner covered with more than 1 million embroidered roses. Another client who loves Hawaii and has a favorite rocking chair made of rare Koa wood wanted a Koa-themed Rolls. Since Koa wood is protected in Hawaii, only dead or naturally fallen Koa trees can be harvested. Rolls spent three years waiting and hunting for the right tree, then built a Koa Phantom, with the wood used on the dashboard, center console and doors. The company even made a matching picnic hamper and table. The whole package took more than 500 hours to create.

“A lot of these clients would never, ever sell their cars,” Brownridge said. “It’s so personal and it means to much to them.”

To keep up with the surging demand for custom cars, Rolls-Royce is also expanding its Bespoke workshops in Goodwood. Brownridge said the goal isn’t to produce more cars, but to produce higher-value, more customized cars.

“As our commissions have become more sophisticated, our business has become more successful,” Brownridge said. “Our mission is really to create value for our shareholder, to create value for our retail partners, but most importantly, to create value for our clients. Because when you produce a masterpiece for them, it means so much more than just a motorcar. I often say that the fact that they have four wheels is almost a nice-to-have, because they really are a work of art.”

Brownridge said when customers are building their special Rolls-Royces, they not only visit the factory in Goodwood, but they also get to know the paint shop specialists, the woodworkers, the embroidery experts and other members of the team.

“Every single client that I’ve met, they all say, what makes Rolls Royce Special is that they feel that they are part of a family,” he said. “They’re not customers to us, they’re part of Rolls Royce. Many of our clients will come to Goodwood, and they will know the people that are making their cars. It’s not just the personal connection to the motorcar. It’s the personal connection to the whole team who are producing these magnificent things.”