As I understand the facts..., the VAST majority of those giving up their US citizenship ARE NOT "Fatcats" but are US citizens who have retired abroad and, due to our "IRS Rules", they are unable to bank in their locations! The vast majority of foreign financial institutions have merely decided to PROHIBIT US citizens from using their services so as to avoid draconian additional paperwork! If anyone has a data source indicating otherwise..., please post!
I think you are probably right.