If you are 1-5% the US is very good place to live, but I would argue the best place will depend from personal taste.
I think many will simply arbitrage their wealth, and simply don’t the US market. While you live very well in the US with a net worth of 10m, there are places where you will a kind for that amount while getting more safety and better infrastructure.
I picked Europe for cultural and economic reasons.
I find Europeans generally more “down to earth”, interested in other things aside money, slightly less materialistic, not as fake as Americans, not as easily to offend means I don’t walk on eggshells. More importantly, not obsessed with guns despite sometimes owning them, not pretending they are the only ones having freedom and rule of law. Less stressed out, and generally in a better mental state. People are also less entitled (aside some cities).
Economic reasons means I don’t have to make a great salary in order to live in a nice, clean area which isn’t a crime infested den. Organic food isn’t as expensive, and the normally priced food is also better. The salary threshold to have the same lifestyle in the US is quite high depending on which areas we compare. And its get even higher if you want a better lifestyle, with similar amount of vacations, healthcare level etc.
However, I am not sure I would recommend Europe for up-starters from non-EU places. The salaries are quite low, assimilation is difficult, properties quite expensive. Many Europeans have already a decent quality of life, and Europe generally lacks the “rat race hustler” dynamic as in the US. The weather in the US is also better for the most parts.