Flight of British Billionaires: Wealthy Move to Tax Havens
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View chart & analysis → - 1A total of $160 billion held by British billionaires who have weakened or severed ties has moved away over the past two years.
- 2Steel billionaire Lakshmi Mittal, with a net worth of $40.8 billion, has left the UK for Switzerland after 30 years.
- 3The wealthy are heading to Switzerland, Monaco, and the UAE as a 24% capital gains tax rate is applied by the government in October 2024.
So what's the key point?
Wealthy people in the UK are moving to places like Switzerland to reduce their tax burden. Billionaires, including Lakshmi Mittal, have moved with $160 billion.
Source Fortune · View original ↗
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