{"id":6203,"date":"2026-10-07T16:31:24","date_gmt":"2026-10-07T16:31:24","guid":{"rendered":"https:\/\/www.vaultinsider.top\/?p=6203"},"modified":"2026-10-07T16:31:24","modified_gmt":"2026-10-07T16:31:24","slug":"billionaires-have-left-the-u-k-and-taken-160-billion-to-monaco-switzerland-and-the-uae","status":"publish","type":"post","link":"https:\/\/www.vaultinsider.top\/?p=6203","title":{"rendered":"Billionaires have left the U.K. and taken $160 billion to Monaco, Switzerland, and the UAE"},"content":{"rendered":"

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It\u2019s estimated that billionaire U.K. residents who have loosened their ties to the country in the past two years\u2014or up and left completely\u2014took around $160 billion with them collectively, according to a recent analysis from Bloomberg<\/em>. It\u2019s an eye-watering fortune that even surpasses the combined wealth of billionaires who have chosen to stick with their U.K. postcodes.\u00a0<\/p>\n

It\u2019s no secret that there\u2019s been a wave of millionaires and billionaires quitting Britain. Wealthy U.K. residents had already been fleeing the country for years before the Labour party took office in July 2024, but the biggest shift happened upon the end of the non-dom regime\u2014a policy first announced by the Conservative party in March of that year, months before handing over the reins.\u00a0<\/p>\n

The government also raised capital gains tax rates in October 2024, with the higher rate jumping from 20% to 24%.\u00a0<\/p>\n

It\u2019s driving the perception that the U.K. has become less enterprise-friendly\u2014so some business tycoons are taking their fortunes elsewhere. Now, British billionaires are flocking to low-tax destinations including Switzerland, Monaco, and the United Arab Emirates (UAE).\u00a0<\/p>\n

Switzerland, Monaco, and the UAE have become U.K. billionaire hotspots<\/h2>\n

For Britain\u2019s wealthiest, moving abroad can offer more than a change of scenery\u2014it can mean a dramatically lower tax bill.<\/p>\n

Lakshmi Mittal, an Indian-born steel billionaire with a roughly $40.8 billion net worth, up and left the U.K. after three decades for Switzerland, where he is now a resident. Switzerland has become a hotspot for British billionaires thanks to its comparatively favorable tax environment and longstanding appeal to wealthy international residents, with hedge fund billionaire Alan Howard (worth $5 billion), Ipsen heiress Anne Beaufour (worth $4 billion), and private-equity billionaire Jeremy Coller (worth $3.8 billion) taking the leap to the Alpine country. Howard became a Swiss resident in 2025, while Beaufour also changed her residency to Switzerland that year.\u00a0<\/p>\n

Others like shipping mogul John Fredriksen with a $19.2 billion fortune, as well as Egyptian billionaire Nassef Sawiris (worth $9.6 billion) who lived in the U.K. for a decade, have uprooted in recent years and hold ties or residency in the UAE. The Gulf state has no federal personal income tax, and has become an increasingly popular luxe destination for wealthy expatriates.<\/p>\n

And another picturesque locale has been a bright spot for the uber-rich: Monaco.\u00a0<\/p>\n

The tiny wealthy country on the French Riviera is not only known for luxury, yachts, and the Formula 1 Grand Prix\u2014it\u2019s also a long-standing tax haven for billionaires. Monaco has one of the lowest and most favorable tax systems in the world, charging no personal income tax for non-French residents. So it only follows that it\u2019s become a billionaires\u2019 playground.<\/p>\n

Ian and Richard Livingstone, successful U.K. property developers with a $11.2 billion fortune, left their home country for Monaco in the spring of last year. Checkout.com founder Guillaume Pousaz, worth $6.8 billion, left the U.K. for Monaco in 2025 to settle down in the tax-friendly enclave. And John Reece, the British property billionaire with $4.1 billion in wealth, also set his sails for the Mediterranean principality back in 2019, before more recent changes in policy.\u00a0<\/p>\n

While some of the ultra-rich are fleeing the U.K., others are asking to be taxed more\u00a0<\/h2>\n

Britain\u2019s billionaires and millionaires are split over the country\u2019s changing tax landscape. One camp of the ultra-rich cohort is actively exiting the country and slamming the tax policies as bad for business, while a whole other group is publicly demanding that they be taxed more.<\/p>\n

Earlier this year, 88-year-old property magnate David Reuben and his brother Simon made headlines after leaving London for the sunny shores of Monaco. The businessmen, each worth an estimated $13.1 billion, were reported to have been non-dom, allowing them to pay U.K. taxes only on income earned or brought into the country. However, the status was scrapped in 2025, and under the new rules, long-term U.K. residents can also have their global assets subject to the country\u2019s 40% inheritance tax. And telecoms entrepreneur Bassim Haidar, whose astronomical net worth is \u201cclose\u201d to $1 billion, \u201curgently\u201d left the U.K. after the non-dom policy was set to be abolished.\u00a0<\/p>\n

\u201cThere\u2019s no two questions about this; we have looked at it from every angle and it just doesn\u2019t make sense to stay here,\u201d Haidar told The Guardian <\/em>in 2024. \u201cThis [the ending of the non-dom regime] is going to cost me millions and millions of dollars and pounds every year in taxes on money that I\u2019ve actually made abroad and businesses that I\u2019ve built abroad.\u201d<\/p>\n

However, not every wealthy Briton sees higher taxes as a reason to pack up and leave. Some argue that the country\u2019s richest residents have a duty to alleviate economic inequality.\u00a0<\/p>\n

In July of this year, 120 wealthy Britons signed an open letter to England\u2019s prime minister Andy Burnham, asking for their taxes to be raised.\u00a0<\/p>\n

The \u201cProud to Pay\u201d campaign, organized by Patriotic Millionaires UK, garnered support from some of the country\u2019s biggest stars, including the likes of former footballer Gary Lineker and legendary music producer Brian Eno. The group proposed a 2% tax on wealth over \u00a310 million ($13.3 million)\u2014which is supported by 80% of U.K. millionaires\u2014that would generate around \u00a324 billion ($32 billion) every year.\u00a0<\/p>\n

By forking over more of their fortunes, the group argues that higher taxation would \u201cdisperse economic power\u201d to those who need it most.<\/p>\n<\/div>\n

#Billionaires #left #U.K #billion #Monaco #Switzerland #UAE<\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s estimated that billionair… <\/p>\n","protected":false},"author":1,"featured_media":6204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[432,479,112,269,1148,1149,2316,635,169,5345,3509,640,642,9317,645,9318,649,1156,1818,81],"class_list":["post-6203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-billion","tag-billionaires","tag-britain","tag-business","tag-england","tag-entrepreneurs","tag-europe-cost-of-living","tag-founders","tag-income","tag-inheritance","tag-left","tag-lifestyle","tag-millionaires","tag-monaco","tag-personal-finance","tag-switzerland","tag-taxes","tag-u-k","tag-uae","tag-wealth"],"yoast_head":"\nBillionaires have left the U.K. and taken $160 billion to Monaco, Switzerland, and the UAE - Finance News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vaultinsider.top\/?p=6203\" \/>\n<meta property=\"og:locale\" content=\"zh_CN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Billionaires have left the U.K. and taken $160 billion to Monaco, Switzerland, and the UAE - 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