This exodus follows the elimination of the non-dom tax regime and tax hikes introduced by the Labour government. Henley projections estimate a net outflow of 16,500 millionaires from the UK in 2025, which would be the largest such decline in the world. The government presents its Budget in 3 weeks.
Tuesday, October 20, 2026
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UK Loses More Billionaire Wealth in 2 Years Than Remains
Global Markets15 days ago
A massive exit of high-net-worth individuals has created a $160 billion hole in the United Kingdom's capital, endangering London's reputation as a global financial powerhouse. Analysis indicates that the amount of wealth taken by billionaires fleeing the country over the last 2 years now exceeds the total amount of billionaire wealth that remains in the UK. Wealthy figures such as Lakshmi Mittal and Chris Rokos are among those moving their capital abroad.
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