London’s Wealthy Continue to Flee as Taxes Target Uber-Rich

The city, once considered the financial capital of the world, is still seeing high net worth individuals leave for new pastures.

The City of London on March 19, 2021. Henry Nicholls/Reuters

The flight of high-net-worth individuals from the UK is continuing apace as millionaires and billionaires swap London for more attractive destinations around the world. 

A recent high-profile person to announce his departure from Britain was billionaire John Fredriksen, who stated in July that he will now spend the bulk of his time in the United Arab Emirates.