‘I reside in Monaco’: billionaire said to have quit UK over potential wealth tax had already left
Reports that billionaire David Reuben moved to Monaco to avoid potential UK wealth taxes have been challenged by evidence suggesting he has been a resident there for a decade. TaxWatch and other sources indicate the narrative of a sudden 'super-rich exodus' may be exaggerated.
Why it matters
The story highlights the tension between government tax policy and the mobility of high-net-worth individuals, as well as the role of media narratives in political discourse.
David Reuben, right (seen in 2015), was said to have joined his brother Simon, left, full-time in Monaco because of potential taxes on wealth in the upcoming budget. David Reuben, right (seen in 2015), was said to have joined his brother Simon, left, full-time in Monaco because of potential taxes on wealth in the upcoming budget. Tax and spending ‘I reside in Monaco’: billionaire said to have quit UK over potential wealth tax had already left TaxWatch contradicts claims about David Reuben’s departure and questions stories of super-rich exodus
Apparent exodus of super-rich suggests UK is no longer billionaires’ playground
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