Britain has lost more billionaires than any country in the world over the past two years, with more expected to flee abroad if a wealth tax is introduced.
Analysis suggest the UK lost a quarter of its dollar-billionaires over the course of 2023 and 2024.
The research, by New World Wealth, does not identify who left but it is known that Asif Aziz, the billionaire property mogul, relocated during this time.
The Malawi-born owner of the Trocadero leisure complex at Piccadilly Circus, moved his tax residency to Abu Dhabi at the end of last year, driven by new tax rules.
Chancellor Rachel Reeves extended the Tory's crackdown on non-domiciled residents by removing the tax perk in her October budget.
She also announced that British inheritance tax (IHT) would apply to global assets of wealthy individuals who have lived in the UK for more than ten years.
Read the full story in The Times.