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Britain is experiencing an exodus of the wealthy as tax reforms push ultra‑rich residents to relocate. Lakshmi Mittal, India‑born steel tycoon worth nearly $20 billion, has moved his tax residence to Switzerland and plans to spend more time in Dubai. His departure signals wider alarm among the elite: the rich list dropped from 165 to 156 billionaires, the steepest fall in 37 years. A record 142,000 millionaires are expected to leave the UK this year. With reforms targeting non‑dom status, exit taxes and greater scrutiny, the British dream for global capital is unravelling.

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