Hedge fund billionaire Chris Rokos joins UK wealth exodus
The hedge fund billionaire Chris Rokos has joined the ranks of ultra-wealthy residents in leaving the UK, in a decision likely to cost the government billions of pounds lost tax revenue. Rokos, the founder of his namesake investment firm Rokos Capital Management who paid more than £300m in tax last year alone, is leaving the [...]
Chris Rokos, a hedge fund billionaire and founder of Rokos Capital Management, has left the UK for Greece, joining a list of wealthy individuals opting to abandon the country. Rokos, who paid over £300 million in tax last year, is following in the footsteps of other billionaires and centimillionaires, such as Richard Gnodde, Nassef Sawiris, Guillaume Pousaz, and Lakshmi Mittal, who have also departed due to the UK government's crackdown on non-dom status.
The Labour government, in office since 2024, has faced criticism from top City investors over its tax policies, which have allegedly led to a wealth exodus. The government has implemented several tax hikes, including the end of the non-dom regime, a VAT exemption on private schools, increased capital gains tax rates, and a plan to impose a new levy on mansions.
Despite this, Labour MPs have endorsed a wealth tax, proposing a two percent annual levy on assets valued at £10 million. Tax experts warn that a wealth tax could deter investment and result in lost revenue. The Treasury has declined to comment on Rokos' departure.
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