Hedge fund tycoon who paid £330million in tax last year quits UK amid exodus of wealthy under Labour
A hedge fund tycoon who paid £330m in tax last year is joining the exodus of billionaires from Labour's Britain.
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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