Business & Economy · 7 views
A $13 billion property mogul is the latest to flee Britain’s new taxes for Monaco, a warning sign as California votes on a billionaire tax
David Reuben's move to Monaco follows a wave of departures since the U.K. scrapped its non-dom regime—and offers a preview of the fight California voters are deciding with Proposition 40.
AI Summary
David Reuben, an 88‑year‑old property magnate who ranks second on the Sunday Times Rich List alongside his brother Simon, has relocated from his Holland Park residence to Monaco. A spokesperson for the brothers confirmed the move, which was first reported by The Times. Monaco is described as a long‑standing tax haven that attracts London’s ultra‑wealthy seeking to shield assets from UK Treasury taxes.
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