British Billionaire Brothers Relocate to Monaco Amid UK Wealth Exodus

[RuamRudy]

5 minutes ago, Bkk Brian said:

There you go again, first you accuse them of being  people who should not be admired. 

 

 

 

 

To suggest someone should not be admired is not an accusation. It is a personal belief in what is and what is not admirable.

 

6 minutes ago, Bkk Brian said:

Greed is not a pleasant trait. despite evidence to the contrary

 

What evidence are you suggesting implies that greed IS a pleasant trait?

 

7 minutes ago, Bkk Brian said:

I suggest you read the OP and the related articles:

 

 

I did read the OP and I am aware that people are fleeing the prospect of making a slightly smaller return on their already massive wealth. I stand by my original statement that if I was unimaginably wealthy, I do not think I would worry too much about its growth decelerating slightly because the government imposed a new tax regime.

 

I note that you have no comment to make on the multiple articles highlighting how the ultra rich abuse charity laws to further enrich themselves. Are you still convinced that these are the good guys?

[Jerzy Swirski]

4 hours ago, Social Media said:

 

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British Billionaire Brothers Relocate to Monaco Amid UK Wealth Exodus

 

Two of Britain’s wealthiest real estate investors, Ian and Richard Livingstone, have officially left the UK, marking another high-profile departure among the country's elite as new tax hikes target the wealthy. The billionaire brothers, founders of the property firm London & Regional, now list Monaco as their place of usual residency, a change noted in recent registry filings. Previously, they had cited the UK as their primary residence.

 

Their decision strengthens their long-standing connection to the glamorous French Riviera city-state, where they have maintained significant investments for over a decade. The switch took effect between late March and early April, according to the filings, coinciding with sweeping tax changes introduced by Keir Starmer’s Labour government. These changes, announced during the UK’s Autumn Budget in October, included restrictions on relief for inherited assets and increased levies on capital gains and private equity investments.

 

A representative for Ian, 62, and Richard, 60, declined to comment on the move. According to the Bloomberg Billionaires Index, the brothers’ combined fortune stands at around $8.5 billion.

 

 

 

The Livingstones’ relocation highlights a growing trend among wealthy individuals severing ties with Britain. Ultra-rich foreign nationals such as Egypt’s Nassef Sawiris and Belgium’s Frederic de Mevius have also been distancing themselves from the UK in response to a flurry of financial policy changes. Traditionally known for its legal and political stability, Britain had long been a magnet for global wealth. However, its reputation has been eroded since Brexit and the rapid turnover of prime ministers since 2016.

 

The government has repeatedly tightened the rules for affluent residents, including the removal of inheritance tax breaks for overseas trusts. These measures are part of Chancellor Rachel Reeves’s strategy to address what she described as a £40 billion ($53 billion) economic shortfall. Monaco remains a preferred destination for those exiting Britain’s increasingly unfriendly fiscal environment. In the UK, the top 1% of earners typically contribute more than a quarter of all income taxes, whereas Monaco offers significant tax advantages, including no taxes on capital gains or income and substantial exemptions for inherited assets. It also boasts high levels of personal safety compared to many other European territories.

 

The Livingstone brothers join other British billionaires like Jim Ratcliffe, founder of chemicals giant Ineos, who relocated to Monaco around 2018, motivated partly by the threat posed by then-Labour leader Jeremy Corbyn’s policies.

 

Growing up in London as the sons of a dentist, Ian and Richard Livingstone began amassing their real estate fortune in the 1990s by acquiring distressed properties following a sharp decline in UK real estate prices. Ian, who originally studied optometry, also founded an eyewear business that expanded to more than 200 stores before he sold his stake to Leonardo Del Vecchio’s Luxottica Group in 2010.

 

Today, London & Regional’s expansive property portfolio includes assets such as London cinemas, office spaces in Madrid, and the Fairmont Monte Carlo, a four-star hotel in Monaco they purchased in 2007. Beyond business, their philanthropic foundations have actively supported initiatives for UK children, British fashion, and London educational institutions.

 

Related Topics:

London’s Wealth Exodus: Capital Falls from Top Five Richest Cities as Millionaires Depart

UK Exodus of Millionaires Highlights Concerns Over Labour’s Tax Policies

 

  Adpated by ASEAN Now from Bloomberg  2025-04-28

 

 

Is the caption incorrect?

Because one of the brothers looks quite nice to me

[Bkk Brian]

8 minutes ago, RuamRudy said:

 

To suggest someone should not be admired is not an accusation. It is a personal belief in what is and what is not admirable.

 

 

What evidence are you suggesting implies that greed IS a pleasant trait?

 

 

I did read the OP and I am aware that people are fleeing the prospect of making a slightly smaller return on their already massive wealth. I stand by my original statement that if I was unimaginably wealthy, I do not think I would worry too much about its growth decelerating slightly because the government imposed a new tax regime.

 

I note that you have no comment to make on the multiple articles highlighting how the ultra rich abuse charity laws to further enrich themselves. Are you still convinced that these are the good guys?

Why would I make a comment on articles that you are trying to link them to without a shred of evidence. I reply on facts not your speculation and false  accusations. I mean, you already claim I idolize them...........

[Trippy]

 

[James105]

14 minutes ago, RuamRudy said:

 

To suggest someone should not be admired is not an accusation. It is a personal belief in what is and what is not admirable.

 

 

What evidence are you suggesting implies that greed IS a pleasant trait?

 

 

I did read the OP and I am aware that people are fleeing the prospect of making a slightly smaller return on their already massive wealth. I stand by my original statement that if I was unimaginably wealthy, I do not think I would worry too much about its growth decelerating slightly because the government imposed a new tax regime.

 

I note that you have no comment to make on the multiple articles highlighting how the ultra rich abuse charity laws to further enrich themselves. Are you still convinced that these are the good guys?

 

Are you suggesting that the current government knows better how to spend their money than they do?  The same government that is spaffing away £50m on dimming the sun which is Canute levels of stupidity?  Or £2bn on capturing carbon from the sea?  Of spaffing £8n on "GB energy"?  

 

People who have money have it as they didn't spaff it all away on hare-brained schemes like the current morons who seem to think they are in charge of wasting other peoples money as fast and stupidly as they can, thinking they can just keep going back to the golden goose over and over again without consequence.  

[Ralf001]

4 hours ago, Social Media said:

 

---

 

 

Two of Britain’s wealthiest real estate investors, Ian and Richard

 

Richard in on the right ?

[Chomper Higgot]

2 hours ago, Bkk Brian said:

You didn't read the OP then, the increased levy in capital gains? They earn and work at those those assets and paid a huge amount of tax on them. How on earth does this need explaining to you?

 

Money earned in the UK is taxed in the UK.

 

How has that fact evaded you?

 

[Bkk Brian]

58 minutes ago, Chomper Higgot said:

Money earned in the UK is taxed in the UK.

 

How has that fact evaded you?

 

Read my post again. Obviously any physical work they did for their companies while living in the UK will no longer apply as they will not be doing it anymore!

 

No facts have evaded me, how about you?

 

If you live or work outside the UK for much of the time, you may no longer have to pay as much UK tax. Learn everything you need to know about expat taxes below.

https://www.unbiased.co.uk/discover/tax-business/self-assessment/expatriate-taxes

 

Thats without even mentioning all the other benifits including capital gains etc

[FlorC]

Daughter or thophy wife ?

 

[FlorC]

This is not new.

Remember in the 80's britsh artists fled the UK for tax reasons?

 

When the Stones, Rod Stewart and David Bowie Ran From the Taxman (ultimateclassicrock.com)

UK Rock Stars Who Dodge Taxes Being Outed | Alan Cross (ajournalofmusicalthings.com)

 

 

[Purdey]

No one can blame anyone for moving home if that person wants to. Don't like the British weather? Move to Thailand. 

Don't like British taxes? Move to France.

Was it the 70s when Elton John, the Rolling Stones and others moved abroad due to high taxes? The tax rate went down a few years later.

[Will B Good]

Gutted.....i won't sleep tonight.

[Will B Good]

2 hours ago, Jerzy Swirski said:

Is the caption incorrect?

Because one of the brothers looks quite nice to me

 

Too much time spent in Thailand maybe....555

[Will B Good]

1 hour ago, Bkk Brian said:

Read my post again. Obviously any physical work they did for their companies while living in the UK will no longer apply as they will not be doing it anymore!

 

No facts have evaded me, how about you?

 

If you live or work outside the UK for much of the time, you may no longer have to pay as much UK tax. Learn everything you need to know about expat taxes below.

https://www.unbiased.co.uk/discover/tax-business/self-assessment/expatriate-taxes

 

Thats without even mentioning all the other benifits including capital gains etc

 

If a UK citizen becomes a non-resident of the UK they will still need to pay UK tax on income earned in the UK.

 

The absence of a DTA with Monaco means that there is no automatic relief from UK tax on foreign income, but if they do become non-resident in the UK they might avoid UK tax being imposed on their foreign earnings.

[Magictoad]

Yes. This a common phenomenon with, apparently ten thousand millionaires driven out by the current socialist government. It's not just rich people who are being over- taxed. It's ordinary people. Fleeing to places like this to get from the hellish government that is now ruling once Great Britain  certainly not the united kingdom. Never has the the nation been so so spit up.

[Bkk Brian]

5 minutes ago, Will B Good said:

 

If a UK citizen becomes a non-resident of the UK they will still need to pay UK tax on income earned in the UK.

 

The absence of a DTA with Monaco means that there is no automatic relief from UK tax on foreign income, but if they do become non-resident in the UK they might avoid UK tax being imposed on their foreign earnings.

If a UK citizen becomes a non-resident of the UK they will still need to pay UK tax on income earned in the UK.

 

Why are you telling me something that was not disputed by me?

[Will B Good]

1 minute ago, Bkk Brian said:

Why are you telling me something that was not disputed by me?

If you live or work outside the UK for much of the time, you may no longer have to pay as much UK tax......why would you pay less UK tax? 

 

I was responding to that statement.

[Bkk Brian]

Just now, Will B Good said:

If you live or work outside the UK for much of the time, you may no longer have to pay as much UK tax......why would you pay less UK tax? 

 

I was responding to that statement.

Read the link. It was a quote from tax advisors

[Chomper Higgot]

3 hours ago, James105 said:

 

Are you suggesting that the current government knows better how to spend their money than they do?  The same government that is spaffing away £50m on dimming the sun which is Canute levels of stupidity?  Or £2bn on capturing carbon from the sea?  Of spaffing £8n on "GB energy"?  

 

People who have money have it as they didn't spaff it all away on hare-brained schemes like the current morons who seem to think they are in charge of wasting other peoples money as fast and stupidly as they can, thinking they can just keep going back to the golden goose over and over again without consequence.  

Taxation isn’t based upon who anybody thinks makes better use of the money.

[Chomper Higgot]

It would be interesting to know what portion of the Livingstone’s income in rents is derived from welfare payments to their tenants.

 

 

[coolcarer]

Spitting their dummies out lol

 

The Guardian getting it about as wrong as is possible with one of their many useless predictions. This one from around 6 months ago.

 

The super-rich claim they’ll flee to escape a Labour ‘tax grab’.

Would they really flee? History is the best guide. This same old threat is always levelled over any check on the soaring wealth of the richest in Britain, but research shows that rich people rarely follow through. An LSE report published in January, Tax Flight? Britain’s Wealthiest and Their Attachment to Place, strongly suggests they are going nowhere. On surveying those in the top 1%, it found none actually planning to migrate. After all, the top 1% have no reason to complain after doing astoundingly well since 2010.

https://www.theguardian.com/commentisfree/2024/oct/11/super-rich-flee-britain-labour-tax-grab-exit

[Nick Carter icp]

7 hours ago, RuamRudy said:

 but being so parsimonious 

 

   I had to look that word up and I found it to be quite funny that a Scotsman knew the meaning of that word 🙂

[DonniePeverley]

The legal loop holes that allow tax havens is a disgrace ... the top brass allow it. 

 

The UK should toughen up the laws by saying if you leave, you can't keep dual citizenship, a time limit on how long you can stay in the UK - no more than 30 days. 

[Chomper Higgot]

28 minutes ago, DonniePeverley said:

The legal loop holes that allow tax havens is a disgrace ... the top brass allow it. 

 

The UK should toughen up the laws by saying if you leave, you can't keep dual citizenship, a time limit on how long you can stay in the UK - no more than 30 days. 

The Livingstone brothers held ‘Non-Dom’ tax status, something that was established to address the taxation of foreign nationals moving to the UK while holding assets and in receipt of income overseas.

 

British citizens, born and living in the UK holding £billions worth of assets in the UK from which they were deriving income yet having  ‘non-Dom’ tax status is obviously ridiculous and unjust.

 

’The Top Brass’ don’t ’allow’ the tax laws have been written in their favour.

 

Addressing abuse of the ‘non-Dom’ tax regulations was already an issue under the last Government, Labour are very right to continue to close these tax loopholes.

 

The first thing to address is limit the amount anyone can pay to UK Political parties and put an end to anyone not resident in the UK donating to UK Political parties.

 

A maximum of perhaps £1000 per year would remove the ability of the rich to buy political favours.

 

 

[James105]

1 hour ago, Chomper Higgot said:

Taxation isn’t based upon who anybody thinks makes better use of the money.

 

Yes but the point of this article is that the wealthy are leaving the UK and will contribute less or nothing to the tax system based on the moronic policies of the morons in government.   Seeing as the top 1% contribute 30% of the UKs tax revenue and the bottom 50% of people actually paying tax contribute 10% (note that doesn't include welfare claimants who contribute nothing of course), then really they should listen when the top one 1% vote with their feet and cease to contribute.  

 

Anyway, I'm going to set up a fund that "leftists who celebrate millionaires leaving the UK" can contribute to which will help make up for the shortfall.  This way the the government can continue to spaff away the money on nonsense like dimming the sun in one of least sunny countries in the world.  It needs to raise £1bn based on the 10% loss of capital gains since Rachel from accounts announced the capital gains tax increase.  How much can I put you down for?  

[Chomper Higgot]

3 minutes ago, James105 said:

 

Yes but the point of this article is that the wealthy are leaving the UK and will contribute less or nothing to the tax system based on the moronic policies of the morons in government.   Seeing as the top 1% contribute 30% of the UKs tax revenue and the bottom 50% of people actually paying tax contribute 10% (note that doesn't include welfare claimants who contribute nothing of course), then really they should listen when the top one 1% vote with their feet and cease to contribute.  

 

Anyway, I'm going to set up a fund that "leftists who celebrate millionaires leaving the UK" can contribute to which will help make up for the shortfall.  This way the the government can continue to spaff away the money on nonsense like dimming the sun in one of least sunny countries in the world.  It needs to raise £1bn based on the 10% loss of capital gains since Rachel from accounts announced the capital gains tax increase.  How much can I put you down for?  

I’m sure the hyper wealthy appreciate you fighting for their corner.

[coolcarer]

26 minutes ago, Chomper Higgot said:

The Livingstone brothers held ‘Non-Dom’ tax status, something that was established to address the taxation of foreign nationals moving to the UK while holding assets and in receipt of income overseas.

 

British citizens, born and living in the UK holding £billions worth of assets in the UK from which they were deriving income yet having  ‘non-Dom’ tax status is obviously ridiculous and unjust.

 

’The Top Brass’ don’t ’allow’ the tax laws have been written in their favour.

 

Addressing abuse of the ‘non-Dom’ tax regulations was already an issue under the last Government, Labour are very right to continue to close these tax loopholes.

 

The first thing to address is limit the amount anyone can pay to UK Political parties and put an end to anyone not resident in the UK donating to UK Political parties.

 

A maximum of perhaps £1000 per year would remove the ability of the rich to buy political favours.

 

 

You're missing the point entirely here Chomper, this was from 4 months ago

 

UK’s millionaire exodus equal to losing 530,000 average taxpayers, study says

Britain’s exodus of millionaires last year was as damaging as the UK losing half a million taxpayers, a study has claimed.
The country lost 10,800 millionaires to foreign countries last year, more than double the number who left in 2023. It means that, since Labour came to power, one millionaire left the UK every 45 minutes. The exodus was sparked by Labour’s tax raids on private schools and non-doms as well as a general collapse in business confidence after Rachel Reeves’ October Budget.

https://uk.news.yahoo.com/uk-millionaire-exodus-equal-losing-080114815.html

[BangkokReady]

So, where's all the money going?  It certainly isn't going to any poor people!

[Chomper Higgot]

24 minutes ago, BangkokReady said:

So, where's all the money going?  It certainly isn't going to any poor people!

The Livingstones are heavily into the buy to let and gambling businesses, the money is definitely flowing from the poor to the Livingstones.

[Nid_Noi]

3 hours ago, Magictoad said:

Yes. This a common phenomenon with, apparently ten thousand millionaires driven out by the current socialist government. It's not just rich people who are being over- taxed. It's ordinary people. Fleeing to places like this to get from the hellish government that is now ruling once Great Britain  certainly not the united kingdom. Never has the the nation been so so spit up.

Maybe have you forgotten the disastrous years the UK went through under Wilson and Callaghan regimes in the 70’s. The country was bankrupt and the exodus at its peak not only wealthy people but middle class citizens.

The kingdom was saved by the Iron Lady. Where do you find one these days?