London is no longer one of the top five wealthiest cities in the world after losing more millionaires than anywhere else, including Moscow. The Times has more.
An annual report on global wealth says the UK’s capital has lost 11,300 dollar millionaires over the past year, including 18 centimillionaires and two billionaires. A centimillionaire is someone who has at least $100 million, while a billionaire has more than $1,000 million.
The study, conducted for the advisory firm Henley & Partners by New World Wealth, defines wealth as ‘liquid investable’ assets, which means cash, bonds and shares but excludes property wealth.
The assessment was conducted before the recent stock market falls that followed the announcement of Donald Trump’s tariffs.
New World Wealth said that London, which now has 215,700 dollar millionaires, is one of only two cities in the top 50 — the other being Moscow — that has fewer rich people than 10 years ago. Even Paris has seen a rise in the number of millionaires, with a 5% increase over the period.
In total, London has lost 12% of its richest residents since 2014, with the decline being attributed to tax increases, Brexit and the fall in the value of the pound, while Moscow has lost 25%, mostly because of Vladimir Putin’s invasion of Ukraine in 2022.
However, in absolute terms, London has lost more millionaires than anywhere else, with about 30,000 heading for the exit over the past ten years, compared with 10,000 fleeing Moscow.
Last week the Times reported how the exodus of wealth from the UK had accelerated sharply in the first three months of the year before Labour’s abolition of the non-domiciled tax regime.
Worth reading in full.
Stop Press: Matthew Lynn has compiled a rundown of ‘How Labour killed London: in five charts’: “From a stagnating economy to rising crime, our capital city is in crisis.”
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Anything that gives the Kimono Clad Baseball Bat wielding Fox Killer a poke in the eye is ok with me
What! Me no understand!
Chicken coop, fox, JM in kimono + baseball bat, ex-fox.
He does seem to be better at gouging people than Law. I read that his success rate is through the floor.
Given this judgement has considerable implications for charities across the board, LGBA’s CrowdJustice link here –
https://www.crowdjustice.com/case/save-lgb-alliances-charity-sta/
Be warned – there’s also a Crowdjustice fundraiser for Mermaids with the (probably deliberately) dissembling title ‘Appeal LGB Alliance’s charity status’. Creeps.
It would be interesting to know whether ‘Mermaids’ now has to pay LGBA’s legal costs.
Maybe kimono-boy could sell his windmill.
This is the sort of problem you get when you allow lobby groups to have charitable status. On the TV news last night there was the Welsh head of a children’s charity saying that the government should bail out parents over the summer. When asked by the presenter what parents could do she said that they could approach other charities for actual help. Nothing to do with her, guv.
Charities are popping up like popcorn representing areas such as trans and more. I can’t see anything remotely charitable about them though. They are enablers of ideologies flying under the radar and getting quite a bit of the public money’s to undermine that same public. They are effectively lobbying groups with financial benefits.
Not much into any of the details in this story as I’m sure many wouldn’t be, except, when I here the chant “we’re here, we’re queer, and we’re coming for your children”
Then it’s time for responsible gays to pick a side, because that is a hill I will die on!
Language is a beautiful thing — trans charity, organization which claims to be charitable despite it certainly isn’t.