Billionaire David Reuben Leaves UK for Monaco as Non-Dom Tax Exodus Accelerates

Property tycoon David Reuben, reportedly worth £9.9 billion, has moved to Monaco, becoming the latest billionaire to exit Britain following Labour's scrapping of the non-dom tax regime. His departure during the summer of 2026 was first reported by The Sunday Times. Monaco levies no tax on income, capital gains or inheritances, unlike the UK, where overseas income is now taxable under reforms announced by former chancellor Rachel Reeves. Reuben joins departing billionaires including Chris Rokos, Lakshmi Mittal, Nassef Sawiris and John Fredriksen. Foreign Investors for Britain's Leslie MacLeod-Miller called the trend an "exodus," urging Chancellor John Healey to rule out wealth and exit taxes and introduce a global investor visa. Sir Martin Sorrell separately warned the regime risks driving away entrepreneurial talent. The Reuben brothers jointly control a global property empire and redeveloped London landmarks including Millbank Tower and Burlington Arcade.