The UK billionaires declare ‘Britain has gone to hell,’ lists $ 337m London Estate on sale and goes to Dubai. world News

A £ 13.7 billion depart: Why John Fredricsen overtook London

The United Kingdom is losing millionaires and billionaires at a record speed, and now, one of its most high-profile residents has joined the migration. John Fredricasen, once the ninth-rich man of Britain, has left London, has closed the major business operations, and kept its prized Chelsey Haveli, Old rectangle, For sale for a shocking £ 250 million (₹ 2,911.5 crore)/($ 337 million). Trigger? A broad overhaul of Britain’s tax policy targeting the global elite. In a blunt interview earlier this month with Norwegian Business Outlet E24Fredricasen did not see words:“Britain has gone to hell like Norway,” he said. “The whole western world is going down.” At the age of 81, John Fredricsen is one of the world’s most impressive shipping magnets. Born in Oslo and now a Cyprite National, he created his vast empire in oil tankers during the 1980s Iran-Eraq War. For decades, they expanded to offshore drilling, LNG shipping, dry bulk, gas and aquaculture. Fredricasen first left Norway on his aggressive rule in 1978 and settled in Britain, where he was long seen as a calm but combined appearance in London’s business circles. In 2001, he bought Old rectoryChelsea for 30,000 square feet Georgian jagir, £ 37 million () 431 crore). Property, including 10 bedrooms, a ballroom and two acres of private gardens, has become one of the most valuable homes in the UK. He discontinued an offer of £ 100 million () 1,165 crore) from Roman Abramovich in 2004. As ForbesFredricasen was recently replaced the 136th richest man in the world with an estimated net price of $ 17.3 billion (₹ 1,44,355 crore).

Why is he leaving: ‘Non-Dome’ era end

Fredric’s exit was set at speed earlier this year, when the UK Labor government abolished the status of non-dominant (non-DOM) tax, a historic tax system was back dating back in 1799. Niti had long allowed rich foreigners who have been in UK to pay only taxes on their British income, adapting the offshore earnings. But in April 2025, under Chancellor Rachel Reves, the non-dome policy was abolished. Also other tax hikes came:

For global billionaires with complex financial footprints such as Fredricsen, it marked a turn.,[The UK is] Norway begins to remind me more and more, “Fredricasen told E24.” People should get up and do more work, and should go to the office instead of having home offices. ,Shortly thereafter, he closed the London headquarters of the seatsman management, one of his personal shipping firms. In report Forbes Said that more than a dozen domestic workers were allowed to go through their Chelsea Estate.

The Haveli: Putting a landmark of £ 250 million on the market

Fredricasen’s property, Old rectangle, There is no house just. Built in the 1720s, it was once belonging to the rector of Chelsea Parish Church. After a complete renewal in the 1990s, it was bought by Greek Shipping Magnet Theodore Angelopolos in 1995 for £ 22 million. Fredricasen achieved this for £ 37 million (431 crore) after six years. Now, two decades later, it is being quietly purchased by ultra-rich buyers with a price of £ 250 million (₹ 2,911.5 crore). If sold at that price, it will be one of the most expensive private residential sales in the history of Britain.

He is not alone: drain of wealth from Britain

Fredricasen’s move is not a separate case. According to Henley & Partners, a global citizen’s advisory firm:

According to The Telegraph, other billionaires who have already left, or are preparing include:

According to The Sunday Times Rich List, Britain now has 156 billionaires, below 165 in 2024, the fastest decline in the 37 -year history of the list.

Why UAE? A new magnet for global money

Fredricasen’s new base, the United Arab Emirates, exceeds only one tax-friendly destination. It is now one of the fastest growing wealth hub in the world. According to Henley and Partners:

This development ranks second only for Montenegro, which increased by 124%in the millionaire population, followed by Malta (87%), the United States (87%), and China (74%).

For billionaires such as Fredricasen, Dubai provides a full-service platform to run a global enterprise with low political and regulatory obstacles. And socially, the city is now home to the rich ecosystem of financers, tech founders, luxury developers and shipping magnets. Fredricasen, who is now spending most of his time in the United Arab Emirates, is allegedly preparing to hand over more control of his empire to his twin daughters, Sesili and Cathrin Fredricsen, both already serve on boards of many family companies. Is this infection a new chapter for the Fredricasen Empire or the broad rewriting of aristocratic capital flow, one thing is clear: Dubai is growing, and London is watching.FAQS: Q. Why is John Fredricasen leaving the UK? Due to the end of the non-dome tax status and the new tax burden initiated by the labor government.Q. Where is he going? In Dubai in the United Arab Emirates, where he plans to oversee his global trade empire.Q. What is happening to his UK property? He is selling the old reaction in Chelsea for £ 250 million, one of the most expensive houses in Britain.Q. Why did he choose Dubai? Dubai offers zero income tax, investor-friendly policies and rapidly growing hubs for global wealth and business.