London's Wealth Exodus: in 2023, the UK lost around 12,500 more high-net-worth individuals (HNWls)
In 2023, the UK lost around 12,500 more high-net-worth individuals (HNWls). Their favorite destinations were Dubai, Los Angeles, the Bay Area, New York, Monaco, Amsterdam, and Paris.
The global conversation around wealth taxation has reached an inflection point. 2024’s G20 discussions in Rio de Janeiro signal a fundamental shift in how nations approach the taxation of substantial private wealth.
The recent wealth tax increase in Norway was expected to bring an additional $146M in yearly tax revenue. Instead, individuals worth $54B left the country, leading to a lost $594M in yearly wealth tax revenue. A net decrease of $448M+
France just announced they will include Bitcoin as a taxable asset under the wealth tax, which means that French residents will pay taxes on the unrealized capital gains of their Bitcoin.