Part 3/11:
He notes that every day brings headlines about new taxes, regulatory clampdowns, and efforts to squeeze the rich—measures that deter investment and diminish the country’s appeal as a place to build wealth. For example, Mr. Steronsky, a self-made Russian-born entrepreneur who created a company valued at $75 billion, decided that the UK’s environment was no longer conducive to his needs.
The Exodus of Wealthy Entrepreneurs
Steronsky’s move to Dubai marks a notable departure from the British scene, which used to attract global talent and investment. The Telegraph reports that his relocation is part of a growing exodus of wealthy entrepreneurs fleeing the UK, along with professionals from various sectors—from plumbers to billionaires.