<p>A large number of millionaires have left London in the past few years, a new study has revealed. London, only second to Moscow in terms of exodus of the super-wealthy, saw millionaires worth $11,300 leave the city in just 12 months.</p><p>According to a report by <em>Evening Standard</em>, the numbers include 18 people with a net worth of $100 million or more (£78 million) — and two billionaires.</p><p>Listing out the reasons behind the rich people exodus, the study, which was conducted for migration consultancy Henley & Partners by intelligence firm New World Wealth, said that tax rises under the Conservative and Labour governments, failure to recover from the 2008 recession, economic uncertainty following Brexit and the fall in the value of the pound could have caused the phenomenon. </p><p>It is noteworthy that the study was conducted before the Stock Market crash caused by the recent trade tariff rollout by US President <a href="https://www.deccanherald.com/tags/donald-trump">Donald Trump. </a></p>.India should offer US limited zero-to-zero tariff deal: GTRI amid Trump's pause.<p>The study defines wealth as “liquid investable” assets, which includes cash, bonds and shares but excludes property.</p><p>There are only two cities--London and Moscow-- in the top 50 list which have fewer rich individuals than a decade ago. While London has lost 12 per cent of its wealthiest residents since 2014, Moscow has lost 25 per cent.</p><p>London now has 215,700 millionaires. </p><p>When compared in absolute terms, London has lost more millionaires than any other city, with about 30,000 departing the city over the past ten years, compared with 10,000 fleeing Moscow.</p><p>The reasons behind wealthy individuals leaving Moscow are more apparent-- sanctions from western countries and political instability in Russia following Vladimir Putin's invasion of Ukraine. </p>
<p>A large number of millionaires have left London in the past few years, a new study has revealed. London, only second to Moscow in terms of exodus of the super-wealthy, saw millionaires worth $11,300 leave the city in just 12 months.</p><p>According to a report by <em>Evening Standard</em>, the numbers include 18 people with a net worth of $100 million or more (£78 million) — and two billionaires.</p><p>Listing out the reasons behind the rich people exodus, the study, which was conducted for migration consultancy Henley & Partners by intelligence firm New World Wealth, said that tax rises under the Conservative and Labour governments, failure to recover from the 2008 recession, economic uncertainty following Brexit and the fall in the value of the pound could have caused the phenomenon. </p><p>It is noteworthy that the study was conducted before the Stock Market crash caused by the recent trade tariff rollout by US President <a href="https://www.deccanherald.com/tags/donald-trump">Donald Trump. </a></p>.India should offer US limited zero-to-zero tariff deal: GTRI amid Trump's pause.<p>The study defines wealth as “liquid investable” assets, which includes cash, bonds and shares but excludes property.</p><p>There are only two cities--London and Moscow-- in the top 50 list which have fewer rich individuals than a decade ago. While London has lost 12 per cent of its wealthiest residents since 2014, Moscow has lost 25 per cent.</p><p>London now has 215,700 millionaires. </p><p>When compared in absolute terms, London has lost more millionaires than any other city, with about 30,000 departing the city over the past ten years, compared with 10,000 fleeing Moscow.</p><p>The reasons behind wealthy individuals leaving Moscow are more apparent-- sanctions from western countries and political instability in Russia following Vladimir Putin's invasion of Ukraine. </p>
