Media reporting widely blamed the alleged millionaire exodus on tax policies in the same year that calls for a wealth tax on the super-rich gained unprecedented momentum globally. The media reporting was equivalent to 30 news pieces a day on the “non-existent” millionaire exodus across 2024. In the case of the UK, the ‘millionaires’ identified by the report represent just a fifth (20%) of the UK millionaire population. In 2021, Henley described 2,000 millionaires leaving the UK as “insignificant” but in 2023 described 1,500 millionaires leaving the UK an “exodus”. It is co-published with Patriotic Millionaires UK and Tax Justice UK.

Source: The Times June 10, 2025 16:34 UTC