Overview
- The reported relocation comes days before Chancellor Rachel Reeves’s Budget, which press accounts say could include further measures targeting the wealthy.
- An adviser quoted by The Sunday Times said income and capital gains were not the issue, identifying inheritance tax on worldwide assets as the tipping point.
- Mittal owns a mansion in Dubai and has been buying plots on Naïa Island, with reports saying he will spend much of his time in the UAE.
- He is expected to retain his London properties, including the Kensington Palace Gardens estate known as the Taj Mittal, with no immediate plans to sell.
- The Sunday Times Rich List values his fortune at about £15.4 billion, and coverage frames his move as part of a broader pattern that includes figures such as Nik Storonsky and Herman Narula.