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Nearly half of UK’s wealthiest financiers are foreign born, says Wealth-X

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Nine out of the UK’s 20 wealthiest financiers were born outside the country, according to a new list published by ultra-high net worth business development specialist Wealth-X.

The total wealth of the financiers in the list exceeds USD27bn, and foreign born ultra-high net worth individuals (UHNWIs) constitute 66 per cent of that total.
 
Russian oligarch Roman Abramovich (pictured) heads the list with a net worth of USD12bn. The owner of Millhouse Capital UK has properties in several countries but spends a substantial amount of time in the UK.
 
"This reaffirms London as an attractive, premier way-station for the world’s ultra affluent," says Patric Marshall, Wealth-X’s managing director for Europe. "Despite being born in another country, the wealthiest financiers have chosen to build their financial empires in the UK, not New York, Hong Kong or Singapore."
 
Of note is the UK’s non-domicile policy that deems someone a resident if they spend 183 days in a tax year or 90 days on average over four years, a move London stands to benefit from as the ultra-wealthy spend more time in the UK.
 
Wealth-X chief executive Mykolas Rambus says: "The high number of foreign born financiers stands out in this list. This presents professionals in the banking, non-profit and luxury sectors with vast opportunities to engage these ultra-wealthy individuals."

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