Source: Slate, May 11
London is the world’s super-rich capital of the world, according to a survey carried out by the Sunday Times. The British capital has 72 residents whose wealth is higher than £1 billion ($1.6 billion) – ahead of Moscow’s 48, New York’s 43 and San Francisco’s 42. The number of billionaires living in Britain as a whole has crossed the 100 mark for the first time after more than tripling from a decade ago, according to Sky News. With 104 billionaires, the United Kingdom now has more billionaires per capita than any other country. And most of them were born abroad, which shows how the British capital lures some of the richest in the world.
Indian-born brothers Sri and Gopi Hinduja, who run the Hinduja Group, kicked Russia’s Alisher Usmanov from the number-one slot as the richest in Britain. Usmanov dropped to second place after losing £2.7 billion over the last year “as the crisis in Ukraine wiped billions of pounds off the bank balances of Russian and Ukrainian oligarchs,” notes Reuters.
Eric Koch’s new book, New Beginnings, was launched on September 20. The book is available from 
This is a huge problem for the ordinary British rich. Even people of David Cameron’s class can’t afford to buy in central London as they are squeezed out by the foreign rich. Margaret Thatcher’s old house just sold for 35-million pounds.
All this because the non doms, as they are known, are only taxed on the money they bring in to Britain. They can get around that by pulling cash out of ATMs connected to a foreign bank.
Change the tax laws and the super rich might vamoose to somewhere warmer. Has to be a winning election issue.