Chris Rokos, founder of Rokos Capital Management and one of Britain's largest taxpayers, is relocating his residency to Greece and establishing an office in Athens. Last year, Rokos paid £330 million in taxes, making him the third-highest taxpayer in the UK, according to Bloomberg News.
Rokos's move comes as the UK faces an increasing number of wealthy individuals departing the country. This trend is occurring as the Labour party, under Prime Minister Andy Burnham, implements tax policies that critics argue are driving away affluent residents and businesses. Labour has reportedly targeted non-domiciled residents, inheritance taxes, high-value properties, and private school fees. Fears persist that further wealth taxes may be introduced to fund government initiatives, including pledges to build more council housing, reform social care, manage living costs, and increase defense spending.
Rokos, 55, is reportedly worth approximately $4 billion (£3 billion). Earlier this year, he made a significant donation of £190 million to Cambridge University, described as the largest single donation to a British university in modern times. Rokos previously attended state primary school before winning a scholarship to Eton College and studying mathematics at Pembroke College, Oxford. His firm experienced a profitable year, with profits nearly tripling to £940 million, leading to his personal earnings of £477 million last year.
Rokos owns Tottenham House, a Grade I listed mansion in Wiltshire. He has historically made donations to the Conservative Party. He also previously listed his Florida mansion for sale for £110 million after purchasing it for a record £30 million in 2017.
Other high-net-worth individuals, including Guillaume Pousaz, founder of Checkout.com, and Nassef Sawiris, Egypt's second-richest man, have also recently left the UK.