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Brexit Fan Ratcliffe Moves To Monaco
Jim Ratcliffe describes himself as deeply British and is a strong supporter of Brexit. But that does not prevent the multi-billionaire from moving his residence to the Côte d'Azur.
Yazar: Tom Roberts
Yayınlanma: 26 Eylül 2020 00:22
Güncellenme: 18 Kasım 2024 11:16
Brexit Fan Ratcliffe Moves To Monaco
He is one of the vocal supporters of Brexit: Jim Ratcliffe, multi-billionaire and head of the petrochemicals group Ineos. But that didn't stop the richest Briton from moving to Monaco after completing his mission.
As the financial news agency Bloomberg reports, Ratcliffe is now officially a resident of the principality and does not have to pay tax on income or dividends. That should be worthwhile for the 67-year-old, because Bloomberg estimates the fortune of the Brexit proponent at the equivalent of 19.3 billion euros.
Two years ago Ratcliffe had promised to stay in Great Britain even after Brexit. But since then there have been reports that the billionaire, like the two other Ineos top managers, was preparing to leave the island.
In 2010, the group relocated its headquarters to Switzerland for tax reasons. Six years later, it went back to Great Britain against the backdrop of Brexit support. Ratcliffe later assured that the three-headed Ineos leaders felt deep remorse for moving to Switzerland. After all, he and his two colleagues are deeply British. The decision for Switzerland was made in the "area of tension between emotions and tax pragmatism".
So now Ratcliffe is drawn to Monaco. Other very wealthy supporters of Brexit have also moved their center of life and their wealth abroad after the British voted in a referendum in 2016 to leave the European Union. The most prominent example is James Dyson. The inventor of the bagless vacuum cleaner now lives in Singapore.
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