Post by @thisismoney

Britain's second richest person has left the UK for Monaco. 💰🇲🇨 David Reuben, the billionaire property tycoon and Newcastle United shareholder, has reportedly moved from the UK to Monaco, becoming the latest wealthy business figure to relocate overseas. Reuben, 88, and his brother Simon Reuben are ranked second on the Sunday Times Rich List, with a combined fortune of nearly £28 billion. A spokesperson confirmed the move, although no official reason was given. Monaco is a popular destination for high-net-worth individuals because it does not levy income tax, capital gains tax or inheritance tax on residents. His departure follows several other high-profile exits by wealthy Britons, including Sir Jim Ratcliffe, Sir Lewis Hamilton and Chris Rokos, amid ongoing debate around UK tax policy. #ThisIsMoney #Money #News #UK