‘Britain has now become hell’, selling its bungalow for $ 337 million and settling in Dubai’s shipping tycoon

Britain has been facing migration from the country of its richest citizens for a long time. In this episode, now Norway -born shipping tycoon John Fredrixon has also said goodbye to the UK. According to Forbes report, Frederickson is the ninth richest billionaire in the UK. He has recently decided to sell his 300 -year -old Georgian Bungalow in London for $ 337 million, or Rs 2800 crore.

According to the report, this luxurious property is spread over 30,000 sq ft. This bungalow also has 10 bedrooms, a private ballroom and a garden spread over two acres. However, according to the report, Fredrixon has decided to sell its luxurious bungalow after openly criticizing Britain’s economic policies, stating that, ‘Britain has become hell due to adverse changes in tax.’

John Fredrxon is owned by assets of 13.7 billion pounds

According to Forbes report, John Fredrxon is the 9th richest citizen in the UK, with a total assets of about 13.7 billion pounds. Fredrixon has one of the world’s largest oil tankers fleets. Apart from this, his business also includes offshore drilling, fish farming and gas sector business.

In an interview to Norwegian Publication E24, Fredrixon announced that he would now live in the United Arab Emirates (UAE) and would operate his business spread in the western world from there. He said, “The whole western world is going towards its downfall.” During this, he said, “Due to the changes in the UK tax, they have decided to settle in the United Arab Emirates, where they spend most of their time and will operate their global business operations from there.

The main reason behind the exodus of billionaires from Britain

In fact, the migration of billionaires continues in the UK for a long time. There are many important reasons behind this. The most prominent reason is a change in tax policies. Other than this,

• Elimination of Non-Domic (Non-Dom) tax system implemented by Labor Government in UK from 1799
• In April 2025, the imposition of Inheritance Tax by abolishing this system by Chancellor Rechhel Reves
• Increase in capital gains tax rates (Basic rate has been increased from 10% to 18% and higher rate from 20% to 24%.)
• Increase in National Insurance Contributions (NICS)

At the same time, apart from the change of tax policies, the UK Brexit has also been a big reason. From this

• Brexit has increased economic uncertainty
• The pound is weakened
• Visa has become necessary for UK citizens in the European Union
• London Stock Exchange’s decreasing global reputation
• The slow economic recovery of the UK from the recession of 2008 is also the reason.

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