{"id":216995,"date":"2025-06-26T22:26:21","date_gmt":"2025-06-26T22:26:21","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/216995\/"},"modified":"2025-06-26T22:26:21","modified_gmt":"2025-06-26T22:26:21","slug":"britain-has-gone-to-hell-norwegian-shipping-tycoon-who-is-one-of-britains-richest-men-says-hes-moving-his-businesses-out-of-london-after-labours-non-dom-tax-raid","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/216995\/","title":{"rendered":"&#8216;Britain has gone to hell&#8217;: Norwegian shipping tycoon who is one of Britain&#8217;s richest men says he&#8217;s moving his businesses out of London after Labour&#8217;s non-dom tax raid"},"content":{"rendered":"<ul class=\"mol-bullets-with-font\">\n<li class=\"\"><strong>Do YOU have a story? Email: olivia.christie@mailonline.co.uk\u00a0\u00a0<\/strong><\/li>\n<\/ul>\n<p class=\"author-section byline-plain\">By <a href=\"https:\/\/www.dailymail.co.uk\/profile-983\/olivia-christie.html\" class=\"author\" target=\"_blank\" rel=\"noopener\">OLIVIA CHRISTIE<\/a> <\/p>\n<p class=\"byline-section\"> Published:  14:08 EDT, 26 June 2025   |  Updated:  17:02 EDT, 26 June 2025   <\/p>\n<p class=\"mol-para-with-font\">The UK&#8217;s ninth richest billionaire John Fredriksen has moved his business out of <a style=\"font-weight: bold;\" target=\"_self\" href=\"https:\/\/www.dailymail.co.uk\/news\/london\/index.html\" id=\"mol-3301c3f0-52b4-11f0-ab5c-c79a3a2d5f30\" rel=\"noopener\">London<\/a> following Labour&#8217;s controversial non-dom tax raid.\u00a0<\/p>\n<p class=\"mol-para-with-font\">The Norwegian-born shipping tycoon said &#8216;Britain had gone to hell&#8217; after it emerged he had closed the Sloane Square headquarters of one of his private businesses -Seatankers Management.\u00a0<\/p>\n<p class=\"mol-para-with-font\">It is the latest worrying sign of the huge exodus of wealth from the capital and comes after the UK suffered its biggest ever fall in billionaires on record.\u00a0<\/p>\n<p class=\"mol-para-with-font\">The Labour Government abolished the non-dom tax status in April, which is where UK residents whose permanent home or domicile for tax purposes is outside the country.<\/p>\n<p class=\"mol-para-with-font\"> Mr Fredriksen, 81, who\u00a0has an estimated wealth of around \u00a313.7 billion, has been critical of Britain&#8217;s poor economic prospects.\u00a0<\/p>\n<p class=\"mol-para-with-font\">He is now said to spend most of his time running his business empire from the United Arab Emirates.<\/p>\n<p class=\"mol-para-with-font\">Mr\u00a0Fredriksen told Norwegian title E24 at a shipping event in Oslo earlier this month:\u00a0&#8216;It&#8217;s starting to remind me more and more of Norway.\u00a0<\/p>\n<p class=\"mol-para-with-font\">&#8216;Britain has gone to hell, like Norway.&#8217;<\/p>\n<p>   <img decoding=\"async\" id=\"i-11df0a0c6bc453ea\" src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/99759113-14851281-image-a-1_1750960169370.jpg\" height=\"874\" width=\"634\" alt=\"The UK's ninth richest billionaire John Fredriksen (pictured) has moved his business out of London following Labour's controversial non-dom tax raid\" class=\"blkBorder img-share\" style=\"max-width:100%\" loading=\"lazy\" \/>   <\/p>\n<p class=\"imageCaption\">The UK&#8217;s ninth richest billionaire John Fredriksen (pictured) has moved his business out of London following Labour&#8217;s controversial non-dom tax raid<\/p>\n<p>   <img decoding=\"async\" id=\"i-e5a9747e05707e24\" src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/99760871-14851281-image-a-6_1750960910821.jpg\" height=\"421\" width=\"634\" alt=\"Pictured: The multi-million pound home of Mr\u00a0Fredriksen in Chelsea, London\" class=\"blkBorder img-share\" style=\"max-width:100%\" loading=\"lazy\" \/>   <\/p>\n<p class=\"imageCaption\">Pictured: The multi-million pound home of Mr\u00a0Fredriksen in Chelsea, London\u00a0<\/p>\n<p>   <img decoding=\"async\" id=\"i-5c839308189a94fb\" src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/98440137-14851281-The_UK_has_suffered_the_biggest_fall_in_billionaires_on_record_a-a-2_1750960736256.jpeg\" height=\"423\" width=\"634\" alt=\"The Labour Government abolished the non-dom tax status in April, which is where UK residents whose permanent home or domicile for tax purposes is outside the country\" class=\"blkBorder img-share\" style=\"max-width:100%\" loading=\"lazy\" \/>   <\/p>\n<p class=\"imageCaption\">The Labour Government abolished the non-dom tax status in April, which is where UK residents whose permanent home or domicile for tax purposes is outside the country<\/p>\n<p class=\"mol-para-with-font\">He added: &#8216;The entire Western world is on its way down.&#8217;<\/p>\n<p class=\"mol-para-with-font\">&#8216;People should get up and work even more, and go to the office instead of having a home office.&#8217;<\/p>\n<p class=\"mol-para-with-font\">The oil tanker magnate, who owns one of London&#8217;s most prestigious private homes in Chelsea, left Norway in 1978.\u00a0<\/p>\n<p class=\"mol-para-with-font\">He first got into oil trading in the 1960s in Beirut, before buying his first tankers in the 1970s.<\/p>\n<p class=\"mol-para-with-font\">Mr Fredriksen made his fortune during the Iran-Iraq war in the 1980s, and in 2001 bought up the Grade II listed riverside Chelsea mansion for \u00a337million.<\/p>\n<p class=\"mol-para-with-font\">Then in 2004, he reportedly turned down\u00a0former Chelsea owner Roman Abramovich&#8217;s \u00a3100million offer for the house.\u00a0<\/p>\n<p class=\"mol-para-with-font\">It is now estimated to be worth a whopping \u00a3250million.\u00a0<\/p>\n<p class=\"mol-para-with-font\">Last month, it was revealed that the\u00a0UK has suffered the biggest fall in billionaires on record.<\/p>\n<p>Your browser does not support iframes.<\/p>\n<p class=\"mol-para-with-font\">The number dropped to 156 this year from 165 in 2024, representing the sharpest decline in the Sunday Times Rich List&#8217;s 37-year-history.<\/p>\n<p class=\"mol-para-with-font\">It came after the Autumn Budget last year included several controversial tax changes.\u00a0<\/p>\n<p class=\"mol-para-with-font\">Since April, employers have had to start paying higher National Insurance contributions for their staff.\u00a0<\/p>\n<p class=\"mol-para-with-font\">Rachel Reeves, backed by Sir Keir Starmer, also made changes to capital gains tax and inheritance tax.<\/p>\n<p class=\"mol-para-with-font\">&#8216;Our billionaire count is down and the combined wealth of those who feature in our research is falling,&#8217; Robert Watts, compiler of the Rich List, said when it was published last month.<\/p>\n<p class=\"mol-para-with-font\">&#8216;We are also finding fewer of the world&#8217;s super rich are coming to live in the UK.&#8217;<\/p>\n<p class=\"mol-para-with-font\">He said he was also &#8216;struck by the strength of criticism for Rachel Reeves&#8217;s Treasury&#8217; when speaking to wealthy individuals for the publication.<\/p>\n<p class=\"mol-para-with-font\">Mr Watts said: &#8216;We expected the abolition of non-dom status would anger affluent people from overseas.<\/p>\n<p class=\"mol-para-with-font\">&#8216;But homegrown young tech entrepreneurs and those running centuries-old family firms are also warning of serious consequences to a range of tax changes unveiled in last October&#8217;s budget.&#8217;<\/p>\n<p>                    Share or comment on this article:<br \/>\n                        &#8216;Britain has gone to hell&#8217;: Norwegian shipping tycoon who is one of Britain&#8217;s richest men says he&#8217;s moving his businesses out of London after Labour&#8217;s non-dom tax raid<\/p>\n","protected":false},"excerpt":{"rendered":"Do YOU have a story? Email: olivia.christie@mailonline.co.uk\u00a0\u00a0 By OLIVIA CHRISTIE Published: 14:08 EDT, 26 June 2025 | Updated:&hellip;\n","protected":false},"author":2,"featured_media":216996,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7757],"tags":[748,92,393,4884,257,12,16,15],"class_list":{"0":"post-216995","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-london","8":"tag-britain","9":"tag-dailymail","10":"tag-england","11":"tag-great-britain","12":"tag-london","13":"tag-news","14":"tag-uk","15":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114752021318969134","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/216995","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=216995"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/216995\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/216996"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=216995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=216995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=216995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}