Chris Rokos leaves UK for Greece amid tax rise concerns
The billionaire hedge fund founder Chris Rokos is reportedly moving to Greece amid fears of tax rises in the upcoming autumn Budget, reports BritPanorama.
Mr. Rokos, who founded Rokos Capital Management, has an estimated net worth of around £2.6 billion. He was ranked third in the Sunday Times Tax List 2026, which reported he paid £330 million to the Treasury last year.
The London-born billionaire established his hedge fund in 2015, expanding it into an investment firm with offices globally and assets of around $20 billion.
He is set to be the first high-net-worth individual to exit the UK as Chancellor John Healey prepares his upcoming spending plan, as first reported by Bloomberg.
Labour has implemented various policies aimed at the super wealthy, including closing non-dom tax loopholes for overseas trusts and raising stamp duty for non-UK residents. This agenda has already prompted exits by other high-net-worth individuals, such as steel billionaire Lakshmi Mittal.
In response, EU nations are striving to attract UK billionaires with incentive schemes and tax breaks. Greece, for example, has become appealing since introducing a flat tax of €100,000 per year on global income for foreign high-net-worth individuals who transfer their tax residency to the country, conditional on investing in Greek assets valued at a minimum of €500,000.
Italy has also enhanced its appeal for wealthy foreign business owners by introducing tax breaks on overseas earnings in exchange for an annual fee of €100,000.
Andrew Griffith, Shadow Chancellor of the Exchequer, remarked, “Chris Rokos is Britain’s third-highest taxpayer. He has made huge contributions to charities and educational causes across our country. Yet another wealth and job creator leaving Britain is bad news for all of us.”
He added, “Whatever your personal finances, wealth creators leaving the UK means fewer opportunities for young people and leaves the rest of us paying more.”
Work and Pensions Secretary Pat McFadden, speaking on Sky News, emphasized the UK as a “great place to grow business,” but refrained from commenting on individual cases, asserting, “This is the greatest, or among the greatest, countries in the world, and that’s precisely because we are a great place to build, grow business.”
In his initial significant address since becoming Chancellor, Mr. Healey did not rule out further tax increases, warning that Britain has been paying a “Truss penalty” since the former Prime Minister’s 2022 mini-budget. While he asserted that the UK economy is “turning a corner,” he acknowledged a “need to control government spending.”
When questioned about possible tax rises, he stated, “If I respond to speculation now, that will only fuel more speculation, and it’s quite right. Every Chancellor would say that’s for the budget, and I’ll set out my plans and the future route for government for this country at that budget.”
The departure of figures like Rokos indicates a significant trend, as the UK grapples with changes in fiscal policy and the implications for its wealth creators.
