Chart of the week: Why billionaires love London

Chart: Cities with the most billionaires

The typical billionaire has the resources to choose to live wherever they like. So it says something about Britain that the country hosts by far more billionaires (in sterling terms) per head of population than any other nation, according to the latest figures from The Sunday Times Super-Rich List.

Most of the 104 billionaires living here are in London, as the chart shows – far more than in Moscow, the next-most popular city.

So why is the UK so appealing? As John Arlidge notes in The Sunday Times, it’s a mixture of things. We offer good schools, political stability and respect for the rule of law.

On top of that, getting a visa is easy (you can start by investing £1m in gilts); the tax regime is forgiving – ‘non-doms’ aren’t taxed on global income, unlike in America; and Britain’s banks “ask comfortably few questions” about the source of a billionaire’s wealth.

Merryn

Claim 12 issues of MoneyWeek (plus much more) for just £12!

Let MoneyWeek show you how to profit, whatever the outcome of the upcoming general election.

Start your no-obligation trial today and get up to speed on:

  • The latest shifts in the economy…
  • The ongoing Brexit negotiations…
  • The new tax rules…
  • Trump’s protectionist policies…

Plus lots more.

We’ll show you what it all means for your money.

Plus, the moment you begin your trial, we’ll rush you over THREE free investment reports:

‘How to escape the most hated tax in Britain’: Inheritance tax hits many unsuspecting families. Our report tells how to pass on up to £2m of your money to your family without the taxman getting a look in.

‘How to profit from a Trump presidency’: The election of Donald Trump was a watershed moment for the US economy. This report details the sectors our analysts think will boom from Trump’s premiership, and gives specific investments you can buy to profit.

‘Best shares to watch in 2017’: Includes the transcript from our roundtable panel of investment professionals – and 12 tips they’re currently tipping. The report also analyses key assets, including property, oil and the countries whose stock markets currently offer the most value.