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A $13 billion property mogul is the latest to flee Britain’s new taxes for Monaco, a warning sign as California votes on a billionaire tax

Written and edited by the WorldPing NewsdeskPublished Updated Original reporting: Fortune
A $13 billion property mogul is the latest to flee Britain’s new taxes for Monaco, a warning sign as California votes on a billionaire taxWorldPing
Image via Fortune.

What happened

David Reuben's move to Monaco follows a wave of departures since the U.K. scrapped its non-dom regime—and offers a preview of the fight California voters are deciding with Proposition 40.

Key facts

  • David Reuben's move to Monaco follows a wave of departures since the U.K. scrapped its non-dom regime—and offers a preview of the fight California voters are deciding with Proposition 40.
  • Reported by Fortune and published Wed, 07 Oct 2026 07:01:00 UTC.

Why it matters

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What to watch next

  • Revisions to the initial figures once fuller data is released
  • How rate expectations and index futures respond
  • Guidance or commentary from the companies and policymakers involved

Coverage timeline

When each newsroom published on this story, oldest first — all times UTC.

  1. Apparent exodus of super-rich suggests UK is no longer billionaires’ playground

  2. A $13 billion property mogul is the latest to flee Britain’s new taxes for Monaco, a warning sign as California votes on a billionaire tax

Sources

The original report was published by Fortune. WorldPing does not claim that reporting — this page summarises and contextualises it.

Read the full report at Fortune

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Related WorldPing coverage

Apparent exodus of super-rich suggests UK is no longer billionaires’ playgroundWorldPing
The Guardian

Apparent exodus of super-rich suggests UK is no longer billionaires’ playground

If recent complaints are believed, London and the UK are no longer welcoming for ultra-high net worth individuals London was once globally renowned as the “billionaires’ playground”, where the world’s super-rich could relax in the Georgian townhouses…

Brief by WorldPing · Original reporting by The Guardian