Thor Björgólfsson, the investor known as Iceland's first billionaire, has quit Britain for Italy, becoming the latest wealthy name to leave since Labour scrapped the non-dom regime. He joins Goldman Sachs executive Richard Gnodde and Ineos finance chief John Reece among the moneyed figures who have already gone.
Björgólfsson, worth around £750M ($1B) on the Forbes billionaires list, switched his tax residency to Milan over the past year, and moved Novator out of London to Zurich, a shift understood to have cost around 20 jobs. The firm he founded was the lead backer of a £60M ($80M) funding round into the banking app Monzo in 2020. In an interview with Bloomberg, he warned that the flight of wealthy entrepreneurs 'is an exodus, it's not been hype.'
