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Evening Standard
Evening Standard
Business
Jonathan Prynn

'Britain has gone to hell': Why one of the UK’s richest men moved his business out of London this year

John Fredriksen United Kingdom London Oil Chelsea the Duke of Wellington Norway Britain

The UK’s ninth richest billionaire, Norwegian-born shipping tycoon John Fredriksen, said “Britain has gone to hell” and has moved his business out of London in 2025, in a worrying sign of the huge exodus of wealth from the capital.

The 81-year-old, who owns one of London’s most prestigious private homes, The Old Rectory in Chelsea. The home is now said to be up for sale as he spends most of his time running his empire from the United Arab Emirates.

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