UK’s Third-Richest Taxpayer to Leave for Greece
The BBC understands that Chris Rokos, a hedge-fund billionaire and one of the UK’s richest taxpayers, has decided to leave the UK for Greece. According to reports, he plans to open an office in Athens, benefiting from Greece’s generous tax rules for wealthy foreigners earning overseas income.
Rokos was ranked third in The Sunday Times list of Britain’s top taxpayers in 2022, having paid £330 million, and in March announced his intention to donate £190 million to Cambridge University.
A government spokesperson maintained that the UK remains an attractive destination for talent and investment, highlighting its "competitive and stable tax system, deep capital markets, world-class universities, and a highly skilled workforce."
While the specific reasons for Rokos’s decision are not publicly known, Greece’s favorable tax policies toward ultra-wealthy individuals are a significant factor. These rules allow foreigners meeting certain criteria to pay a flat annual tax of €100,000 (£86,000) on all overseas income.
Rokos’s move comes ahead of the UK Chancellor John Healey’s first Budget on October 28th. In an interview with the BBC on Monday, Healey left open the possibility of tax increases while addressing rising government borrowing costs.
Cambridge University expressed its gratitude for Rokos’s generosity in March, stating that his donation would be "the largest single donation made to a British university in modern times." The funds will establish a school of government in Cambridge named after him, aimed at training future leaders, scheduled to open this autumn.
Despite his gift to Cambridge, Rokos is an Oxford graduate, having studied mathematics at Pembroke College. He attended a state primary school before receiving a scholarship to Eton College.
