In today’s episode of India Global, the glitter of London is dimming, as the city’s millionaires make a stunning exit. Over 11,000 millionaires fled London in 2024 alone, the largest exodus in recent memory. From steel magnate Lakshmi Mittal to top financiers, the message is clear: London’s losing its edge. Once a crown jewel of global finance, London now faces a reckoning. High taxes. Post-Brexit fallout. And the end of the non-dom tax regime; a dealbreaker for the ultra-rich. From Singapore to San Francisco, the wealthy are chasing opportunity — and shelter from rising tax burdens. In fact, London just slipped out of the top five wealthiest cities for the first time in decades. The rise of Asia. The boom in U.S. tech hubs. The fall of the London Stock Exchange. Is this the end of London’s reign — or just the beginning of a new global wealth order? The rich are on the move, and it seems that the world map of money is being redrawn. NDTV’s Gaurie Dwivedi speaks with senior journalist Nicholas Nugent to discuss this and more.
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