Number of millionaires in London falls as wealthy flee

Thousands of millionaires fled London in the past year with some moving to the United States and others driven out by high taxes and Brexit, according to a report published on Wednesday.

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The exodus continued a de-cade-long trend that has been attributed to tax increases, fail-ure to recover from the 2008 financial crisis and Britain's ac-rimonious departure from the European Union.

Some 11,300 dollar million-aires exited London in 2024, found the annual World's Wealthiest Cities Report pub-lished by advisory firm Henley & Partners and data-intelligence company New World Health.

London now has 215,700 dollar millionaires, down from 227,000 in 2023, the report found. The British capital was pushed into sixth place last year by Los Angeles, which overtook it with 226,600 millionaires.