The UK's ninth richest billionaire John Fredriksen has moved his business out of London following Labour's controversial non-dom tax raid.
The Norwegian-born shipping tycoon said 'Britain had gone to hell' after it emerged he had closed the Sloane Square headquarters of one of his private businesses -Seatankers Management.
It is the latest worrying sign of the huge exodus of wealth from the capital and comes after the UK suffered its biggest ever fall in billionaires on record.
The Labour Government abolished the non-dom tax status in April, which is where UK residents whose permanent home or domicile for tax purposes is outside the country.
Mr Fredriksen, 81, who has an estimated wealth of around £13.7 billion, has been critical of Britain's poor economic prospects.
