Why Are So Many Rich People Running Away From London? | Explained

There was a point in time when London was home to the largest number of dollar millionaires in the world. But now, millionaires are FLEEING London - and not just by handfuls, but by thousands. Since 2014, the city has been facing a declining number of millionaires... in just the last decade, London lost 12% of its wealthiest residents. But while this has been happening for a few years, the problem is that the frequency and scale of these exits has risen exponentially. As per a new report on global wealth, London saw a bigger exodus of the super wealthy than any city in the whole world - higher even than Moscow which came second, despite the fact that Russia is at war with Ukraine. For the first time in many decades, London didn't make it to the top 5 wealthiest cities list - Los Angeles took its place at number 5 this year. But why are they leaving? Watch

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