British businessman David Ruben moved from the UK to Monaco over the summer. This was confirmed to The Times by a representative for the 88-year-old billionaire, who did not give further details about the decision.
The move puts Ruben among the wealthiest individuals to change their residence since the reform of the British tax system. Monaco is known for its regime, in which individuals, with the exception of French citizens, do not pay tax on income, capital gains and property.
The Ruben brothers are second in the ranking of the rich
David Ruben and his brother Simon occupy second place in the ranking Sunday Times Rich List for 2026. The fortune of the two and their family is estimated at 27.97 billion pounds.
Their business is mainly focused on real estate, investments and venture capital. The brothers are among the largest private investors in Britain, but David Reuben's move does not automatically mean that their companies or assets are leaving the country.
Change to the non-dom regime
The British government abolished the non-dom status from April 6, 2025. Previously, some residents with a permanent home outside the UK could, under certain conditions, not pay British tax on income and profits from abroad.
„Before April 6, 2025, British residents whose permanent home was outside the country did not have to pay British tax on their foreign income“, the British tax office said.The Times linked the move of wealthy residents to the end of this regime and to fears of new tax increases under a Labour government. The tax changes have already led to decisions to leave or change residence among a number of high-profile businessmen.
Among them are steel magnate Lakshmi Mittal, Egyptian businessman and co-owner of „Aston Villa“ Nassef Sawiris, „Goldman Sachs“ vice chairman; Richard Gnod and hedge fund manager „Rokos Capital Management“ Chris Rokos. Gnod has moved from London to Milan, while Sawiris has changed his residence in favor of Italy and Abu Dhabi.
Rokos, who according to „The Guardian“ paid about 330 million pounds in taxes in 2025, is preparing to move his tax residence to Greece. He said he „would like to give something back to the UK“ — a statement made in connection with a large donation to Cambridge University, not as an official explanation for its impending move.
Sources: Times, Sky News, Guardian