Indian-origin steel magnate Lakshmi N. Mittal, until now based in Britain and a regular on the country’s richest billionaires tally, has decided to quit the U.K. as the Labour Party-led government’s feared tax shake-up for the super-rich nears, according to a U.K. media report on Sunday (November 23, 2025).

Rajasthan-born Mittal is a resident in Switzerland for tax and will now spend much of his future in Dubai, according to the The Sunday Times.

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