UK Rich List 2026 shows tech founders surge as ultra‑rich flee to low‑tax havens

The Sunday Times Rich List 2026 highlights a sharp rise in wealth among technology founders and investors in the UK while also revealing a significant exodus of ultra‑high‑net‑worth individuals to low‑tax jurisdictions. Revolut chief executive Nik Storonsky entered the top‑10, jumping to seventh place with a net worth of about £16.4 bn after the fintech firm secured a UK banking licence and a $75 bn valuation. He is followed by fellow Russian‑born founder Alex Gerko in eighth place, both having renounced Russian citizenship.

Other tech figures climbed the rankings: Revolut co‑founder and CTO Vlad Yatsenko rose to 107th, Wise founder‑CEO Kristo Käärmann to 89th, and AI voice‑startup ElevenLabs co‑founders Mati Staniszewski and Piotr Dabkowski to joint 123rd. Veteran investor Sir Michael Moritz and his wife also moved up, reaching 34th with a fortune of £5.48 bn.

At the same time, the list shows a "wealth exodus" as one in six of the 2024 entrants are absent this year, many relocating to Monaco, Dubai, Switzerland and other low‑tax jurisdictions. The Sunday Times’ compiler warned that the “sharp rise in the number of British nationals now resident in Dubai, Switzerland and Monaco” could erode the UK’s tax base. Recent Treasury measures – including a mansion tax and higher capital‑gains rates – have been blamed for encouraging the departure of affluent residents.