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Chris Rokos, the hedge fund founder Bloomberg values at about $4 billion, is moving his tax residency from Britain to Greece and opening an office in Athens, joining a steady departure of wealthy residents since the UK abolished its non-domiciled tax regime.
Rokos paid £330 million in UK tax last year, making him Britain's third-largest taxpayer on the Sunday Times list. His firm, Rokos Capital Management, which he founded in 2015, manages around $22 billion. He was paid £477 million last year after profits at the firm nearly tripled to £940 million. A spokesperson for Rokos declined to comment.
Greece allows wealthy foreign residents to pay a flat annual tax of about €100,000 on all overseas income, regardless of how much they earn. Against a UK regime that now taxes worldwide income and assets for long-term residents, the arithmetic is straightforward for anyone with substantial offshore wealth.
The most consequential departure for African wealth was Nassef Sawiris, Egypt's richest man. He began moving in December 2023, relocating his family office to Abu Dhabi, registered NNS Group in the Abu Dhabi Global Market in July 2024, resigned as a director of the London branch that November, switched his personal residency to Italy in early 2025 and formally closed the London office in April this year.
Italy charges a flat €200,000 a year twice Greece's rate, and still a rounding error against the wealth involved. Sawiris blamed "years of incompetence" on tax policy. Guillaume Pousaz, founder of the payments company Checkout.com, has also left.
Rokos donated £190 million to Cambridge University earlier this year, described at the time as the largest single donation to a British university in modern times, saying he wanted to "give something back."
He attended a state primary school before winning a scholarship to Eton and reading mathematics at Pembroke College, Oxford. He owns Tottenham House near Marlborough in Wiltshire, a 100-bed Grade I listed mansion, and last year listed a Florida property at £110 million, having bought it for a then-record £30 million in 2017.
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