the tax avoidance rich list 2011
The super-rich are getting super-richer.
The recently released Times Rich list 2011 shows that the top 1,000 people in the UK are 18% richer than this time last year. The appoint me to the board tax avoidance rich list members have seen their personal fortunes swelled through tax avoidance and/or being a tax exile.
We're in the process of updating the list to reflect the 2011 rich list. Keep tuning in as we go along.
Quickly find your favourite tax avoider.
John Fredriksen
Estimated family wealth: £6,200m (up £3,450m from 2010)OK, OK, slightly odd entry this one. The shipping tycoon John Fredrikson is a tax exile - just not a british one. No, When taxes became an inconvenience in his native Norway, he became a citizen of Cyprus.
Sir Philip and Lady Green
Estimated family wealth: £4,200m (up £95m from 2010)According to Which?, Sir Philip has displayed remarkable "tenacity in which he has avoided tax" and they estimate that he and his companies have "saved" tens of millions in tax. All of which give him a welcome boost up the Rich List.
Joe Lewis
Estimated wealth: £2,800m (up £100m from 2010)Joe Lewis made his money originally in foreign exchange dealing. He now makes his money by having his fingers in many pies including property, pubs, and Tottenham Hotspur Football Club. Doubtless he enjoys watching the matches on satellite TV from somewhere in his 3,600 acre tax haven property in the Bahamas.
Alan Parker
Estimated wealth: £2,290m (up £216m from 2010)Former accountant Parker made his stash in a duty-free shopping business, and he has shown a good eye for a deal ever since. He now lives in Geneva.
David and Frederick Barclay
Estimated wealth: £2,200m (up £400m from 2010)The Barclay brothers own a big chunk of the media, including The Spectator magazine and The Telegraph Group.
Although they are considered philanthropists, having donated over £40 million to medical research, they are also tax exiles. The savings from not paying tax in the UK but Monaco, should more than cover that, and leave enough small change over to pay for a Channel island.
Laurence Graff
Estimated wealth: £2,000m (up £800m from 2010)Graff makes his money from diamonds - and now that the good times are back for the super-rich, his company, Graff Diamonds International, is raking it in for, "The king of bling" living in tax exile in Switzerland.
Lord Ashcroft
Estimated wealth: £1,300m (up £50m from 2010)Lord Ashcroft may have resolved his tax status, but Saint Vince the Cable alleged that he owed the country £100m in taxes, and that is good enough for entry on the AMTTB Rich List.
John Hargreaves
Estimated wealth: £1,300m (up £280m from 2010)Congratulations to John Hargreaves, who after 8 long years of slumming it as a multi-millionaire has finally become a billionaire for the second time.
The Monaco-based tax exile [warning: opens Daily Mail article] is the owner of discount fashion chain Matalan.
Clive Calder
Estimated wealth: £1,300m (unchanged from 2010)The much travelled Calder - originally South African, now British citizen living in the tax haven of the Cayman Islands, made his money in music. He sold his record label, Zomba Records for £1.24 bn. Interestingly, he is being linked with EMI. He should arrange a meeting with Guy Hands - if they can find a mutually agreeable tax sanctuary in which to meet.
Nat Rothschild
Estimated wealth: £1,000m (up £670m from 2010)Ah yes, what list involving money would be complete without a Rothschild? A graduate of the Bullingdon Club, the hedge fund manager and future Baron calls tax-friendly Switzerland home.
Alan Howard
Estimated wealth: £975m (up £100m from 2010)Our first hedge fund manager, Howard has made his fortune by looking after a fund of £22 bn. He lives in Geneva to avoid UK tax on his own personal fortune.
Peter Cruddas
Estimated wealth: £750m (down £60m from 2010)The founder of internet financial traders CMC lives in Monaco. Despite that, he does pay some tax on his UK earnings - albeit at a lower rate than most regular working Joes - and as such, does not consider himself to be a tax exile. Others may take a different view.
Steve Lansdown
Estimated wealth: £750m (up £280m from 2010)Steve Lansdown is half of Hargreaves Lansdown, the financial services group. Lansdown is clearly feeling the pinch, however, as his personal wealth is some £270m behind his business partner, Peter Hargreaves. No wonder he lives in Guernsey for tax purposes.
Lord Laidlaw of Rothiemay
Estimated wealth: £745m (up £15m from 2010)Lord Laidlaw, who has never been far from controversy, made his money by selling his share of the Institute for International Research, an international conference business and lives in Monaco.
Lord Laidlaw is a member of the House of Lords, but is currently enjoying a sabbatical from his duties whilst his tax status is investigated.
Sir Stelios Haji-Ioannou
Estimated family wealth: £680m (down £140m from 2010)Sir Stelios lives in London, Athens and Monaco, where he is resident for tax purposes. "I have no UK income to be taxed in the UK," he stated. Yet he was happy to sign a letter protesting National Insurance changes here. Nuff said.
Tony Buckingham
Estimated wealth: £480m (down £77m from 2010)Appropriately, perhaps, the former soldier's company, Heritage Oil, has just found a large supply of natural gas in Iraq. Good news for the Jersey-based tax exile, whose personal fortune is down £77m from 2010.
Michael Tabor
Estimated wealth: £480m (down £50m from 2010)You never see a poor bookmaker. This is particularly true of Michael Tabor, who doesn't gamble with his own money when it comes to paying taxes in Barbados.
Geoffrey Kent
Estimated wealth: £213m (unchanged from 2010)Monaco-based Geoffrey Kent is Chairman of the upmarket travel company, Abercrombie & Kent. So at least he knows the good places to go in Monaco.
Firoz Kassam
Estimated wealth: £202m (up £1m from 2010)Firoz Kassam earned his fortune as a slum hotelier in the 1980s, buying run down hotels and renting the rooms to local councils, who in turn used them to house the homeless and asylum seekers. For this, the Tory party donor is known as the "merchant of misery." He lives in Monaco.
Alan Murphy
Estimated wealth: £190m (unchanged from 2010)Murphy has made his fortune from property and toilet paper. He lives in the tax haven of Monaco.
Sir Mick Jagger
Estimated wealth: £190m (unchanged from 2010)In 1972, Mick and the rest of the Rolling Stones moved abroad for tax purposes. Allegedly, the album 'Exile on Main St.' is a reference to this. Being a tax exile proved to be no barrier to being knighted in 2003.
Neil Taylor
Estimated wealth: £180m (unchanged from 2010)Taylor has made his money from Game, a computer games firm, and property in Germany. He lives in Dublin for tax perposes.
Derek Coates
Estimated wealth: £175m (up £75m from 2010)Guernsey-based Coates made his money selling off his vitamin company Healthspan, and has other interests in hotels and financial services.
Baron Foster of Thames Bank
Estimated wealth: £150m (down £18m from 2010)Baron Foster of Thames Bank - or Norman Foster as he is more widely known - is one of the nation's foremost architects.
As a tax exile, he has more than enough cash to be able fly either his private jet or helicopter to work as he commutes to London from Switzerland.
Phil Collins
Estimated wealth: £115m (up £7m from 2010)Solo artist and vocalist stroker drummer with Genesis, Collins lives in Switzerland.
Guy Hands
Estimated wealth: £100m (unchanged from 2010)We almost feel guilty having Guy in here, as he is up for the i'd charge a tenner to piss on you if i saw you on fire award, and as he's down to his last £100m after the EMI fiasco. But we managed to get over it. Hands famously lives in tax exile in Guernsey.
David Kirch
Estimated wealth: £100m (unchanged from 2010)Kirch made his money from London residential property. So its fairly ironic he now lives in tax exile in Jersey.
Andrew Rosenfeld
Estimated wealth: £100m (down £18m from 2010)Rosenfeld, from his tax-friendly base in Geneva runs Air Capital, which invests in property.
John Charman
Estimated wealth: £90m (down £55m from 2010)John Charman, who made his money in insurance and who lives in tax exile in Bermuda, largely came to the public attention when his ex-wife was awarded a £48m divorce settlement. Perhaps he would have faired better in court if he had been able to attend and not worry about his tax status.
Sean Connery
Estimated wealth: £80m (unchanged from 2010)Connery, undoubtedly the finest James Bond of them all, still lets the side down by living as a tax exile in the Bahamas. He claims it is political - and even if it is, a lower tax bill must still be a handy bonus for him.
Jeremy Agace
Estimated wealth: £75m (unchanged from 2010)A Monte Carlo based tax exile, Agace made his cash when selling the Mann & Co estate agency company to Hambros in 1986.
