One of the UK's leading tech entrepreneurs, Hermann Narula, whose wealth is estimated at £700 million ($918 million), is preparing to leave the United Kingdom and move to Dubai, a move that has drawn attention from economic and media circles. Narula, the 37-year-old CEO of Improbable, a company specializing in video games, defense, artificial intelligence, and cryptocurrencies, told The Telegraph that current government policies have become "anti-entrepreneurial," warning they could push British startups to leave the country. He described the move to impose new taxes as "madness," targeting successful startups instead of supporting them. Narula confirmed that he does not fundamentally want to leave Britain but is taking this step now so as not to find himself without the option to move later, especially with the growing talk of an exit tax for the wealthy. According to British media reports, Chancellor Rachel Reeves is considering imposing a capital gains tax on wealthy individuals when they move abroad, aiming to curb capital flight. Narula is one of the most prominent figures in British technology; he founded Improbable at 29, and SoftBank invested $500 million in it in 2017. It is now valued at $3.4 billion, and Narula owns a third of its shares. Dubai topped the list of the world's most attractive cities for the wealthy, surpassing New York and 30 other cities, according to a report by global real estate brokerage Savills, cited by Bloomberg. Overall, the UAE continues to solidify its position as a top global destination for the wealthy. A recent report by immigration and investment consultancy Henley & Partners indicated that the country is expected to attract a net inflow of 9,800 millionaires in 2025, with a total investable wealth of approximately $63 billion.
