Terry Smith Builds $1 Billion Fortune With Riches Outside UK (1)

He’s been dubbed Britain’s Warren Buffett, an old-fashioned and hugely popular stock picker who tells people to invest in companies they understand. But when it comes to understanding Terry Smith’s own business, it’s far from simple.

As his firm Fundsmith shot to fame over the past decade with stellar returns, Smith has moved more of his interests away from Britain through a series of legal entities in tax havens in the Indian Ocean.

Since 2015, he’s shipped a greater proportion of his wealth to Mauritius 6,000 miles away, where he’s now a resident, making payments of hundreds of millions ...