Mega-Rich Baby Boomers Quit UK in Wealth Exodus Over Tax (1)

The patriarch of one of the Europe’s biggest fortunes is among the latest wave of rich Baby Boomers and Gen X residents exiting the UK amid tax hikes aimed at the country’s wealthiest denizens.

Troels Holch Povlsen, the 75-year-old founder of clothing giant Bestseller, which owns the Jack & Jones brand, recently switched his usual residency to his native Denmark after previously citing it as England, according to registry filings.

Elio Leoni Sceti, 59, the former chief executive officer of EMI Music and co-founder of an early stage investment firm based in London and San Francisco, has ...