Tycoon Moves $6 Billion Fortune to Switzerland From Caribbean

Sept. 8, 2020, 4:00 AM UTC

Anthony Bamford, the billionaire chairman of excavator maker JCB, has transferred his shares in the firm’s Caribbean holding companies to Switzerland, altering arrangements that fostered his family’s fortune for decades.

JCB Group Holdings Sarl, based in the Swiss canton of Vaud, now holds shares that the British tycoon and his family control in one of the world’s largest closely held construction-equipment makers, filings show. They previously managed the stock through entities based in Curacao, a Dutch Caribbean island that once flourished as a low-tax territory for foreign businesses and wealthy individuals.

Anthony Bamford, center, tours a tours a JCB factory in Sao Paulo with former U.K. prime minister David Cameron, left.
Stefan Rousseau/PA Images via Getty Images

The move illustrates the lengths many of ...

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