Tuesday, 28 March 2017

Footloose Billionaires Head to Switzerland

SWISSINFO.CH: High quality of life and low taxes continue to lure the richest people in the world to Switzerland, now home to the second-highest number of foreign-born billionaires in the world.

Chinese-based media group Hurun Report closely follows the fortunes – and migration routes – of the wealthiest people on the planet. In the Hurun Global Rich List 2017 it reveals that while Switzerland has the sixth-highest concentration of billionaires in the world, only half are home-grown. The rest are made up of people arriving from other countries. The United States tops the list.

Some of Switzerland’s best-known billionaires hail from other countries, such as AB InBev brewery magnate Jorge Paulo Lemann (from Brazil), industrialist Viktor Vekselberg (Russia) and commodities mogul Gennady Timchenko (Armenia). Ikea founder Ingvar Kamprad was Switzerland’s richest resident for a long time before decamping back to his native Sweden. » | Matthew Allen | Thursday, March 23, 2017