Indian-origin steel magnate Lakshmi N Mittal, until now based in Britain and a regular on the country’s richest billionaires tally, has decided to quit the UK as the Labour Party-led government’s feared tax shake-up for the super-rich nears, according to a UK media report on Sunday.

Rajasthan-born Mittal is a resident in Switzerland for tax and will now spend much of his future in Dubai, according to the ‘The Sunday Times’.

The founder of ArcelorMittal steelworks is worth an estimated 15.4 billion pounds as per the 2025 ‘Sunday Times Rich List’, which ranked him the UK’s eighth richest man.

Now, the newspaper references sources close to the 75-year-old industrialist to claim he has become the latest billionaire to leave the UK ahead of a much-anticipated Budget by Chancellor Rachel Reev

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