Chris Rokos's £477M Payday in Focus as Hedge Fund Titan Plans Greece Tax Move

Hedge fund billionaire Chris Rokos paid himself £477 million last year, making him one of Britain's biggest individual taxpayers. He is now preparing to shift his tax residency from the UK to Greece, according to a person familiar with his plans, who spoke on condition of anonymity.

The move by the Rokos Capital Management founder, whose macro hedge fund manages about $22 billion (£17bn), comes in the middle of a political row over tax policy and Britain's ability to retain its wealthiest residents. Bloomberg first reported the move. A spokesperson for Rokos declined to comment.

Rokos, 55, is estimated to be worth about £2.3 billion and ranks among Britain's largest individual taxpayers. His departure would follow the abolition of the UK's non-dom regime and mounting speculation that the Labour government will tighten the tax net on high earners in next month's Budget.

Greece's Bid To Lure High Earners

Greece is offering qualifying high-net-worth individuals an annual flat tax of €100,000 (£84,000) on foreign income, available for up to 15 years, provided they invest at least €500,000 (£419,000) in the country.

Italy, Switzerland and the United Arab Emirates have drawn similar departures, but Greece has emerged as one of the more aggressive competitors for mobile wealth.

Rokos Capital Management employs more than 370 people across London, New York, Abu Dhabi and Singapore. Unlike many rival funds where investment committees share power, Rokos himself remains the central decision-maker on major trading positions, raising questions over whether senior staff might eventually follow him abroad.

The firm paid 248 UK staff an average of around $505,000 (£395,000) last year, according to company filings. Analysts say a wider relocation could draw hundreds of millions more in income tax out of the UK system.

Shadow Chancellor Warns of Wealth Exodus

Conservative shadow chancellor Andrew Griffith accused the government of squandering Britain's appeal to wealth creators, saying: 'Yet another wealth and job creator leaving Britain is bad news for all of us.' He warned that when high earners leave, 'the rest of us pay more.'

Chancellor John Healey has declined to rule out further tax rises ahead of the Budget, saying he would not be drawn into 'speculation' that would only fuel more of it.

His predecessor, Rachel Reeves, faced criticism over earlier increases to employer national insurance contributions despite manifesto commitments not to raise income tax, VAT or national insurance.

The timing is awkward for Labour. News of Rokos's plans emerged as Jaguar Land Rover confirmed 4,000 job cuts, prompting fresh accusations from business groups and opposition parties that the government is indifferent to investment.

Reform UK's shadow chancellor, Robert Jenrick, dismissed Healey's economic approach as 'dire and dreary,' arguing it would 'change absolutely nothing' for those losing work.

Deep UK Roots and Major Philanthropy

Rokos is not a distant billionaire with few UK ties. Educated at a state school before winning a scholarship to Eton and going on to Oxford, he has given significant sums to British institutions.

He endowed a scholarship at Eton and this year pledged £190 million to Cambridge University, described as the largest single gift to a UK university, to support a new school of government.

He has also spent an estimated £175 million restoring Tottenham House, a Wiltshire mansion that had stood empty for 18 years, and owns properties in London and Greenwich.

What becomes of them should he settle in Greece remains unclear. Supporters of tougher taxes on wealth argue the departure of a handful of tycoons is a price worth paying to reduce inequality, while critics say the loss of major taxpayers risks undermining the public finances.

With Britain's third-largest individual taxpayer considering a move abroad, others in the hedge fund world will be watching closely to see who follows.