David Reuben Monaco Escape: UK’s Second-Richest Man Flees at 88

The David Reuben Monaco move is official. Britain’s second-richest man has left west London for the principality, and his spokesman confirmed it this weekend. He’s 88. Together with his brother Simon, he shares a fortune of around £28bn. He hasn’t said why he left.

LONDON, United Kingdom – 05 October 2026

Simon Reuben, 85, has lived in Monaco for roughly four decades. Both brothers keep huge UK interests, including a 15% stake in Newcastle United and the £1bn Piccadilly Estate regeneration. Britain scrapped the non-dom regime in April 2025, and Reuben is the biggest name to leave since.

What Happened With the David Reuben Monaco Move?

David Reuben moved from his Holland Park home in London to Monaco during summer 2026, according to reports published on 4 October. A spokesman confirmed the move and declined to comment further. He joins his brother Simon, who has lived in Monaco for about 40 years. The family’s UK property and football interests stay where they are.

Reports of the Sunday Times Rich List data say UK citizens living in Monaco now control roughly £77bn, with 24 of the 350 names on the list based there. That’s more than a tenth of the wealth on Britain’s own rich list, parked in a city-state of about two square kilometres.

Moving at 88 is unusual. In our experience, older clients only uproot when the estate-planning maths changes. The David Reuben Monaco decision fits that pattern.

Why Are Billionaires Leaving the UK Now?

Billionaires are leaving the UK mainly because the non-dom regime ended on 6 April 2025 and was replaced by a residence-based system. Long-term residents, meaning anyone UK tax resident for 10 of the previous 20 years, now face UK inheritance tax on worldwide assets. For families with global fortunes, that single change rewrote the estate plan.

KPMG’s summary is blunt. The new foreign income and gains regime only shelters people in their first four years of UK residence after at least 10 years abroad. Everyone else is taxed on worldwide income and gains as they arise. Add talk of a higher top rate in the Burnham tax plans, and people with options are using them.

Monaco isn’t the only landing spot. Others look at Gibraltar Category 2 status, Dubai or Italy. Our offshore residency options span 57 countries because the right base depends on where your assets, family and business sit.

UK vs Monaco: How the Tax Picture Compares

This is where people get burned. Leaving the UK doesn’t switch off inheritance tax. Depending on how long you lived there, the long-term residence rules can keep your worldwide estate in the UK net for three to 10 years after you go, according to KPMG’s analysis of the HM Treasury non-dom changes. So the way your assets are held matters as much as your new address.

What Are the Monaco Residency Requirements?

Monaco residency requirements come down to three things: a home in Monaco (owned or rented), proof of enough money to live on, judged by a Monaco bank, and a clean criminal record. Non-EEA nationals also need a long-stay type D visa before applying. The first residence card costs €80 and is valid for one year.

The Monaco government’s residence permit page doesn’t set a minimum deposit. Local banks make that call. Clients are often surprised that the bank interview and the lease take longer than the government paperwork.

The card itself moves through three tiers: a temporary card valid for one year, an ordinary three-year card after three years, and a privileged 10-year card after 10 years of residence. You don’t have to do it alone. Liberty Mundo handles the whole process, from the bank reference to the lease to the police appointment, through our Monaco residency service. Our Monaco residency guide covers the banking and housing steps.

Does Moving to Monaco End Your UK Tax Bill?

Moving to Monaco doesn’t automatically end your UK tax bill. You must break UK residence under the Statutory Residence Test, UK-source income can still be taxed, and long-term residents remain exposed to UK inheritance tax for up to 10 years. US citizens stay taxable by the IRS on worldwide income wherever they live, Monaco included.

A residence card isn’t proof of tax residence on its own. The separate Monaco tax certificate requires at least 183 days a year in the principality. Monaco’s own side is simple. Residents pay no personal income tax and no wealth tax. We’ve seen plenty of people get the move right and the paperwork wrong. Bottom line: the flight is the easy part, and the David Reuben Monaco case shows even billionaires plan around the tail.

For larger estates, pairing a new residence with asset protection trusts set up before the move is what protects the next generation.

David Reuben Monaco Move: FAQ