India, Oct. 13 -- Nik Storonsky, co-founder of digital banking app Revolut, is the latest billionaire to leave the UK. Storonsky has officially changed his residency from the UK to the United Arab Emirates (UAE), according to corporate filings reported by Forbes.

Russia-born Nikolay "Nik" Storonsky, 41, is one of the UK's richest men. According to a Forbes estimate, his stake in Revolut, which he cofounded in 2015, is now worth over $7.9 billion. Storonsky remains the CEO of Revolut as well as its largest shareholder.

The co-founder of Revolut has joined a growing wave of ultra-wealthy individuals leaving the UK, following the government's decision earlier this year to scrap a lucrative tax break.

In April, the British government ended...