New Delhi, Nov. 23 -- Indian-origin steel tycoon Lakshmi Mittal has decided to leave the United Kingdom as the Labour Party government prepares a major tax overhaul targeting the ultra-wealthy, The Sunday Times reported on Sunday (November 23).

The India-born founder of ArcelorMittal, based in London, is now a tax resident of Switzerland and will shift much of his time to Dubai, the report said.

According to the 2025 Sunday Times Rich List, Mittal's fortune stands at £15.4 billion, making him the eighth richest person in Britain.

Mittal already owns a mansion in Dubai and has recently acquired "tracts of an intriguing development on nearby Naia Island," the report said, signalling a long-term shift of his base to the UAE.

The mov...