Shravin Bharti Mittal, heir to Indian billionaire Sunil Bharti Mittal, was confirmed earlier this month to have relocated to the United Arab Emirates, taking with him a $23.3billion (£18.4billion) portion of his family’s wealth.
Sir Peter Lampl, the millionaire who established the Sutton Trust, also revealed he had left the country, citing Lord Sadiq Khan’s London transport policies as the decisive factor.
Sir Peter told The Telegraph: “More and more people of my type appear to have come to the same conclusion… It’s a mass exodus.”
Richard Fuller, the shadow chief secretary to the Treasury, cautioned that the flight of Britain’s richest individuals “should set alarm bells ringing in Downing Street”.
He said: “The talent and potential of our country is our greatest resource. You cannot keep piling taxes on wealth creators and expect the economy to grow.
“Labour needs to get a grip, stop discouraging our talent from striving for success and make Britain a country people want to invest in.”