Mega-Rich Baby Boomers Quit UK in Wealth Exodus Over Tax

The patriarch of one of the Europe’s biggest fortunes is among the latest wave of rich Baby Boomers and Gen X residents exiting the UK amid tax hikes aimed at the country’s wealthiest denizens.

Troels Holch Povlsen, the 75-year-old founder of clothing giant Bestseller, which owns the Jack & Jones brand, recently switched his usual residency to his native Denmark after previously citing it as England, according to registry filings.