'Britain is hostile!' UK's billionaire exodus continues as Wales' richest man flees the country

Sir Michael, a former journalist who chairs venture capital firm Sequoia Capital, remains the wealthiest individual in Wales.

He told The Times his decision was driven by anxiety about political trends rather than a desire to avoid paying taxes.

As many as 1,800 non-doms – who tend to be very wealthy and highly mobile individuals – have already left the UK during the 2024/25 tax year, according to analysis by consultancy Chamberlain Walker.

This is 50 per cent above the Office for Budget Responsibility (OBR) forecast of 1,200, with potentially many more set to follow between now and April 2027.

He spilts his time between San Francisco and the UK, but will leave both behind in search of safety and security.

Sir Michael said growing support for populist right-wing movements on both sides of the Atlantic had prompted him to consider alternative citizenship options.

"I think the lesson I've learnt is that you can never have enough passports," he said.

Sir Michael’s family history is closely tied to twentieth-century European politics.

His father, Ludwig Moritz, fled Germany after Adolf Hitler came to power and brought the family to Britain.

Despite this, Sir Michael said he now views Germany as a safer option for Jewish families than the UK.

Sir Michael said: "I think Britain for Jews today is a very hostile place."

He cited what he described as rising levels of antisemitism affecting daily life.

Sir Michael said: "If you're a kid living in north London, you don't wear school uniform anymore, so you're not identified as a Jew."

He acknowledged choosing Germany may appear surprising given its history, but the decision was influenced by a deeper historical connection.

"I think it's this sort of emotional connection that that's where Jews are buried," he said.

Sir Michael also addressed political developments in the US under Donald Trump.

He said he was deeply critical of Mr Trump, and described unease within Silicon Valley about his leadership, with many technology executives maintaining relationships with him out of necessity, rather than support.

"Most of these people who pose in pictures with Trump, they have his number," he said.

"They realise what an absurd buffoon he is."

He said business leaders felt compelled to engage with Mr Trump to protect their interests.

"He's running a protection racket and they've got to pay for protection."

He also commented on Elon Musk’s role in the failed Doge government spending initiative.

"Poor Elon, I thought he didn't understand quite who he was dealing with," he said.

Despite his criticism of current politics, Sir Michael has continued to use his wealth to support social causes.

He and his wife pledged $9million to support food provision in San Francisco after the Trump administration abolished the SNAP food stamp programme.

The city of San Francisco matched their donation to help ensure the scheme could continue.

He has also invested in journalism by founding The San Francisco Standard newspaper; a decision prompted by frustration with the quality of local reporting.

Sir Michael said: "I didn't know what was happening in my own city, the coverage was so bad. I think local journalism is what makes local democracy work."

Although he funds the publication, he said editorial independence is central to its operation, and encourages journalists to scrutinise him in the same way as any other figure.

"I deserve to have my knuckles rapped, go for it."

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