The Furloughed Billionaire

That governments including the UK have moved swiftly to protect individuals’ livelihoods is admirable, and wise. That the financing of corporate furlough schemes has fallen on the taxpayer when some of the wealthiest business owners, and their portfolio company managers, have shown little, if any, aptitude to dive into their own plentiful pools of cash, credit and investment, leaves a sour taste. That those very same owners have chosen to “game” the system (furloughing mid and senior managers) because “everyone else is doing it”, really raises serious questions about their societal values and how we responsibly distribute wealth.

For ultra high net worth individuals, particularly “non-doms”, already under intense scrutiny, to be on the wrong side of public opinion when this is all cleared up, may well prove to be penny wise, and millions of pounds foolish.

That train has already left the station, let’s see what welcome lies ahead for them on “arrival”.

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