SA’s Richest Woman Threatens UK After Politician Cracked Her Scheme
- A South African billionaire living abroad was not happy after her money-saving method was cracked by a politician
- The wealthy woman threatened to leave the European country and explained that her absence would have major consequences
- Social media users found her actions to be diabolical and dragged her in the comments section of a post by Sky News on Friday
People online were amazed by how the richest South African woman, Magda Wierzycka, saved loads of money.
Source: Instagram
A UK politician, Chancellor Rachel Reeves, cracked down on her scheme. Wierzycka threatened to leave the country unless the Chancellor backed down from her plans.
The billionaire businesswoman, Magda Wierzycka, runs an investment firm in London, but is also a non-dom as she lives permanently in South Africa. Non-doms are UK residents who are permanently living in another country for tax purposes, and aren't being taxed on their foreign incomes under the scheme.
South Africa’s richest woman makes threats to leave the UK
South Africa’s richest woman, Magda Wierzycka, was not pleased by the news that she might have to start paying taxes in the UK. The billionaire had come up with a plan to dodge giving the government a percentage of her money by living permanently in South Africa while operating her business in London.
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She enjoyed her stay in the UK until Chancellor Rachel Reeves cracked down on her scheme. Wierzycka explained that her move from the country would impact the economy:
“I have absolutely no doubt, based on people I know who have already left, that the consequences would be quite significant.”
The UK has looked closely at how the non-doms are negatively affecting its economy. Forecasts showed the crackdown on the non-dom scheme could generate £3.8bn over the next five years, assuming between 12 and 25% of non-doms leave.
Further analysis showed signs of an exodus among non-doms, with 35.8% fewer transactions for properties in London's most exclusive postcodes compared with a year earlier. People online thought Wierzycka was being delusional for wanting the country to backtrack on its plans to tax her and other non-doms.
See the Instagram post
Source: Instagram
People amazed by how billionaires’ scheme to save money
Social media users shared their thoughts on the matter:
@danschoie said:
“Imagine the entitlement of trying to bully the government into a change that affects millions of lives for personal gain.”
@gm_bravestar wondered:
“So she is not paying the correct level of tax already, so now she wants to leave because she is forced to pay tax. What exactly have we lost apart from not allowing her to live in England and giving nothing back?”
@samuelpack commented:
“If we had created this, it wouldn't have been a problem, and our economy wouldn't rely on it in the first place. Letting people like this leave is the only way to test exactly how we fix the economy to favour the average working person, rather than money hoarders like this. Why don't people understand that? The system is the way it is because we have allowed this for so long; it favours the rich and makes the poor poorer. Yet the majority of working people will argue for their case. Indoctrination at its finest.”
@natalieperry1004 wrote:
“We don't need or want them. Let them leave. I'll wave her goodbye if she likes.”
@ryansidey highlighted:
“Let them leave, what are they contributing other than buying extortionate mansions?”
@edpotaytoe said:
“If she doesn't like the UK, she can afford to leave.”
@nualagermaine shared:
“Greed has taken over this woman. How much money is enough?”
3 More stories related to wealthy people by Briefly News
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- A South African lady wowed Mzansi and the internet when she showed off her R100K fridge in a now-viral TikTok video.
- South Africans were inspired by a millionaire who experienced extreme poverty to owning a multimillion rand home in Cape Town.
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Source: Briefly News
