The billionaire moved to Singapore along with his technology company amid much fanfare, but less than two years later, it seems like he's switched his residency back the the U.K., according to reports.
Appliance inventor James Dyson, worth $29 billion, has moved back to the U.K., «Bloomberg» reported on Thursday, citing filings for companies the billionaire controls, including his family office Weybourne Group.
«We do not comment on private family matters and nothing has changed in respect of the company,» a Dyson spokesperson told the publication, adding, «The structure of the group and the business rationale underpinning it are unaltered.»
Scrapped Plans
In 2018, Dyson – a prominent Brexit supporter – said his company would produce electric cars from a plant in Singapore by 2021. The company later moved its headquarters from the U.K. to the city-state. Dyson also incorporated his family office in Singapore, hiring for IT and finance roles.
The billionaire also splashed out on two luxury properties: a Good Class Bungalow with unobstructed views of the Singapore Botanic Gardens, purchased for an estimated S$41 million, and a 21,109 square foot triplex «super-penthouse» for a record S$73.8 million ($54.38 million).
However, Dyson scrapped its automotive division along with plans for the Singapore plant in 2019, citing lack of commercial feasibility. The billionaire then sold his penthouse amid the Covid-19 pandemic at a S$11.8 million ($8.9 million) loss.
Covid Controversy
Dyson, prominent Conservative Party supporter, came under fire from U.K. lawmakers for relocating his company in 2019.
He's again at the center of a controversy after the BBC published a text exchange on Wednesday, in which U.K. Prime Minister Boris Johnson promised him a tax waiver for workers he was bringing in from abroad to develop ventilators for the U.K., in response to Covid-19.
