Use wealth to control your surroundings

The function of wealth - being wealthy - is to be as much in control of one's surroundings as possible. British-Indian steel magnate Lakshmi Mittal's reported move to leave Britain for Switzerland and Dubai before the Labour government's anticipated 'tax heave-ho' budget announcement tomorrow kicks in, continues the trend of HNIs leaving that country for friendlier shores. Along with the end of non-domiciled ('non-dom') tax status in April, tomorrow's budget is expected to bring in an inheritance tax that would apply to all assets regardless of their location. Currently, only assets in Britain come under the tax. So, even as ArcelorMittal's business architecture - as with most mega corporations in this day and age - is location-agnostic, its executive chairman's 'Brexit' would be a giant billboard for Britain's continuing HNI exodus. For the ultra-rich, this subversion of the Westphalian 'notion'-state is not just logical but also desirable.

Such a trend also applies to less stratospheric HNIs. Blink Digital co-founder-CBO Rikki Agarwal recently announced he would be moving from Mumbai to Bangkok 'Not for tax breaks. Not to escape. Definitely not for some dramatic life pivot' - even though all these are legit enough reasons to relocate - but for 'something much simpler: I want to live better.' A week ago, Hotmail co-founder was less apologetic when he stated, 'Air is unbreathable. Water is undrinkable. Food is adulterated. What's the point of becoming the 4th largest economy if people can't even live with dignity?'

Mittal and Agarwal's reasons for leaving their countries may seem different. But both point to the same aspect of utilising wealth to make life, of which business is part of, better. If Britain's policy of putting the screws on the super-rich is good reason enough for Mittal to up and leave, India's infrastructural shortcomings and pollution provide ample reason for Agarwal's shift to a better quality of life in Thailand. Countries, and states, should compete to get Mittals and Agarwals to come and live in their backyards.