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Norway's Wealth Tax Sparks Millionaire Exodus Amid Controversy

11/24/2025

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Summary

Story summary

Norway's wealth tax, in place since 1892, has driven a significant exodus of millionaires.
Critics say it hampers startup performance by taxing capital before profits.
Supporters say it redistributes wealth and funds essential services.
The Labour Party government, returned to power in September, plans to keep the tax while tightening exit rules.

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Story summary

Norway's wealth tax, in place since 1892, has driven a significant exodus of millionaires.
Critics say it hampers startup performance by taxing capital before profits.
Supporters say it redistributes wealth and funds essential services.
The Labour Party government, returned to power in September, plans to keep the tax while tightening exit rules.