Free NewsletterPro Login

Richard Desmond reshapes his empire from Dubai with new Jersey holding company

Published Oct 23, 2026
Share:
Summary:
  • Richard Desmond, 74, who recently disclosed a move to Dubai, formed a Jersey holding company in April called RCD Global Wealth Holdings to sit above Northern & Shell.
  • The overhaul replaces four long standing trusts with a single parent, aligning with Northern & Shell's push abroad and tapping Jersey's dividend-friendly regime.
  • At year end, Northern & Shell logged net assets totaling £397.6 million ($532 million), brought on Emirates NBD PJSC as a banking partner, and is seeking to sell a 15 acre east London property to release cash for moves beyond the UK.

What changed and why he did it

After moving his home base to the United Arab Emirates - a jurisdiction without personal income or capital gains taxes - Desmond reorganized control of his London-based investment company. In April, he registered RCD Global Wealth Holdings in Jersey to own Northern & Shell, replacing a network of trusts he used for more than a decade with one top company.

The streamlined setup reflects Northern & Shell's "increasingly international outlook." Jersey, a UK crown dependency with low taxes, also provides relief on dividends paid overseas, with comparable treatment for UK companies sending payouts to the island.

The numbers and the banking shift

Its portfolio spans London property, a UK lottery stake, and unnamed public stocks.

There is a banking pivot too. The company now lists Emirates NBD PJSC among its lenders after previously naming only UK, US, and Swiss banks over the past decade. It also disclosed that it is pursuing a sale of a 15 acre development in east London, positioning for a liquidity event that could help fund moves beyond the UK. The firm remains subject to UK business taxes, and it reported more than £100 million of tax losses at year end that could offset future bills.

When ownership and residency shifts raise questions for investors, stay informed with the free Market Briefs newsletter for concise daily context

A broader billionaire relocation trend

Nassef Sawiris, an Egyptian investor, and Troels Holch Povlsen, a Danish tycoon, have already withdrawn funds from British companies while paring back their UK residency ties. Fellow British billionaire Chris Rokos is relocating to Greece, where his hedge fund is establishing an office after opening another earlier this year in Abu Dhabi.

"This is a trend," said David Lesperance, a Thailand based tax and immigration adviser to the ultra rich. "The UK's 'golden geese are leaving.'" The immediate exit does not automatically strip tax linked to UK assets, but it can spark restructurings that shift focus and loosen ties as fortunes are rebuilt abroad.

Why this matters to your portfolio

Desmond's playbook shows how domicile, holding companies, banking relationships, and asset sales can move the center of gravity of a fortune. He built his wealth through media - publishing adult titles, buying the owner of the Daily Express and Daily Star for £125 million in 2000, then acquiring Channel 5 a decade later - before selling down those assets from 2014 and turning to property and other ventures. That pivot included an unsuccessful attempt in recent years to operate the UK's National Lottery.

A representative for Desmond did not respond to requests for comment. The Bloomberg Billionaires Index pegs his wealth at about $1.5 billion. The bottom line: if more UK based billionaires reorganize like this, expect more capital and decision making to track where they live, not where they started.

In a complex global economy, get a clear five-minute update each morning from our free Market Briefs to stay ready

Disclosure

Recent News

1 2 3 … 109

Get Market Briefs delivered to your inbox every morning for free!

No fluff. No noise. No politics. Just finance news you can read in 5 minutes.

Blogs

October 16, 2026
How Boring Math Makes You Rich: The Briefs Money Spreadsheet, Explained
  • Briefs Money shows you what to do with every paycheck, and in what order: how much to spend, save, and invest, when to build an emergency fund, and which debt to pay off first.
  • The Climb to Wealth course walks you through the system step by step, and the Personal Finance Spreadsheet is where you track your own numbers.
  • Investing is one piece of building wealth. The system that gets money to your investments, and keeps it there, decides the outcome.
Read More
October 16, 2026
Common Investing Mistakes: Why a Stock Grade Is One Tool, Not the Whole Toolkit
  • The Briefs Score shows growth, income, and wealth preservation investors how well a stock fits their goal, with a separate letter grade for each one.
  • The most common mistake is treating the letter as an instruction. An A tells you a stock scores well for one goal, not that you should buy today.
  • Research works best as one input in a process you own. The grade shows how a stock stacks up. You supply the goal, the timeline, and the rules for being wrong.
Read More
October 16, 2026
How to Read a Company's Numbers Without a Finance Degree (Using Briefs Terminal)
  • Briefs Terminal lets you size up any public company in about ten minutes: what the stock costs, what it earns, how fast sales are growing, and what it pays you, all on one page.
  • It lines those numbers up against the company's closest competitors for you, so you can tell if a number is impressive or just average.
  • Below that are the income statement, balance sheet, and cash flow statement from the company's SEC filings, the latest news, and transcripts of its earnings calls.
Read More
October 16, 2026
What Type of Investor Am I? The Three Investor Archetypes, Explained
  • Briefs sorts its stock grades and monthly reports by three investor goals: growth, income, and wealth preservation. Pick yours and you know which report and which grade to read first.
  • Growth investors want stocks that beat the S&P 500. Income investors want to get paid in cash. Wealth preservation investors want stocks that hold up when the market drops.
  • The same stock can score an A- for one goal and a D- for another, so picking your goal comes before picking any stock.
Read More
October 16, 2026
How to Build a Stock Watchlist That Isn't Just Stocks You Heard About
  • A watchlist on Briefs Terminal lets you group stocks by the idea you're tracking and follow each one's price, one-day move, and 52-week high and low in one place.
  • Each list has its own name and description, so you always know why a stock is on it, and you can make as many lists as you have ideas.
  • The monthly growth, income, and wealth preservation reports under the Briefs Research tab hand you new themes to track that you didn't hear about online.
Read More
October 16, 2026
How to Choose an ETF That Matches Your Idea (Using the ETF Planning Tool)
  • The ETF planning tool takes an idea like "I want to invest in fast food companies," asks what you mean, and finds the ETFs that match, with the reasons, the holdings, and the sources.
  • Build a Plan then shows what your money could grow to in those ETFs over the years you choose, with conservative, expected, and optimistic estimates next to the S&P 500.
  • It gets you from an idea to an actual plan without researching dozens of companies one at a time.
Read More
October 16, 2026
Is This Stock a Good Buy? How to Use the Briefs Score to Tell If a Stock Fits the Way You Invest
  • The Briefs Score shows growth, income, and wealth preservation investors how well a stock fits their goal, with a separate letter grade for each one.
  • One stock can score very differently for each. Nvidia showed an A- for growth and a D- for income, because it grows fast and pays almost no dividend.
  • Seven sub scores under each grade show what earned the letter, so you can see exactly where a stock is strong or weak for your goal.
Read More
October 16, 2026
How to Tell an Asset From a Liability: The One Question to Ask Before You Buy Anything
  • The typical American household earned more in 2025 than in any year on record, yet only 30% of Americans say they could pay a surprise $1,000 bill from savings, so the problem isn't income but what the income gets spent on.
  • An asset puts money in your pocket and a liability takes money out, and the wealthy buy assets first, then let the assets pay for the fun stuff.
  • Before you buy anything, ask one question: does this put money in my pocket, or take money out of my pocket? Then you need a plan for the money you keep.
Read More
October 16, 2026
How to Build Your First $2,000 Emergency Fund and Wipe Out Every Debt Over 10%
  • Your first money goal isn't investing, it's $2,000 in its own account named Do Not Touch, built by moving 10% of every paycheck into it automatically.
  • More than a third of American adults couldn't cover a $400 surprise bill with cash or savings, according to the Federal Reserve, and that's how one bad day turns into years of credit card payments.
  • Once the $2,000 is there, attack every debt charging more than 10% interest, highest rate first, because you can't out-invest a 22% credit card so paying it off is the investment.
Read More
October 16, 2026
How to Invest Through a Crash: 3 Rules From the Worst-Timed Investor Alive
  • Meet Bunty, a fictional investor with the worst timing in history: he put $100,000 into the market in four chunks right before four crashes, never sold, and by 2025 it had grown to more than $500,000.
  • Investors who jump in and out of the market miss its best days, and missing just a handful of those days can cut your final result roughly in half.
  • The fix is ABB, Always Be Buying: you buy on a schedule through booms, crashes and scary headlines, which matches the market, and beating it takes knowing where the money is moving first.
Read More
1 2 3 … 29
Share via
Copy link