Martin Lorentzon, Spotify's cofounder, said he would leave Sweden immediately if the country adopts new taxes on large fortunes. In comments sent by email to Bloomberg, Lorentzon responded "yes, definitely" when asked if he would consider a change, saying he would prefer to stay, but that a tax of this type would mean he would have to leave immediately.
The billionaire's warning comes as the Left Party campaigns for the creation of a billionaire tax and the Green Party proposes separate taxation on the wealthiest. Both are part of the center-left opposition led by the Social Democrats, who are competing in this month's elections in Sweden.
The proposals have raised concerns that they could drive entrepreneurs and capital abroad. The article also mentions related studies: an international study indicates that a minimum 2% tax on large fortunes in Brazil would raise R$30 billion per year, while another study shows that a tax on the super-rich in Latin America would raise US$24 billion per year.
