The former chief executive of the Caudwell Group sold his 85% stake to private equity firms Providence Equity Partners and Doughty Hanson in 2006, netting himself US$2.3 billion. Caudwell has paid a nine-figure tax bill in the past three years and is forecast to pay a further nine-figure sum between now and the end of January 2013.
He now spends most of his time managing and fundraising for his Caudwell Children charity and investing in start-up companies.
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The Wall Street Journal quotes a spokesman for Caudwell as saying: "Mr Caudwell has chosen not to compromise his life with friends and family by going into tax exile."
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