Tycoon Moves $6 Billion Fortune to Switzerland From Caribbean
- U.K.’s Anthony Bamford previously kept shares in Curacao
- He and his family control construction-equipment maker JCB
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Anthony Bamford, the billionaire chairman of excavator maker JCB, has transferred his shares in the firm’s Caribbean holding companies to Switzerland, altering arrangements that fostered his family’s fortune for decades.
JCB Group Holdings Sarl, based in the Swiss canton of Vaud, now holds shares that the British tycoon and his family control in one of the world’s largest closely held construction-equipment makers, filings show. They previously managed the stock through entities based in Curacao, a Dutch Caribbean island that once flourished as a low-tax territory for foreign businesses and wealthy individuals.