British billionaire slashes the price of his London mansion by $13 million, saying the rich are fleeing the UK. See inside the storied property.

British billionaire David Sullivan has reduced the asking price of his London mansion by approximately $13 million, now listing it for £65 million.

Sullivan acknowledged taking a loss on the sale, stating, 'you have to be realistic' about the current economic conditions and property market.

He expressed concerns over the government's planned tax changes, which he believes are forcing wealthy individuals to leave the UK, stating that 'three or four of my friends already have gone to Monaco or Dubai.'

Real-estate firm Knight Frank noted a significant decline in transactions in London's super-prime market, experiencing a 22% drop compared to the previous year.

Read at Business Insider