As Sweden holds legislative elections, the potential reintroduction of a wealth tax has sparked debate and concern among the country’s wealthy individuals. The proposal, backed by the left-wing party and the Greens—both members of a center-left coalition currently leading in the polls—aims to introduce a tax on billionaires. While the social democrats, who are leading the coalition, have not yet supported the idea, several high-profile entrepreneurs have warned that such a tax could lead to them leaving the country. Martin Lorentzson, co-founder of Spotify, has said he would leave Sweden "immediately" if a wealth tax were introduced. He argues that the economy is not a static "cake" that can simply be sliced up, but rather a dynamic system that can grow and develop. Lorentzson acknowledges his willingness to pay taxes but opposes a wealth tax, which he believes could discourage entrepreneurs from staying in Sweden. He points to historical examples, such as the departure of companies like Ikea and Tetra Pak in the 1970s and 1980s, which he claims were driven by heavy taxation. Ida Gabrielsson, a spokesperson for the left-wing party, argues that even a small increase in taxes on the wealthy would not make Sweden less attractive. However, Klas Tikkanen, a manager at Nordic Capital, warns that introducing a tax on the wealthy could undermine Sweden’s recent efforts to lower taxes, leading to a significant exodus of the wealthy. Tax lawyer Mattias Schömer notes that some of his clients—entrepreneurs and investors—are already preparing to leave, sometimes relocating both their tax residence and company headquarters. Sweden is home to the highest number of "unicorns" per capita in Europe—startups valued at over $1 billion. Tikkanen argues that reintroducing a wealth tax could harm the entire Swedish economy, not just a few billionaires. Robert Falck, founder of Einride, shares similar concerns, pointing out that large fortunes may not be easily liquidated and could consist of company shares. Lorentzson adds that a wealth tax might force entrepreneurs to sell shares to pay taxes, which could hinder company growth. He also challenges the coalition’s claim that the tax would reduce inequality, arguing that inequality measures wealth distribution, not overall prosperity.