Ozzy and Sharon Osbourne are the latest celebrities that have decided to flee California and have announced they’ll ditch their Los Angeles mansion for a country house in Buckinghamshire in their native England. The couple, who have been stateside for 20 years, say they’re fleeing the Golden State due to rising taxes.
“We are leaving LA. We are a bit sad. But the tax is getting too much. I am sad because I really really like staying and living there,” the legendary Black Sabbath frontman told Mirror. “If they do the taxes better then I may come back. I do not know.”
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Ozzy, 73, explained that he’s planning to take his studio along with him. The Crazy Train singer says he will produce new music upon his return to the UK. He also revealed that his band members are happy to make the journey over to work with him.
“I am taking my recording studio with me. I am going to build a barn there and make my own studio at Welders. I will still be making music and my band will come over,” he added.
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According to Mirror, the federal tax rate is 28% and there is an additional 13% state tax in California. The Grammy Award winner must pay the hefty tax rate on all of his profits and has decided that leaving not only the state, but the country, is the best way to protect his wealth.
The Godfather of Heavy Metal music is reportedly worth north of $200 million. He got his start in the 1970s as the lead vocalist for the band Black Sabbath, before launching his highly successful solo career. He later ventured into reality TV with MTV’s The Osbournes which helped introduce the rocket to a new generation.
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The family matriarch, Sharon Osbourne, has also found success that has helped her build a similarly massive fortune. Sharon helped manage her husband’s solo career, and has since founded her own management company. She gained worldwide fame as a host of talent competitions like The X Factor and America’s Got Talent.
News of Sharon and Ozzy’s move back to the UK comes after it recently emerged that the couple’s love story will be the subject of a feature film written by Oscar nominee Lee Hall.
Source: Mirror, Variety
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