The global movement to tax billionaires, much to the dismay of the 1%, is gaining steam. Sure, wealth taxes are not a panacea for the ruinous problems caused by capitalism, but the fact that the rich hate them is a good reason to pursue them further.
it works if its actually tried. You have to make it that having anything to do economically with a country results in tax. If they don’t then that is fine as their money pool is now completely out of your system.