A HEDGE fund boss has scored Britain’s largest ever wage of £343million – incomes him a complete of £940,000 a day.
Sir Chris Hohn, 54, based The Youngsters’s Funding Fund Administration (TCI) in 2003 and has since seen income rise to £499million.
His monumental pay packet is 2,000 occasions greater than the Prime Minister Boris Johnson’s wage and is believed to be the best annual determine paid to any particular person within the UK.
It was paid in dividends to TCI Fund Administration in response to Firms Home.
The earnings break the earlier report held by the founding father of the web playing firm Bet365, Denise Coates, who made £323million in 2018, the Daily Mail experiences.
Hohn’s Mayfair-based hedge fund enterprise holds main stakes in Microsoft, Visa, Google’s proprietor, Alphabet, and a Canadian oil transportation firm.
And accounts present TCI has whole shareholder funds of just about $2 billion.
Hohn, the son of a automotive mechanic, was born in Surrey and graduated from the College of Southampton in 1988.
He then went on to work with Apax Companions, a non-public fairness agency.
After engaged on Wall Avenue for Perry Capital, he arrange TCI in 2003, the place the Chancellor Rishi Sunak labored for him as a junior analyst between 2006-2009.
He was beforehand concerned in one among Britain’s heftiest divorce settlements, paying out £337 million to his ex-wife, and can also be recognized to be one of many extra beneficiant tycoons from the hedge fund world.
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In 2019, he gave a £50,000 boost to the global environmentalist movement Extinction Rebellion after saying it was an “urgent need” to stop humanity from destroying the world with climate change.
The billionaire, who was knighted in 2014 for his philanthropy, also wrote to seven of the world’s biggest asset managers last year, urging them to encourage companies to become more environmentally friendly.
He later told The Financial Times: “The asset management industry is a joke in respect to what they are actually doing [around climate change]. They talk but they don’t actually do anything effective. Asset managers are sheep.”