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Hedge fund billionaire Sir Chris Hohn paid himself £1.5m a day. year’ | hedge funds

Billionaire Hedge Fund manager Sir Chris Hohn paid himself record- Breaking $690m (£574m) year after his Children’s Investment (TCI) fund recorded a surge in profit.

A payout from a hedge fund in Mayfair, where prime minister Rishi Sunak, active from 2006 to 2009, is the largest ever assembled by Khon and is considered highest annual amount ever paid one human in Britannia. It’s equal to more than £1.5 million a day.

Dividend payout from TCI Fund Management is 15,000 times The average salary in the UK is about 3500 times who collected Sunak as PM. Accounts filed with Companies House on Tuesday show in money was paid to another company controlled by Hon. It is understood that Hong reinvested the windfall in TCI.

Sum for in year by the end of February up from $152 million in the previous year and also up from the previous record of $479 million year before. representative for the company did not respond to inquiries for comment.

Luke Hildyard of High Pay Centre, who campaigns against excessive wages for executives, called for higher taxes on the highest paid, such as Hong. “Hedge fund profits come from the corporations they invest in. in and fees charged to them super“rich clients,” he said.

“It would be easy for policies to get corporations and superthe rich to pay their employees more and pay a little more tax means a lot of this £575 million will go towards support income of ordinary workers or vital funds public Services instead”.

hon, son of Jamaican car mechanic who emigrated to UK in 1960s set up OTK in 2003 and has built up personal fortune of more According to the Bloomberg Billionaires Index, he is worth over $8.2 billion.

Hohn and TCI are famous for aggressive campaigning for changes in the companies they invest in in. Earlier this month he called on Google owner Alphabet to take ‘aggressive action’ on expenses. “The company has too many employees and cost per employee too high,” he said. in a public letter.

Foundation known for this is campaign against Dutch bank ABN Amro, which led to its sale to Royal Bank of Scotland viewed as key reason for The collapse of RBS in time financial a crisis.

Hedge fund founded in townhouse mayfair couple of doors down from the flagship Louis Vuitton store, eventually owned parent Company in Cayman Islands, tax haven.

Hon also one of Britain’s biggest philanthropists, and pumped more over £4 billion in his personal children’s charity. In recent years he has also taken on in cause of climate crisis, promising use his fund is $35 billion. of investment inforce change on companies who refuse to take their emissions into the environment seriously.”

He is the largest sponsor of Extinction Rebellion. on Account of “urgent need” for people to wake up to the climate emergency. “Recently I gave them £50,000 because humanity aggressively destroys world with climate change and there is an acute need for us everything to wake up up to that factHong said. in 2019. His charity is believed to have donated a further £150,000.

hon, who gave only a handful of tightly controlled media interviews throughout his career, pleaded with the Supreme Court judge who oversaw his 2014 divorce from Jamie Cooper-Hone banned media from the courtroom.

However, the request was denied, because. public a look at the amazingly modest lifestyle of a billionaire, his motives for do so much money and why doesn’t he view his wife of 17 years old as worthy of half of in family luck.

Although he was in a fight over Huge amount of money Hong said his life mission It was give money away. “My life is really dedicated to charity,” he told the court. “I learned very early on you can’t take money with you. It doesn’t bring you happiness.”

He said he lives a “very simple lifestyle” and avoids meat and practices yoga. After hearing the evidence, the judge noted that the couple lived a “Swatch lifestyle” rather than a “fast-paced lifestyle.”set Lifestyle”.

hon, who increased up in Addlestone, Surrey, he said first I decided give money do charity work in Philippines where he saw children life on garbage dump.

“I thought about becoming a doctor and working in caring professionHong, 54, told the court. “[But] a dream or there is a desire without resources just what.” He compared his ambition to become a philanthropist to others young people who set their hearts on to be capable of “play for Chelsea or be the best QC.”

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Adrian Ovalle
Adrian Ovalle
Adrian is working as the Editor at World Weekly News. He tries to provide our readers with the fastest news from all around the world before anywhere else.

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