Connect with us


Rishi Sunak’s old hedge fund boss paid himself $1.9 million a day this year

News Agencies



The U.K. is in the throes of a cost-of-living crisis, with real wages declining at a record rate this year—but amid the economic turmoil, one of the country’s wealthiest people cashed in on a record payday as his hedge fund’s profits skyrocketed.

Billionaire Chris Hohn, who founded TCI Fund Management in 2003 and serves as its director, paid himself a dividend of almost $690 million this year, documents filed with the British government this week showed—the equivalent of almost $1.9 million a day.

The payout is believed to be the highest annual amount ever paid to a single person in Britain. It is more than 15,000 times higher than the U.K.’s median salary of £33,280 ($40,585), and broke Hohn’s own record that was set when he paid himself $479 million last year.

Representatives for Hohn were not available for comment when contacted by Fortune.


Hohn, a Harvard Business School graduate and son of a Jamaican car mechanic, owns 100% of TCI—the world’s best performing large hedge fund in 2019—and has a net worth of $8.2 billion, according to the Bloomberg Billionaires Index.

His record dividend came after the London-based hedge fund—where serving Prime Minister Rishi Sunak, a multimillionaire, worked for Hohn between 2006 and 2009—saw its pre-tax profits dramatically jump more than 50% year-on-year to surpass $1 billion.

TCI holds stakes in companies including [hotlink]Alphabet[/hotlink], [hotlink]Microsoft[/hotlink] and [hotlink]Visa[/hotlink], according to the Guardian.


Last month, Hohn wrote to Alphabet CEO Sundar Pichai, revealing TCI’s “significant” stake in the Google parent company amounted to $6 billion. In the letter, Hohn urged Pichai to take “aggressive action” to reduce Alphabet’s costs, insisting that “the company has too many employees.”

While TCI is headquartered in London’s high-end Mayfair district, it is owned by The Children’s Investment Fund Management (Cayman) Limited—a parent company based in the tax haven Cayman Islands.


Hohn himself is one of the U.K.’s most prominent philanthropists, giving away $386 million through his charity the Children’s Investment Fund Foundation in 2019.

One of his major philanthropic endeavors is funding efforts to alleviate the climate crisis, which he has made a central pillar of both his charity and his hedge fund.

In the past, he has publicly called for firms that don’t make climate disclosures to be punished, and TCI has threatened to dump its stakes in companies that have no emissions reduction strategies in place. The hedge fund requires companies it invests in to make annual disclosures on their carbon emissions.


Hohn’s payouts to environmental initiatives include thousands of pounds in donations to controversial activism group Extinction Rebellion, a move he said he made because “humanity is aggressively destroying the world with climate change and there is an urgent need for us all to wake up to this fact.”

This story was originally featured on

More from Fortune: The American middle class is at the end of an era Sam Bankman-Fried’s crypto empire ‘was run by a gang of kids in the Bahamas’ who all dated each other The 5 most common mistakes lottery winners make Sick with a new Omicron variant? Be prepared for this symptom

Continue Reading


Breaking News

Editor Pick’s

Latest Entertainment

Entertainment40 mins ago

Britney Spears asks fans to respect her privacy after police welfare check: ‘Things went a little too far’

Britney Spears says things went “too far” after fans called police to her home. (Photo: FilmMagic) Britney Spears broke her...

Entertainment2 hours ago

Amy Robach and T.J. Holmes mediating with ABC amid suspension: ‘It’s all a huge mess,’ says source

T.J. Holmes and Amy Robach’s fate at GMA3 unclear as the two begin a mediation with ABC. (Photo: Getty Images)...

Entertainment6 hours ago

‘Shazam 2’ Trailer Highlights the Villainous Daughters of Atlas

A new Shazam! Fury of the Gods trailer has been released, giving fans a closer look at the upcoming DC...

Entertainment6 hours ago

Salma Hayek’s see-through dress leaves Channing Tatum speechless: ‘I have no comment’

Salma Hayek stuns in a see-through dress at the premiere for Magic Mike’s Last Dance. (Photo: Getty Images) Salma Hayek...

Entertainment6 hours ago

Succession season 4 teaser promises more warring, more Wambsgans, and a wedding

Succession will return for its fourth season March 24, HBO announced today. And we also got us our first, predictably...

Entertainment6 hours ago

Sam Smith Says ‘Changing’ Their Pronouns ‘Felt Like Coming Home’ — but Had Its Challenges

Sam Smith is reflecting on their journey since coming out as non-binary in 2019. In an exclusive clip shared with...

Entertainment6 hours ago

Why ‘Cheers’ favorite John Ratzenberger makes a rare TV appearance in ‘Poker Face’

Natasha Lyonne and John Ratzenberger in the second episode of Poker Face. (Photo: Evans Vestal Ward/Peacock) It’s been 30 years...

Entertainment7 hours ago

This is no joke, this is catering! See Adam Scott and crew in Party Down season 3 first trailer

The gang’s back together in the first trailer for the long-awaited third season of cult fave Party Down. Original stars...


Latest Sports

Sports42 mins ago

How 49ers can exploit Eagles’ biggest flaw to win NFC title game, per Greg Papa

Greg Papa breaks down how the 49ers can take advantage of one of the Eagles' biggest weaknesses in the NFC...

News1 hour ago

How Raptors stifled Kings star in impressive win

On the latest episode of "Strictly Hoops", C.J. Miles and Amit Mann discuss the schemes and strategy behind the Raptors...

Sports2 hours ago

Slight problem: Will Mahomes use chatter as fuel?

Unlike Tom Brady, Michael Jordan and others, Patrick Mahomes has never leaned into slights. Sunday, against the Bengals and Joe...

Sports2 hours ago

Patrick Reed: ‘It’s not like I tried to assassinate Rory McIlroy’

In less than a day Patrick Reed went from calling Rory McIlroy “an immature child” to praising the world No...

Sports2 hours ago

Jack Edwards apologizes to Pat Maroon for body-shaming comments

The Bruins broadcaster apologized to Maroon face to face ahead of Thursday's game in Tampa.

Sports3 hours ago

Ole Miss quarterback room is packed, Brian Kelly accidentally got an extra million dollars & should scholarships be removed from college sports?

Dan Wetzel, SI’s Pat Forde & SI’s Ross Dellenger react to a new in-depth article that covered the North Carolina...

Sports3 hours ago

Astros hire Braves VP Dana Brown, who becomes MLB’s only Black GM

The Braves drafted the 2022 NL Rookie of the Year and the runner-up under Brown.

Sports4 hours ago

Nik Antropov reflects on Evander Kane’s tenure in Winnipeg: ‘Nobody had time for him’

The 14-year NHL veteran said Kane wouldn't listen to anybody, which led to a confrontation with teammate Dustin Byfuglien.

Technology Hot News

Technology1 week ago

Led by "Amazon" and "Microsoft" .. the technology giants are planning to lay off 64,000 employees

After 10 years of driving the stock market bull run, big tech companies are racing to downsize staff to adapt...

Technology1 week ago

Apple introduces MacBooks with new M2 processors

Yesterday, Tuesday, Apple unveiled MacBooks powered by the new, faster “M2 Pro” and “M2 Max” processor chips, in a surprise...

Technology1 week ago

All you need to know about the upcoming Galaxy S23 phones from Samsung

Samsung has officially announced that the (Galaxy Unpacked 2023) event will be held this year on Wednesday, February 1, which...

Technology1 week ago

FTX Exchange Announces Hacking and Stolen $415 Million in Cryptocurrency

Bankrupt American cryptocurrency firm FTX announced today, Wednesday, that $415 million in cryptocurrency has been hacked and stolen from the...

Technology1 week ago

Because of a "fraudulent tweet"… Elon Musk's trial begins

Elon Musk's trial began Tuesday in San Francisco with the selection of jury members who will have to decide whether...

Technology1 week ago

An electric spoon replaces salt and spices, but with conditions

Experts have developed an electric spoon that is able to replace spices and flavors and affect the taste buds in...

Technology2 weeks ago

The biggest dangers of using tracking devices.. so you can escape?

If you spot an unknown Bluetooth tagging device, there are ways to disable the device so it can't track your...

Technology2 weeks ago

New Twitter.. For You tab to web version

The Twitter platform announced that it will bring the new tab (For You), which launched last Tuesday for iPhones and...