Fact Service March 2021

Issue 9

Manager ‘is paid £940,000 a day’

A billionaire hedge fund boss has set a new UK record by paying himself £343 million last year, according to the Guardian newspaper.

Sir Chris Hohn reportedly paid himself the equivalent of £940,000 a day, after his Children’s Investment (TCI) fund recorded a 66% jump in pre-tax profits. This is believed to be the highest annual amount ever paid to one person in Britain and is 9,000 times the average UK salary and 1,700 times the amount paid to the prime minister.

The report notes that Hohn is one of the UK’s more generous philanthropists, and gave away £277 million in 2019.