Economy Boss pays himself $ 479 million in dividends, a...

Boss pays himself $ 479 million in dividends, a record in the country

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The New York Stock Exchange (illustration). – NEW CHINA / SIPA

The head of The Children’s Investment Fund (TCI), a British hedge fund, has reaped a record dividend approaching half a billion dollars, reports Capital. For the fiscal year 2020 which ended at the end of March, Christopher Hohn, who owns this 100% hedge fund, pocketed a compensation of $ 479 million. This represents the highest salary ever paid to an individual in the UK specifies The Guardian. For comparison, this is the equivalent of 9,000 times the country’s average salary.

Christopher Hohn beats the previous record held since 2018 by Denise Coates by a few million. The founder of the British online betting site Bet365 had collected in salaries and dividends 323 million pounds over a year, or nearly 450 million dollars. The new record is therefore 29 million higher.

$ 30 billion in assets in 2019

For fiscal 2019, the boss of TCI had collected $ 261 million. But in one year, profit has improved significantly from $ 420 million in 2018-19 to $ 695 million in 2019-2020. As a result, the dividends paid to the manager also increased. Fifteen years after its founding in 2003, TCI managed $ 30 billion in assets, recalls Capital.

The company has taken holdings in several companies with the idea of ​​changing the strategy to ensure greater respect for the environment. According to a document published in the Trade Register at the end of last week, the executive, who is incidentally one of the UK’s biggest patrons, has reinvested most of his 2020 dividends.

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