Boss at Mayfair hedge fund TCI gets £575m dividend – but it won’t go in his pocket
The boss at a Mayfair hedge fund management company has been given more than a half-a-billion dividend, which will be reinvested in companies it runs.
Sir Chris Hohn of TCI Fund Management gave himself £575m after a rise in profits, but it is understood it won’t be going into his bank account, according to The Times.
The cash is set to be paid into other firms controlled by the 56-year-old billionaire, with TCI (the Children’s Investment) set to benefit from the payday.
Hohn, who also runs the Children’s Investment Fund Foundation, was once the boss of now prime minister Rishi Sunak, who was a partner at TCI until 2009.
The payout is up from the $152m in February, and also up on the previous record single dividend of £343m.
TCI also had a big spike in pre-tax profits to $875m, up from $340m last year, according to accounts on Companies House.
TCI has been approached for comment.