The billionaire hedge fund manager Sir Chris Hohn paid himself $479m last year after his Children’s Investment (TCI) fund, recorded a 66% jump in pre-tax profits to $695m.
It is believed to be the highest annual amount ever paid to one person in Britain and equates to £940,000 a day. It is 9,000 times the average UK salary and 1,700 times the amount paid to the prime minister, Boris Johnson.
Hohn’s huge $479m (£343m) payday is significantly higher than the previous record of £323m paid to Denise Coates, the majority shareholder of the betting company Bet365, in 2018.
The staggering amount was paid in dividends from TCI, the hedge fund Hohn set up in 2003, to Hohn’s personal company TCI Fund Management (UK) Limited, according to a filing at Companies House on Monday. The pay was for the year to 29 February 2020.
The accounts for TCI Fund Management (UK) Limited, which is 100% owned by Hohn, show that it holds total shareholder funds of $1.94bn.
Hohn, 54, previously employed the chancellor, Rushi Sunak, to help run his hedge…