The New York Stock Exchange (illustration).
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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, says
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,
Capital
recalls
.
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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Record
Dividend
United Kingdom
Silver
Economy