How son of car mechanic pocketed £940,000 every day in ‘record UK salary’

A car mechanic's son who went on become a hedge fund billionaire is now thought to be Britain's record earner, according to reports.

Sir Chris Hohn, 54, pocketed a whopping £940,000 every day – or £343million a year – last year, reports claim.

The reclusive investor, who is a former boss of Chancellor Rishi Sunak, raked in the packet after his firm The Children's Investment Fund Management (TCI)'s pre-tax profits rose by 66% to £449m.

His £343m salary – thought to be a UK record – is 2,000 times more than Prime Minister Boris Johnson, reports DailyMail.

The son of a Jamaican car mechanic, Sir Chris was born in Addlestone, Surrey.

He graduated from the University of Southampton with first-class honours in accounting and business economics in 1988.

He worked for private equity firm Apax Partners before moving to Wall Street hedge fund company Perry Capital. He was later promoted to head of the business's London operation in 1998.

Five years later, Sir Chris launched TCI Management, which invests in companies such as Microsoft, Visa and Google's parent company Alphabet.

Between 2006 and 2009, Rishi Sunak was employed by the firm as a junior analyst.

Sir Chris donated £200,000, including £50,000 from his own personal fortune, to climate activism movement Extinction Rebellion in 2019.

Sir Chris was ordered to pay his ex-wife Jamie Cooper, who he co-founded The Children's Investment Fund Foundation with, £337m following their divorce in 2014.

During the case, the couple, who had homes in London, the United States and the West Indies – had fought over assets totalling more than £700million at the High Court before a judge finally settled on the staggering sum.

Ms Cooper – who co-funded The Children's Investment Fund Foundation with Sir Chris – later said she had considered appealing the ruling after being awarded £200million less than she wanted, but decided against it.

During proceedings at the High Court, Ms Cooper said she wanted a further £200m, but decided not to appeal the ruling.

She told the court: "I have chosen not to appeal this judgment, and instead focus on my passions: transforming children's lives in the developing world and raising my own children.

"I firmly believe, however, that the so-called 'special contribution' doctrine used in this case is outdated and unjust in disproportionately valuing the generation of wealth.

'It dismisses the important contributions that those who take on the responsibility to raise children and work in less lucrative sectors make to our society.'

Source: Read Full Article