RT.com
29 Jan 2023, 16:13 GMT+10
Alexander Gerko paid more than $600 million to the British state last year, outpacing gambling magnate Denise Coates
Russian-born billionaire Alexander Gerko became the UK's top taxpayer last year, according to the Sunday Times Tax List published on Friday.
Gerko, 43, has contributed more than Pound 487 million ($601 million) to Britain's public finances in just 12 months. It is equivalent to more than Pound 1.3 million in tax a day - or Pound 55,639 an hour. This is up from the Pound 117.4 million he paid the previous year, when he ranked in tenth place.
By taking the top spot on the list of the 100 biggest taxpayers in the UK, Gerko outpaced the head of Britain's gambling empire Bet365, Denise Coates, who paid Pound 460.2 million ($569 million) in tax last year. The owner of sport and fashion brands Speedo, Kickers and Berghaus, Stephen Rubin, who paid Pound 392.3 million ($485 million) in tax, was in third place.
Harry Potter author JK Rowling and Sting are also featured among the UK's highest taxpayers.
Gerko was born in Moscow and received a doctorate in mathematics from Moscow State University. He began his career trading equities at Deutsche Bank AG and later shifted to foreign exchange.
He has been a British citizen since 2016 and recently renounced his Russian citizenship. In 2015, Gerko founded London-based trading company XTX Markets and owns 75% of the firm. XTX handles almost $300 billion in daily volume across equities, commodities, currency and fixed income, according to Bloomberg.
Gerko is estimated to have a $6.4 billion fortune through his majority stake in the business, according to the Bloomberg Billionaires Index. The company, whose year on year profit in 2021 increased 42% to Pound 667 million, is expanding and has offices in New York, Paris, Singapore, Mumbai and Yerevan, Armenia.
For more stories on economy & finance visit RT's business section
(RT.com)
Get a daily dose of Germany Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Germany Sun.
More InformationDUBLIN, Ireland: Ireland has set a record as unemployment fell to 3.8 percent in May, according to the Central Statistics ...
WARSAW, Poland: Plans are underway in Poland to gradually raise the minimum wage twice in 2024. The wage plan has ...
DUBLIN, Ireland: Ireland's homeowners and businesses expect to see still more reductions in the cost of natural gas as the ...
BEIJING, June 2 (Xinhua) -- The following are the central parity rates of the Chinese currency renminbi, or the yuan, ...
© Provided by Xinhua A debt default by the United States would have a catastrophic knock-on effect around the world, ...
NEW YORK, June 1 (Xinhua) -- The U.S. dollar suffered substantial losses on Thursday as disappointing economic data in the ...
DUBLIN, Ireland: Ireland has set a record as unemployment fell to 3.8 percent in May, according to the Central Statistics ...
PORTLAND, Maine: Fishermen in the US's only commercial-scale fishing industry for valuable baby eels, called elvers, have recorded a productive ...
WARSAW, Poland: Plans are underway in Poland to gradually raise the minimum wage twice in 2024. The wage plan has ...
BEIJING, China: China will put into commercial operation its first large passenger airliner, in a bid to challenge western plane ...
DUBLIN, Ireland: Ireland's homeowners and businesses expect to see still more reductions in the cost of natural gas as the ...
SAN FRANCISCO, California: Sam Altman, CEO of ChatGPT-maker OpenAI, has said the company could consider leaving Europe if it could ...