How A Mechanic's Son-Turned-Billionaire Paid Himself A Salary Of Rs 9 Crore A Day This Year

Having a salary of Rs 9 crore per year surely feels like a dream for most of us, right? However, just imagine having a Rs 9 crore salary, but not per year, but in fact, per day. As crazy as it may sound, this is how much a UK-based billionaire paid himself as salary this year.

Who Is The Billionaire Who Paid Himself Rs 9 Crore A Day Salary This Year?

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Billionaire British hedge fund manager Sir Chris Hohn paid himself $346 million (Rs 2,885 crore) this year for every working day. With approx 320 working days in a year, this handsome salary turns out to be a mammoth Rs 9 crore per working day this year.

Also Read: This Beer Billionaire Reveals Why He Buys A Random Stock Once Every Two Weeks

Where Does He Work?

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This is the payout the 57-year-old billionaire received as a dividend this year from his TCI hedge fund, The mammoth dividend payment is still 8,000 times the average UK salary and about 1,700 times that collected by Rishi Sunak as UK Prime Minister.

The ?276 million payment works out at ?1.1 million for every working day of the year. Accounts filed at Companies House last week show the money was paid to another company controlled by Hohn. It is understood Hohn reinvested the windfall in the Children¡¯s Investment (TCI), as per The Guardian.

Hohn is the son of a legal secretary and a Jamaican-born car mechanic who emigrated to Britain in the 1960s, set up TCI in 2003 and has built up a personal fortune of more than $6.23 billion, according to the Bloomberg Billionaires Index.

What Connection Does UK PM Rishi Sunak Have With The Company?

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UK PM Rishi Sunak had worked at TCI between 2006 and 2009. As per Bloomberg, Sunak spent his late twenties at TCI working as an analyst and supported senior portfolio managers in their activist campaigns, an approach that made Hohn and his investment firm famous.

Also Read: The Company That Made Steve Jobs A Billionaire For The First Time

Why The Billionaire Is Called UK's Most Generous Man?

Hohn would be far richer if he had not given so much money to charity. Earlier this year he was named ¡°UK¡¯s most generous man¡± by the Sunday Times rich list. His Children¡¯s Investment Fund Foundation (CIFF) charity had given away ?755 million in 2021. CIFF charitable giving by him reduced to ?390 million in 2022, according to accounts filed with the Charity Commission.

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