Moscow-born trader Alex Gerko, who previously renounced his Russian citizenship, has topped the list of top UK taxpayers again.
Gerko, who founded London-based algorithmic trading firm XTX Markets, paid a total of £664.5m in tax last year, beating his own record of £487.4m in 2022, according to The Sunday Times tax list.
Second on the list was 93-year-old British business magnate Bernie Ecclestone, who paid £652.6m to tax authorities.
Ecclestone pushed Bet365 founder Denise Coates and her family, who paid £376m in taxes last year, to third place on the list.
READ Chris Hohn, Alex Gerko, Leonie Schroder: City figures paying the most tax revealed
The list shows the UK’s top 100 wealthiest individuals and families paid a total of £5.35bn in tax last year, up 3% on 2022.
Alongside Gerko, another top name in finance also featured: hedge fund titan Chris Hohn, who paid £91.7m in tax. Hohn’s TCI Fund Management had a bumper 2023, with gains of roughly $13bn.
Peter Hargreaves, co-founder of investment platform Hargreaves Lansdown, paid £33.3m in tax last year.
Gerko’s wealth has surged over the last few years along with his tax bill. According to Forbes, Gerko has a net worth of $11.5bn which places him 169th in the world.
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