Latest news with #TavistockGroup
Bloomberg
04-07-2025
- Business
- Bloomberg
Joe Lewis' $8 Billion Empire Loses Top Executive in Power Shift
The top executive at Joe Lewis' investment firm has left after working for the UK billionaire for more than two decades, leaving a younger crop of leaders atop the currency trader's global empire. Shehan Dissanayake departed Tavistock Group for personal reasons after most recently serving as the firm's chairman, according to a person with knowledge of the matter. The 58-year-old Sri Lankan native, who still appeared on Tavistock's website in late 2024, is also no longer based in the US, said the person, who asked not to be identified as the details are private.
Scotsman
08-06-2025
- Business
- Scotsman
The 10 richest people in the UK in June 2025
Discover the stories behind the UK's top billionaires 💼 Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... The UK's wealthiest individuals come from varied sectors including finance, technology, real estate, and manufacturing These billionaires have amassed fortunes through founding and leading major companies, innovative investments, and strategic business moves The list includes hedge fund founders, tech entrepreneurs, industrial giants, and property investors shaping the UK economy Several have international ties, reflecting the global nature of their businesses and investments Their combined influence extends beyond wealth, impacting industries, sports, and philanthropy across the UK and worldwide The UK is home to some of the world's most influential and wealthiest individuals, spanning diverse industries from finance and technology to real estate and manufacturing. These 10 billionaires have built their fortunes through innovation, strategic investments, and leadership of major global enterprises. Advertisement Hide Ad Advertisement Hide Ad From hedge fund pioneers and tech disruptors to industrial magnates and property moguls, this list highlights the UK's top wealth holders, showcasing their achievements, business empires, and impact on both the national and global stage. 10. Joe Lewis ($7 billion/£5.2 billion) (Photo: Michael M. Santiago/Getty Images) | Getty Images In January 2024, Joe Lewis pled guilty to insider trading for sharing confidential information with his pilots and an ex-girlfriend. He was sentenced to three years probation and fined $5 million. He is currently living on his yacht, Aviva, in the Bahamas. Lewis owns the Tavistock Group, which holds over 200 assets across 13 countries. As a result of his conviction, he is expected to resign from board positions in U.S.-listed public companies and relinquish some ownership stakes. Advertisement Hide Ad Advertisement Hide Ad Through Tavistock, Lewis owns Premier League football club Tottenham Hotspur and holds a stake in UK pub operator Mitchells & Butlers. Born above a pub in London's East End, Lewis helped his family grow a catering business before selling it and becoming a currency trader. 9. Alexander Gerko ($7.5 billion/£5.5 billion) Alexander Gerko, a former FX quant trader at Deutsche Bank and head of FX trading at GSA Capital, founded the algorithmic trading firm XTX Markets in 2015. He now serves as Co-CEO of XTX, which reported record profits in 2021 and became the top provider of emerging market FX in 2022. Advertisement Hide Ad Advertisement Hide Ad Originally from Russia, Gerko has lived and worked in the U.K. since 2006 and holds British citizenship. According to PitchBook, he has made angel investments in 62 companies, including Compology, which offers AI solutions for waste and transportation, and Yet Analytics. In 2022 alone, Gerko received more than $1 billion in dividends from XTX. XTX later filed a lawsuit against Trump's former accounting firm, Mazars, after it declined to work with the company due to Gerko's Russian origins. Advertisement Hide Ad Advertisement Hide Ad 8. Nik Storonsky ($7.9 billion/£5.8 billion) Nik Storonsky is the cofounder and CEO of Revolut, a UK-based financial services company valued at $45 billion by private investors in August 2024. He holds an 18% stake in Revolut, which offers a wide range of services including currency exchange, fee-free ATMs, global money transfers, and budgeting tools. Now one of Europe's leading unicorns, the company processes 590 million transactions per month and serves 45 million retail customers. Storonsky began his career trading derivatives at Lehman Brothers and renounced his Russian citizenship in 2022 following Russia's invasion of Ukraine. Advertisement Hide Ad Advertisement Hide Ad 7. Denise Coates ($8.4 billion/£6.2 billion) () | Getty Images Denise Coates is co-CEO of Bet365, one of the world's largest online gambling companies, which she runs alongside her billionaire brother, John. Originally trained as an accountant, Coates took over several of her family's betting shops before selling them to bookmaker Coral. Recognising the growing potential of online gambling, she purchased the domain in 2000 and launched the platform the following year. She owns roughly half of the privately held company, which processes over $65 billion in bets annually. Advertisement Hide Ad Advertisement Hide Ad 6. Christopher Hohn ($9.2 billion/£6.8 billion) () | Getty Images Activist investor Chris Hohn founded The Children's Investment Fund, a London-based hedge fund, in 2003. Today, the fund manages $58 billion and holds large, focused stakes in companies such as Microsoft, Visa, and General Electric. Hohn donates a portion of the firm's profits to the Children's Investment Fund Foundation, which now has an endowment of over $6 billion. The son of a Jamaican car mechanic, Hohn studied at Southampton University in the UK before earning an MBA from Harvard. Advertisement Hide Ad Advertisement Hide Ad He began his career in consulting and private equity, later joining Richard Perry's hedge fund, Perry Capital, in 1996. 5. Anthony Bamford & family ($9.6 billion/£7 billion) (Photo: ARTHUR EDWARDS/POOL/AFP via Getty Images) | POOL/AFP via Getty Images Anthony Bamford and his family own JCB, a construction equipment powerhouse generating nearly $7 billion in annual revenue. The company was founded by his father in 1945 in a garage in Uttoxeter, England. Today, JCB sells its machinery in 150 countries, with customers including the U.S. military. 4. Simon & David Reuben ($13.4 billion/£9.9 billion) Simon and David Reuben share a vast fortune in real estate, technology, and investments. Advertisement Hide Ad Advertisement Hide Ad In 2016, they sold a 49% stake in their data centre company, GlobalSwitch, to a Chinese investor consortium for nearly $3 billion. Two years later, they sold an additional 25% for $2.7 billion to a group of Asian institutional and private investors. Born in Mumbai and raised in the U.K., David began his career trading metals, while Simon imported carpets and invested in property. Their trading firm, Transworld, was active in the aluminium markets of Russia and Kazakhstan during the 1990s. Advertisement Hide Ad Advertisement Hide Ad Today, the Reuben family holds an estimated 14% stake in Premier League club Newcastle United FC. 3. James Dyson ($15.3 billion/£11.3 billion) (Photo:for Dyson) | Getty Images for Dyson Frustrated with his family's underperforming vacuum, James Dyson set out in 1978 to create a better one, using cyclone technology to separate dirt from air. Today, Dyson employs more than 5,000 engineers globally and announced in 2020 that it would invest the equivalent of $14 million per week in product development through 2025. In 2019, the company abandoned its electric car project, citing a lack of commercial viability. Advertisement Hide Ad Advertisement Hide Ad Despite attending art school in London and not holding an engineering degree, Dyson has become a pioneer in design and innovation. His company's popular line of intelligent air purifiers claims to have generated the most accurate global data on indoor air quality. 2. Sir Jim Ratcliffe ($16.8 billion/£12.4 billion) (Photo: BERTRAND GUAY/AFP via Getty Images) | AFP via Getty Images Former chemical engineer James Ratcliffe is the founder, chairman, and majority owner of Ineos Group, a $68 billion (2022 revenue) chemical giant. Headquartered in London, Ineos manufactures a wide range of products—from synthetic oils and plastics to solvents essential for producing insulin and antibiotics. Advertisement Hide Ad Advertisement Hide Ad The company is a major player in the UK's shale industry, with its 600-foot 'Dragon Ships' pioneering the transport of US shale gas to Europe. Ratcliffe mortgaged his home in 1992 to finance the buyout of a BP chemicals unit, and six years later, he used assets from that deal to establish Ineos. In 2021, Ineos acquired two chemical divisions from BP for $5 billion, and in 2022, it launched petrochemical joint ventures with Sinopec worth over $7 billion. In 2023, Ineos expanded further by purchasing $1.4 billion in US onshore oil and gas assets from Chesapeake Energy. Advertisement Hide Ad Advertisement Hide Ad Most recently, Ratcliffe took a 28% stake in Manchester United, investing $1.5 billion over two months ending in early 2024. 1. Michael Platt ($18.8 billion/£13.8 billion) Michael Platt is the cofounder and CEO of BlueCrest Capital Management, which he launched in late 2000 following nearly ten years at JP Morgan. He grew BlueCrest into one of the largest hedge funds in the world, at one point overseeing more than $35 billion in assets. After a challenging foray into equities and a period of underperformance that triggered investor withdrawals, Platt returned all outside capital in 2015 and transformed BlueCrest into a private family office. Since then, the firm has thrived - delivering standout returns, including 153% in 2022 and 95% in 2020, with no annual performance dipping below 20%.
