Latest news with #XTXMarkets
Bloomberg
17-06-2025
- Business
- Bloomberg
Billionaire Gerko Takes Trader Profit Tax Appeal Over to UK's Top Court
Billionaire Alex Gerko, one of the UK's largest taxpayers, took a legal challenge to the country's highest court arguing that British tax authorities were seeking to impose 'massive double taxation' on deferred trading profits. The XTX Markets Ltd. founder is at the UK Supreme Court this week over the tax treatment of a deferred payment plan while he was still running high-frequency trading strategies at GSA Capital Partners between 2010 and 2015. Judges ruled last year that Gerko and other traders should pay income tax on their share of the trading profits from the fund. The total size of the tax bill is some £22.5 million ($30.5 million).
Times
16-05-2025
- Business
- Times
Billionaire to open maths school for the most talented children
One of Britain's biggest taxpayers is opening the country's first specialist secondary school for exceptionally talented young mathematicians. Alex Gerko, a Russian-born billionaire, has already spent millions of pounds trying to improve numeracy in this country. He is now launching a 'needs blind' private school, offering bursaries to those who cannot afford the fees, which is due to open in September next year in north London. It will be called 1729 Maths School because of the number's significance in maths as the smallest sum of two cubes expressed in different ways (it is known as the Hardy-Ramanujan or 'taxicab' number). Gerko, the founder of XTX Markets, went to a specialist maths school in Moscow from the age of 12 and wants British children to
Bloomberg
14-04-2025
- Business
- Bloomberg
UK's Richest Trader Adds Billions to Wealth as XTX Results Surge
XTX Markets founder Alex Gerko is bolstering his status as Britain's richest trader, leading a recent charge of self-made finance billionaires breaking into the nation's ultra-wealthy elite. Gerko's net worth surged to a record $13.2 billion after the London-based firm reported a jump in 2024 revenue and earnings, more than doubling his fortune over the past two years, according to the Bloomberg Billionaires Index. He's now the world's 164th-richest person, and the third-wealthiest in the UK.
The Independent
09-04-2025
- Science
- The Independent
Rare Alan Turing wartime papers saved for the nation after export bar
A collection of rare project writings by Second World War codebreaker Alan Turing has been saved for the nation after an export bar was placed on them to prevent them being taken abroad. The wartime documents are valued at more than £397,000 and relate to the Delilah project, which developed a portable encryption system for use in military operations. They were saved for the nation after an export bar was placed on them and then funds were raised to buy them – including £250,000 from algorithmic trading firm XTX Markets. There was also a £20,000 grant from the charity Friends of the Nations' Libraries, and more than £97,000 from the National Heritage Memorial Fund, private donations, and King's College, Cambridge. The documents will join the largest collection of Turing-related documents at King's College, Cambridge and – once digitised – they will become part of the Turing Papers online archive, freely available to scholars. Following Turing's ground-breaking work on the Enigma machines at Bletchley Park, he began work on the Delilah project at Hanslope Park to develop a portable encryption system or voice scrambler to protect military secrets in the field. The papers consist of more than 40 pages of unpublished Delilah project notes written by Turing and colleague Donald Bayley. Unpublished evidence of Turing's work has rarely survived. Turing himself did not usually keep research notes, working drafts or correspondence. Secretary of State for Culture, Media and Sport Lisa Nandy said: 'It's brilliant news that the Friends of the Nations' Libraries charity has successfully campaigned to save Alan Turing's vital notebooks. 'Turing was not only a pioneering figure in science and mathematics, but also a national hero. 'This is a powerful example of what can be achieved when private and charitable sectors come together. 'After a Government export ban was placed on the notebooks, this collaboration has ensured that these treasures will be preserved for years to come.' Turing arrived at King's College as an undergraduate in 1931 and was made a Fellow in 1935. The Turing Archive was founded in 1960 following a donation of his papers by his mother, Sara Turing. King's College Provost Gillian Tett said: 'Alan Turing's work laid the foundations of computer science, artificial intelligence and much of our modern world. 'We are honoured to house the 'Delilah' papers at King's and are deeply grateful to our partners in this endeavour.' Geordie Greig, Chair of Friends of the Nations' Libraries, said: 'This extraordinary private donation means that crucial papers written by one of Britain's geniuses have been saved and can studied at Cambridge.' Alex Gerko, Founder and co-chief executive at XTX Markets, said: 'The 'Delilah' papers are a unique collection of notes from one of the nation's greatest mathematicians. 'It's important that this archive remains in the UK and is made publicly accessible, so we are thrilled to be part of that effort.'
The Independent
09-04-2025
- Science
- The Independent
Inside Alan Turing's unpublished WWII code-breaking notebooks
Notebooks containing Alan Turing 's unpublished WWII code-breaking work have been saved for the UK. A fundraising campaign led by Friends of the Nations' Libraries secured the funds to purchase the notebooks, preventing their sale to an international bidder. The notebooks detail Turing's "Delilah project," focusing on building a portable voice encoder. A substantial donation from XTX Markets, along with contributions from other organisations and individuals, enabled King's College, Cambridge, to acquire the archive. The notebooks will be added to the existing Turing collection at King's College and made available online for research and study.
