Skip to content

Billionaire Spencer Cut CME Stake as Stock Recouped From Slump

  • His family office has cut holding in the U.S. bourse to 0.7%
  • IPGL had 1.1 billion pounds in assets at the end of March 2021
Michael Spencer
Michael SpencerPhotographer: Chris Ratcliffe/Bloomberg

Michael Spencer, the billionaire behind one of the world’s biggest financial brokerage fortunes, cut his stake in CME Group Inc. as its shares rebounded following the global outbreak of Covid-19.

Between early 2020 and 2021, the NEX Group Plc founder’s family office sold more than 410,000 CME shares that could have been worth about $90 million, a U.K. registry filing showed this month. The securities rose as much as 43% in that period, rebounding after an initial plunge when the virus crisis started.