City Of London
Billionaire Quant Trader Alex Gerko Named UK’s Biggest Taxpayer
- Sunday Times estimates Gerko contributed about £487 million
- Gerko replaces gambling mogul Denise Coates at top of ranking
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Alex Gerko built a quantitative trading firm over the past decade that handles almost $300 billion in daily volume across equities, commodities, currency and fixed income. It’s made him a billionaire several times over, and it’s now earned him the status of the UK’s biggest taxpayer.
The XTX Markets founder contributed about £487.4 million ($602.5 million) to Britain’s public finances in the past year or so, according to the latest Sunday Times Tax List. The former Deutsche Bank AG trader’s London-based firm paid a dividend of almost £1.3 billion in March as it reaps the benefits of volatile markets.