Britains Biggest Taxpayer Alex Gerko Pays Record £682 Million to Himself After Profits Surge at High Tech Trading Firm

Alex Gerko 46 has cemented his status as one of the UKs most influential financiers by awarding himself a record breaking 682 million pounds following a substantial leap in profits at his pioneering trading company XTX Markets Last year Gerko the brains behind the London based firm shared in a bumper profit pool of 1 point 28 billion pounds divided among 31 partners thanks to the continued success of his algorithmdriven strategies

Renowned as Britains top individual taxpayer Gerko contributed a remarkable 665 million pounds in 2023 alone bringing his personal fortune to an estimated 12 billion pounds according to The Sunday Times Rich List His expertise in computer science and the advanced technological edge wielded by XTX Markets have kept the firm at the forefront of high frequency trading handling around 250 billion dollars about 185 billion pounds in transactions every single day

Gerko who renounced his Russian citizenship in 2022 after the invasion of Ukraine has channelled considerable resources into philanthropy and education He is the majority owner of XTX Markets holding a 75 per cent stake and his business acumen has not only delivered vast wealth but also opportunities to fund maths schools conservation projects and cultural institutions such as the London Symphony Orchestra

The success of XTX Markets relies heavily on supercomputing infrastructure most notably vast arrays of Nvidia processors in Iceland which fuel complex predictive models capable of outmanoeuvring rival market participants This technical prowess has allowed the firm to carve out a modest but vital advantage in the intensely competitive trading world

Gerko is also recognised for his forthright stance on taxation and public discourse Having previously supported the notion of a wealth tax he maintains a visible presence on social media platforms such as LinkedIn where he comments candidly on issues like the UKs online safety legislation and broadcast coverage of the Gaza conflict He has voiced concern over threats to freedom of speech in Britain warning that restrictions could soon mirror those experienced in Russia

A recent legal setback saw Gerko and staff from his former employer GSA Capital lose a case over the taxation of partnership payments between 2010 and 2015 HMRC ruled for higher income tax rates to apply rather than corporation tax Gerko dismissed the financial impact as minimal compared to his overall tax contributions and pledged to challenge the decision in the Supreme Court

His philanthropic reach extends to significant investments in artificial intelligence including stakes in leading companies like Anthropic and Wayve Gerkos influence in finance technology education and charitable activities marks him as one of the most consequential figures in Britains business landscape today