Russian-born billionaire emerges as biggest taxpayer in UK| MENAFN.COM

Friday, 31 March 2023 10:40 GMT

Russian-born billionaire emerges as biggest taxpayer in UK

(MENAFN) According to the Sunday Times Tax List, which was released on Friday, Russian-born millionaire Alexander Gerko was the United Kingdom's highest taxpayer last year.

Gerko, 43, has given the British government more than pound487 million (USD601 million) in only one year. More than pound1.3 million in taxes are paid every day as a result, or pound55,639 every hour. This is an increase from the pound117.4 million he paid the year prior, when he was placed ninth.

Gerko, who ranked first among the top 100 United Kingdom taxpayers, beat Denise Coates, the CEO of the nation’s largest gaming company Bet365, who paid pound460.2 million (USD569 million) in taxes in 2017. Third place went to Stephen Rubin, the owner of the sports and fashion companies Speedo, Kickers, and Berghaus, who paid pound392.3 million (USD485 million) in taxes.

J.K. Rowling, the author of the Harry Potter series, and Sting are among the United Kingdom's top taxpayers. Moreover, Moscow State University awarded Gerko a degree in mathematics; he was born there. He started off trading stocks at Deutsche Bank AG before switching to foreign exchange.


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