Jeremy John Hosking (born 20 July 1958) is a British businessman and political donor. Ranked number 351 in the Sunday Times Rich List 2019, with a net worth of £375 million, he is a shareholder in Crystal Palace F.C. and a noted railway enthusiast. He has donated heavily to the Reclaim Party.
Jeremy Hosking | |
|---|---|
| Born | 20 July 1958 |
| Nationality | British |
| Alma mater | St Catharine's College, Cambridge |
| Occupation | Businessman |
| Known for | Co-founder Marathon Asset Management |
| Political party | Reclaim Party (2020-present) Reform UK (2019-present) Conservative Party |
| Spouse |
Elizabeth Hosking (m. 1993) |
Education and career
editHosking was educated at Rugby School and St Catharine's College, Cambridge, where he studied geography.[1] After graduating in 1979, he was a director and portfolio manager with GT Capital Management, dealing in southeast Asian investments.
Hosking was a founding shareholder in Marathon Asset Management, established in 1986.[2] In 2012, Hosking set up Dublin-listed asset manager Hosking & Co.[3] Marathon Asset Management accused Hosking of breaching contractual and fiduciary duties while working there because he discussed plans for a new business with other employees. In 2015, Hosking was ordered to pay £1.38 million in damages, and a further £10.4 million; half of the profits Hosking received for the period between July and December 2012. Hosking unsuccessfully appealed, arguing profit shares could not be forfeited.[4]
Private investments
editIn March 2011, Hosking bought Gravetye Manor, a West Sussex country house hotel, out of administration.[5]
In August 2010, Hosking was part of a four-man consortium that bought Crystal Palace out of administration.[6] On 18 December 2015, it was announced that American investors Josh Harris and David Blitzer had bought a major share holding in the club.[7] Whilst Steve Parish continued as chairman alongside Harris and Blitzer, fellow CPFC 2010 investors Browett, Long and Hosking each retained a reduced 8% investment.[8]
The Guardian reports that Hosking held over £100M in investments in fossil fuels in 2024.[9]
Hosking was ranked number 351 in the Sunday Times Rich List 2019, with a net worth of £375 million.[10]
Railways
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Hosking is a noted railway enthusiast, having purchased a number of main-line steam locomotives including 4464 Bittern, 6024 King Edward I, 6100 Royal Scot, 60532 Blue Peter and 70000 Britannia and founded the Royal Scot Locomotive and General Trust.[11][12]
In 2014, Hosking purchased the London & North Western Railway Heritage business from Pete Waterman[13] and took out a lease on Crewe Diesel TMD[14] that became the base for heritage train operation Locomotive Services Limited in 2017.[15][16] In 2016, Hosking purchased a 30% shareholding in the Dartmouth Steam Railway[17] and in 2017 purchased the former Hornby Railways factory in Margate to establish the One:One Collection museum.[18][19]
Political activity
editA long time Conservative Party donor, Hosking donated £1.7 million to Vote Leave in 2016 and supported pro-Brexit candidates in the 2017 general election.[20]
In February 2019, Hosking submitted the paperwork to found a new party called Brexit Express, which would welcome Conservative Party MPs unhappy with Theresa May's Brexit plans. At the same time, he launched a public campaign in favour of a no-deal Brexit.[21] Hosking has made major donations to the Brexit Party led by Nigel Farage.[22][23] He became the founding donor to the Reclaim Party led by Laurence Fox.[24][25] In the first quarter of 2021, he gave the Reclaim Party more than £1,000,000 in cash and services.[24] In December 2021, newspapers reported he would continue to fund the Reclaim Party.[26]
Hosking is listed in the Parliamentary register of interests as having donated legal services to Andrew Bridgen to the value of £4,470,576.42 in December 2023, "the costs of which will be repaid to the donor on an interest-free basis."[27]
Personal life
editHosking has been married to Elizabeth since 1993;[28] they co-own Gravetye Manor[10][29] after spending their wedding night there and becoming long-standing guests.[30][31]
References
edit- ^ "Cambridge University tripos results", The Times, 23 June 1978, p. 6. Retrieved 7 May 2023.
- ^ Fund giant wins just £2 in legal battle against ex-managers Archived 3 July 2022 at the Wayback Machine Citywire 23 February 2017
- ^ hosking. "Hosking Partners LLP". Archived from the original on 23 May 2019. Retrieved 25 May 2019.
- ^ Bucak, Selin (5 October 2016). "Judge upholds fund giant's £10.4m legal claim against co-founder". Citywire. Archived from the original on 16 June 2017. Retrieved 15 May 2017.
- ^ Walsh, Dominic. "Hosking stokes up luxury hotel purchase". The Times. ISSN 0140-0460. Archived from the original on 1 January 2022. Retrieved 1 January 2022.
- ^ "Long live Crystal Palace" Archived 1 February 2011 at the Wayback Machine, Daniel Jones, This is Croydon Today
- ^ "Crystal Palace: Deal agreed with US investors Harris and Blitzer". BBC News. 18 December 2015. Archived from the original on 19 December 2015. Retrieved 19 December 2015.
- ^ "Investment Deal Is Signed". Crystal Palace F.C. 18 December 2015. Retrieved 19 December 2015.
- ^ Horton, Helena (7 June 2024). "Who are the wealthy climate sceptics funding rightwing UK politics?". The Guardian. ISSN 0261-3077. Retrieved 13 September 2024.
- ^ a b "Rich List 2019: profiles 351–399=, featuring the Queen, Elton John and David Beckham". Sunday Times. 12 May 2019. ISSN 0140-0460. Archived from the original on 25 May 2019. Retrieved 25 May 2019.
- ^ Locos Archived 18 January 2023 at the Wayback Machine Royal Scot Locomotive & General Trust
- ^ Royal Scot Locomotive & General Trust Financial Statements for year ended 31 March 2010] Companies House
- ^ News Heritage Railway issue 187 March 2014 page 10
- ^ Hosking to lease Crewe depot Railways Illustrated issue 135 May 2014 page 10
- ^ Licence granted for new operator Rail issue 835 13 September 2017 page 19
- ^ First LS tour Today's Railways UK issue 197 May 2018 page 68
- ^ Dartmouth line becomes a private limited company Steam Railway September 2016 page 10
- ^ Walsh, Dominic (15 March 2017). "Hosking snaps up Hornby site to store his train set". The Times. London. Archived from the original on 24 October 2020. Retrieved 11 October 2020.
- ^ Hornby Margate Open Weekend Archived 10 December 2020 at the Wayback Machine Rail Express 25 September 2020
- ^ Vote Leave gets big donation from former BNP member on leaked list Archived 21 December 2016 at the Wayback Machine The Guardian 14 May 2017
- ^ Savage, Michael (17 February 2019). "No-dealers dig in for a fresh battle amid fears of Tory split". The Observer. ISSN 0029-7712. Retrieved 17 February 2019.
- ^ Busby, Mattha (11 May 2019). "Tory donor gives £200,000 to Nigel Farage's Brexit party". The Guardian. Retrieved 6 December 2020.
- ^ "Nigel Farage Reveals Identity Of The Brexit Party's Major Donor". LBC. 14 May 2019. Retrieved 6 December 2020.
- ^ a b Walker, Peter (3 June 2021). "Laurence Fox's political party received almost same donations as Lib Dems". The Guardian. Archived from the original on 3 June 2021.
- ^ "Nick Ferrari challenges Laurence Fox over Black History Month and safe spaces | LBC" – via YouTube.
- ^ Penna, Dominic; Hope, Christopher (13 December 2021). "Former Conservative donor to pump further £5m into Laurence Fox's Reclaim Party". The Daily Telegraph. Archived from the original on 18 December 2021. Retrieved 18 December 2021.
- ^ "House of Commons - The Register of Members' Financial Interests (8 January 2024: Bridgen, Andrew )".
- ^ Patrick W. Montague-Smith, ed. (1995). Debrett's Peerage and Baronetage. Debrett's Peerage Limited. p. 941.
- ^ Duncan, Fiona (March 2020). "Another country". The Critic.
- ^ "Our History | Gravetye Manor in Sussex Countryside". www.gravetyemanor.co.uk. Archived from the original on 23 June 2021. Retrieved 7 July 2021.
- ^ Harmer, Janet (6 September 2013). "Gravetye Manor joins Pride of Britain". Archived from the original on 3 June 2021. Retrieved 7 July 2021.