TCI’s Hohn makes UK's largest donation
Chris Hohn, the activist hedge fund manager, donated £324m to his charitable foundation last year, cementing his position among the UK’s top philanthropists.
Founder of The Children's Investment fund (TCI), Hohn donated the money together with other partners of the hedge fund to the Children's Investment Fund Foundation (CIFF), a charity run by his wife Jamie Cooper-Hohn.
Following the £324m donation, and £230 given last year, the couple have now given almost £800m to CIFF, which focuses on projects in the developing world including aiding children affected by HIV/AIDS and improving sanitation and hygiene.
The fund automatically donates 0.5% of assets to CIFF, plus an extra 0.5% if annual returns exceed 11%, with Hohn also donating his own profits.
Other leading philanthropists have also recently made significant pledges. Scottish billionaire Sir Tom Hunter has pledged to give away £1bn during his lifetime, and entrepreneur Duncan Bannatyne has pledged to donate his £300m fortune in his lifetime rather than pass it on to his children.