Antiquated Brexiteer Jacob Rees-Mogg is set to receive a £1 million payout from the investment firm that he co-founded, according to the website Wealth Manager.
This £1m bumper payout is Rees-Mogg’s share of the company’s £19.5 million profits this year.
Rees-Mogg co-founded Somerset Capital Management in 2007 after working for several years in Hong Kong. Somerset Capital is managed via subsidiaries in the Cayman Islands and Singapore – both tax havens.
The Tory MP will receive this £1m payout on top of his parliamentary salary of roughly £79,000.
Rees-Mogg, who’s a leading Brexit advocate, was educated at Eton and is estimated to be worth somewhere between £55m and £150m.
Like former city trader Nigel Farage, he’s truly a man of the people.