Much has been written about Rishi Sunak’s “meteoric rise” since his elevation as Chancellor of the Exchequer, but what has not been widely reported is how he benefited from the 2008 financial crash that condemned ordinary Britons to a decade of economic deprivation.
A former investment whizz kid, Sunak was part of a group of hedge fund managers who shared nearly £100m after an audacious stock market bet that triggered the financial crisis, according to The Times newspaper.
He was a partner at the hedge fund TCI when it launched a campaign against the Dutch bank ABN Amro forcing its sale to the Royal Bank of Scotland (RBS) triggering a chain of events leading to the crash. “His role in TCI between 2006-2009 made him a millionaire in his mid-twenties,” the paper said.