Jeremy Hosking#Political activity
{{short description|British businessman and political donor (born 1958)}}
{{Use dmy dates|date=September 2024}}
{{Infobox person
| name = Jeremy Hosking
| image =
| caption =
| birth_name =
| birth_date = {{birth date and age|df=y|1958|07|20}}
| nationality = British
| other_names =
| education = Rugby School, Warwickshire
| occupation = Businessman
| employer =
| known_for = Co-founder Marathon Asset Management
| title =
| term =
| predecessor =
| successor =
| party = Reclaim Party (2020-present)
Reform UK (2019-present)
Conservative Party
| boards =
| spouse = {{marriage|Elizabeth Hosking|1993}}
| children =
| parents =
| relatives =
| alma mater = St Catharine's College, Cambridge
}}
Jeremy John Hosking (born 20 July 1958) is a British businessman and political donor. Ranked number 351 in the Sunday Times Rich List, with a net worth of £375 million, he is a shareholder in Crystal Palace and a noted railway enthusiast. He has donated heavily to the Reclaim Party.
Education and career
Hosking was educated at Rugby School and St Catharine's College, Cambridge, where he studied geography."Cambridge University tripos results", The Times, 23 June 1978, p. 6. Retrieved 7 May 2023. 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.[https://citywire.co.uk/wealth-manager/news/fund-giant-wins-just-2-in-legal-battle-against-ex-managers/a995031 Fund giant wins just £2 in legal battle against ex-managers] {{Webarchive|url=https://web.archive.org/web/20220703045840/https://citywire.co.uk/wealth-manager/news/fund-giant-wins-just-2-in-legal-battle-against-ex-managers/a995031 |date=3 July 2022 }} Citywire 23 February 2017 In 2012, Hosking set up Dublin-listed asset manager Hosking & Co.{{cite web|url=http://www.hoskingpartners.com/|title=Hosking Partners LLP|last=hosking|access-date=25 May 2019|archive-date=23 May 2019|archive-url=https://web.archive.org/web/20190523050507/http://www.hoskingpartners.com/|url-status=live}} 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.{{cite news|url=http://citywire.co.uk/new-model-adviser/news/judge-upholds-fund-giants-10-4m-legal-claim-against-co-founder/a955338|title=Judge upholds fund giant's £10.4m legal claim against co-founder|first=Selin|last=Bucak|work=Citywire|date=5 October 2016|access-date=15 May 2017|archive-date=16 June 2017|archive-url=https://web.archive.org/web/20170616051626/http://citywire.co.uk/new-model-adviser/news/judge-upholds-fund-giants-10-4m-legal-claim-against-co-founder/a955338|url-status=live}}
Private investments
In March 2011, Hosking bought Gravetye Manor, a West Sussex country house hotel, out of administration.{{Cite news|last=Walsh|first=Dominic|title=Hosking stokes up luxury hotel purchase|newspaper=The Times|language=en|url=https://www.thetimes.com/article/hosking-stokes-up-luxury-hotel-purchase-z6x5w8gx2c6|access-date=1 January 2022|issn=0140-0460|archive-date=1 January 2022|archive-url=https://web.archive.org/web/20220101230649/https://www.thetimes.co.uk/article/hosking-stokes-up-luxury-hotel-purchase-z6x5w8gx2c6|url-status=live}}
In August 2010, Hosking was part of a four-man consortium that bought Crystal Palace out of administration.[http://www.thisiscroydontoday.co.uk/news/Long-live-Crystal-Palace/article-2498739-detail/article.html "Long live Crystal Palace"] {{Webarchive|url=https://web.archive.org/web/20110201165117/http://www.thisiscroydontoday.co.uk/news/Long-live-Crystal-Palace/article-2498739-detail/article.html |date=1 February 2011 }}, Daniel Jones, This is Croydon Today On 18 December 2015, it was announced that American investors Josh Harris and David Blitzer had bought a major share holding in the club.{{cite news|title=Crystal Palace: Deal agreed with US investors Harris and Blitzer|url=https://www.bbc.co.uk/sport/0/football/35138750|work=BBC News|date=18 December 2015|accessdate=19 December 2015|archive-date=19 December 2015|archive-url=https://web.archive.org/web/20151219080614/http://www.bbc.co.uk/sport/0/football/35138750|url-status=live}} Whilst Steve Parish continued as chairman alongside Harris and Blitzer, fellow CPFC 2010 investors Browett, Long and Hosking each retained a reduced 8% investment.{{cite web|title=Investment Deal Is Signed|url=https://www.cpfc.co.uk/news/2015/december/investment-deal-is-signed-/|publisher=Crystal Palace F.C.|date=18 December 2015|accessdate=19 December 2015}}
The Guardian reported that Hosking held over £100 million in investments in fossil fuels in 2024. {{Cite news |last=Horton |first=Helena |date=7 June 2024 |title=Who are the wealthy climate sceptics funding rightwing UK politics? |url=https://www.theguardian.com/politics/article/2024/jun/07/who-are-the-wealthy-climate-sceptics-funding-rightwing-uk-politics |access-date=13 September 2024 |work=The Guardian |language=en-GB |issn=0261-3077}}
Hosking was ranked number 351 in the Sunday Times Rich List, with a net worth of £375 million.{{cite news|url=https://www.thetimes.com/uk/article/sunday-times-rich-list-2019-profiles-351-399-queen-elton-john-david-beckham-tfs5wbck9|title=Rich List 2019: profiles 351–399=, featuring the Queen, Elton John and David Beckham|date=12 May 2019|website=Sunday Times|access-date=25 May 2019|issn=0140-0460|archive-date=25 May 2019|archive-url=https://web.archive.org/web/20190525192817/https://www.thetimes.co.uk/article/sunday-times-rich-list-2019-profiles-351-399-queen-elton-john-david-beckham-tfs5wbck9|url-status=live}}
Railways
File:LMS Royal Scot class 4-6-0 No46100 'Royal_Scot' (27160673349).jpg]]
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.[http://www.royalscot.org.uk/#locos Locos] {{Webarchive|url=https://web.archive.org/web/20230118213943/https://royalscot.org.uk/#locos |date=18 January 2023 }} Royal Scot Locomotive & General TrustRoyal Scot Locomotive & General Trust Financial Statements for year ended 31 March 2010] Companies House
In 2014, Hosking purchased the London & North Western Railway Heritage business from Pete WatermanNews Heritage Railway issue 187 March 2014 page 10 and took out a lease on Crewe Diesel TMDHosking to lease Crewe depot Railways Illustrated issue 135 May 2014 page 10 that became the base for heritage train operation Locomotive Services Limited in 2017.Licence granted for new operator Rail issue 835 13 September 2017 page 19First LS tour Today's Railways UK issue 197 May 2018 page 68 In 2016, Hosking purchased a 30% shareholding in the Dartmouth Steam RailwayDartmouth line becomes a private limited company Steam Railway September 2016 page 10 and in 2017 purchased the former Hornby Railways factory in Margate to establish the One:One Collection museum.{{cite news|last=Walsh|first=Dominic|date=15 March 2017|title=Hosking snaps up Hornby site to store his train set|newspaper=The Times|url=https://www.thetimes.com/business-money/article/hosking-snaps-up-hornby-site-to-store-his-train-set-m7kl3l3mk|url-access=limited|access-date=11 October 2020|location=London|archive-date=24 October 2020|archive-url=https://web.archive.org/web/20201024095310/https://www.thetimes.co.uk/article/hosking-snaps-up-hornby-site-to-store-his-train-set-m7kl3l3mk|url-status=live}}[https://www.railexpress.co.uk/2866/video-hornby-margate-open-weekend/ Hornby Margate Open Weekend] {{Webarchive|url=https://web.archive.org/web/20201210144249/https://www.railexpress.co.uk/2866/video-hornby-margate-open-weekend/ |date=10 December 2020 }} Rail Express 25 September 2020
Political activity
A 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.[https://www.theguardian.com/politics/2016/jun/21/vote-leave-gets-big-donation-from-gladys-bramall-former-bnp-member-leaked-list Vote Leave gets big donation from former BNP member on leaked list] {{Webarchive|url=https://web.archive.org/web/20161221141135/https://www.theguardian.com/politics/2016/jun/21/vote-leave-gets-big-donation-from-gladys-bramall-former-bnp-member-leaked-list |date=21 December 2016 }} The Guardian 14 May 2017
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.{{Cite news|url=https://www.theguardian.com/politics/2019/feb/17/no-deal-brexiters-tory-split-conservative-multimillionaire-donor-new-party|title=No-dealers dig in for a fresh battle amid fears of Tory split|last=Savage|first=Michael|date=17 February 2019|work=The Observer|access-date=17 February 2019|issn=0029-7712}} Hosking has made major donations to the Brexit Party led by Nigel Farage.{{Cite news|url=https://www.theguardian.com/politics/2019/may/11/tory-donor-jeremy-hosking-200000-nigel-farage-brexit-party|title=Tory donor gives £200,000 to Nigel Farage's Brexit party|last=Busby|first=Mattha|date=11 May 2019|work=The Guardian|access-date=6 December 2020}}{{Cite news|url=https://www.lbc.co.uk/radio/presenters/nick-ferrari/nigel-farage-jeremy-hosking-brexit-party-funder/|title=Nigel Farage Reveals Identity Of The Brexit Party's Major Donor|date=14 May 2019|work=LBC|access-date=6 December 2020}} He became the founding donor to the Reclaim Party led by Laurence Fox.{{cite news |last1=Walker |first1=Peter |title=Laurence Fox's political party received almost same donations as Lib Dems |url=https://www.theguardian.com/politics/2021/jun/03/laurence-foxs-political-party-received-almost-same-donations-as-lib-dems |work=The Guardian |date=3 June 2021 |archive-url=https://web.archive.org/web/20210603193656/https://www.theguardian.com/politics/2021/jun/03/laurence-foxs-political-party-received-almost-same-donations-as-lib-dems |archive-date=3 June 2021 |url-status=live |language=en}}{{Cite web|title=Nick Ferrari challenges Laurence Fox over Black History Month and safe spaces {{!}} LBC|url=https://www.youtube.com/watch?v=PWT0Ura78pc|access-date=|via=YouTube}} In the first quarter of 2021, he gave the Reclaim Party more than £1,000,000 in cash and services. In December 2021, newspapers reported he would continue to fund the Reclaim Party.{{cite news |last1=Penna |first1=Dominic |last2=Hope |first2=Christopher |title=Former Conservative donor to pump further £5m into Laurence Fox's Reclaim Party |url=https://www.telegraph.co.uk/politics/2021/12/13/former-conservative-donor-pump-5m-laurence-foxs-reclaim-party/ |access-date=18 December 2021 |work=The Daily Telegraph |date=13 December 2021 |archive-date=18 December 2021 |archive-url=https://web.archive.org/web/20211218085523/https://www.telegraph.co.uk/politics/2021/12/13/former-conservative-donor-pump-5m-laurence-foxs-reclaim-party/ |url-status=live }}
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."{{Cite web|url=https://publications.parliament.uk/pa/cm/cmregmem/240108/bridgen_andrew.htm|title=House of Commons - The Register of Members' Financial Interests (8 January 2024: Bridgen, Andrew )}}
Personal life
Hosking has been married to Elizabeth since 1993;{{cite book|title=Debrett's Peerage and Baronetage|editor=Patrick W. Montague-Smith|publisher=Debrett's Peerage Limited|date=1995|page=941}} they co-own Gravetye Manor{{cite news|url=https://thecritic.co.uk/issues/march-2020/another-country/|title=Another country|work=The Critic|date=March 2020|first=Fiona|last=Duncan}} after spending their wedding night there and becoming long-standing guests.{{Cite web|url=https://www.gravetyemanor.co.uk/the-manor/the-history-of-gravetye-manor/|title=Our History | Gravetye Manor in Sussex Countryside|website=www.gravetyemanor.co.uk|access-date=7 July 2021|archive-date=23 June 2021|archive-url=https://web.archive.org/web/20210623211740/https://www.gravetyemanor.co.uk/the-manor/the-history-of-gravetye-manor/|url-status=live}}{{cite news|url=https://www.thecaterer.com/news/hotel/gravetye-manor-joins-pride-of-britain|title=Gravetye Manor joins Pride of Britain|date=6 September 2013|first=Janet|last=Harmer|access-date=7 July 2021|archive-date=3 June 2021|archive-url=https://web.archive.org/web/20210603195345/https://www.thecaterer.com/news/hotel/gravetye-manor-joins-pride-of-britain|url-status=live}}
References
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Category:Alumni of St Catharine's College, Cambridge
Category:British businesspeople
Category:British people associated with Heritage Railways
Category:Conservative Party (UK) donors
Category:Private equity and venture capital investors