Humanosity says…This is the 2nd part of a fantastic investigation by the team at Byline Times. We have been trying to provide people with the real motivations behind those who funded Brexit. This investigation shows how some of Brexit’s backers have made millions.
In part 2 of their investigation into the wealthy backers of Brexit, they focus in on Sir Paul Marshall who they claim had a pivotal role in persuading Michael Gove to back leave.
Of all the political decisions around the EU referendum, Paul Marshall’s impact on Gove is one of the most precipitate and important. Gove’s defection to Vote Leave persuaded his old Oxford University college friend, Boris Johnson, to join him.
Sir Paul Marshall runs one of Europe’s biggest hedge funds, Marshall Wace and was a major donor to the Vote Leave campaign before going on to back Boris Johnson’s campaign to lead the Tories. In the article, they detail the extent of his financial support of Vote Leave and Johnson but they also reveal the money he made from the collapse of major outsourcing company Carillion.
Marshall Wace had the largest short position against the outsourcing company, betting nearly 4% of its entire shareholding on the firm’s collapse. Together with Blackrock, it stood to make net gains of around £30 million when Carillion finally went into receivership in January 2018. Last year, Marshall made the top 10 “Hedge Fund Rich List in 2018”, with an estimated net worth of £520 million and gains of up £15 million.