Jeremy Hosking

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Jeremy Hosking
Born (1958-07-20) 20 July 1958 (age 64)
NationalityBritish
Alma materUniversity of Cambridge
OccupationBusinessman
Known forCo-founder Marathon Asset Management
Political partyConservative Party
Vote Leave
Brexit Party
Reclaim Party

Jeremy John Hosking (born 20 July 1958) is a British businessman and political donor. Ranked number 351 in the Sunday Times Rich List 2019, with a net worth of £375 million, he is a shareholder in Crystal Palace F.C. and a noted railway enthusiast.

Education and career[edit]

Hosking was educated at Rugby School and St Catharine's College, Cambridge, where he studied geography.[1] After graduating in 1979, he served as 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.[2] In 2012, Hosking set up Dublin-listed asset manager Hosking & Co.[3] 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.[4]

Private investments[edit]

In March 2010, Hosking bought Gravetye Manor, a West Sussex country house hotel, out of administration.[5]

In August 2010, Hosking was part of a four-man consortium that bought Crystal Palace F.C. out of administration.[6] On 18 December 2015, it was announced that American investors Josh Harris and David Blitzer had bought a major share holding in the club.[7] Whilst Steve Parish continued as chairman alongside Harris and Blitzer, fellow CPFC 2010 investors Browett, Long and Hosking each retained a reduced 8% investment.[8]

He was ranked number 351 in the Sunday Times Rich List 2019, with a net worth of £375 million.[9]

Railways[edit]

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.[10][11]

In 2014, Hosking purchased the London & North Western Railway Heritage business from Pete Waterman[12] and took out a lease on Crewe Diesel TMD[13] that became the base for heritage train operation Locomotive Services Limited in 2017.[14][15] In 2016, Hosking purchased a 30% shareholding in the Dartmouth Steam Railway[16] and in 2017 purchased the former Hornby Railways factory in Margate to establish the One:One Collection museum.[17][18]

Political activity[edit]

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.[19]

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.[20] Hosking has made major donations to the Brexit Party led by Nigel Farage.[21][22] He became the founding donor to the Reclaim Party led by Laurence Fox.[23][24] In the first quarter of 2021, he gave the Reclaim Party more than £1,000,000 in cash and services.[23] In December 2021, newspapers reported he would continue to fund the Reclaim Party.[25]

Personal life[edit]

Hosking has been married to Elizabeth since 1993;[26] they co-own Gravetye Manor[9][27] after spending their wedding night there[28] and becoming long-standing guests.[29]

References[edit]

  1. ^ "Cambridge University tripos results", The Times, 23 June 1978, p. 6. Retrieved 7 May 2023.
  2. ^ Fund giant wins just £2 in legal battle against ex-managers Citywire 23 February 2017
  3. ^ hosking. "Hosking Partners LLP".
  4. ^ Bucak, Selin (5 October 2016). "Judge upholds fund giant's £10.4m legal claim against co-founder". Citywire.
  5. ^ Walsh, Dominic. "Hosking stokes up luxury hotel purchase". The Times. ISSN 0140-0460. Retrieved 1 January 2022.
  6. ^ "Long live Crystal Palace" Archived 1 February 2011 at the Wayback Machine, Daniel Jones, This is Croydon Today
  7. ^ "Crystal Palace: Deal agreed with US investors Harris and Blitzer". BBC News. 18 December 2015. Retrieved 19 December 2015.
  8. ^ "Investment Deal Is Signed". Crystal Palace F.C. 18 December 2015. Retrieved 19 December 2015.
  9. ^ a b "Rich List 2019: profiles 351–399=, featuring the Queen, Elton John and David Beckham". Sunday Times. 12 May 2019. ISSN 0140-0460. Retrieved 25 May 2019.
  10. ^ Locos Royal Scot Locomotive & General Trust
  11. ^ Royal Scot Locomotive & General Trust Financial Statements for year ended 31 March 2010] Companies House
  12. ^ News Heritage Railway issue 187 March 2014 page 10
  13. ^ Hosking to lease Crewe depot Railways Illustrated issue 135 May 2014 page 10
  14. ^ Licence granted for new operator Rail issue 835 13 September 2017 page 19
  15. ^ First LS tour Today's Railways UK issue 197 May 2018 page 68
  16. ^ Dartmouth line becomes a private limited company Steam Railway September 2016 page 10
  17. ^ Walsh, Dominic (15 March 2017). "Hosking snaps up Hornby site to store his train set". The Times. London. Retrieved 11 October 2020.
  18. ^ Hornby Margate Open Weekend Rail Express 25 September 2019
  19. ^ Vote Leave gets big donation from former BNP member on leaked list The Guardian 14 May 2017
  20. ^ Savage, Michael (17 February 2019). "No-dealers dig in for a fresh battle amid fears of Tory split". The Observer. ISSN 0029-7712. Retrieved 17 February 2019.
  21. ^ Busby, Mattha (11 May 2019). "Tory donor gives £200,000 to Nigel Farage's Brexit party". The Guardian. Retrieved 6 December 2020.
  22. ^ "Nigel Farage Reveals Identity Of The Brexit Party's Major Donor". LBC. 14 May 2019. Retrieved 6 December 2020.
  23. ^ a b Walker, Peter (3 June 2021). "Laurence Fox's political party received almost same donations as Lib Dems". The Guardian. Archived from the original on 3 June 2021.
  24. ^ "Nick Ferrari challenges Laurence Fox over Black History Month and safe spaces | LBC" – via YouTube.{{cite web}}: CS1 maint: url-status (link)
  25. ^ Penna, Dominic; Hope, Christopher (13 December 2021). "Former Conservative donor to pump further £5m into Laurence Fox's Reclaim Party". The Daily Telegraph. Retrieved 18 December 2021.
  26. ^ Patrick W. Montague-Smith, ed. (1995). Debrett's Peerage and Baronetage. Debrett's Peerage Limited. p. 941.
  27. ^ Duncan, Fiona (March 2020). "Another country". The Critic.
  28. ^ "The history of Gravetye Manor".
  29. ^ Harmer, Janet (6 September 2013). "Gravetye Manor joins Pride of Britain".