A mysterious Russian-born billionaire who has spoken out against Vladimir Putin’s war in Ukraine has been named as the UK’s biggest taxpayer.
The latest Sunday Times tax list revealed on Friday that 100 wealthy people or families paid almost £5.2 billion in tax last year.
Nearly £1 in every £10 of this sum came from one man alone – Moscow-born Alex Gerko, who set up XTX Markets in 2015 and is co-chief executive of the trading business.
Despite keeping a low profile compared to some other names on the list - the little-known 43-year-old doesn't even have a Wikipedia page - he last year contributed a total of £487.4 million to the nation's coffers, making him the biggest single taxpayer in the country.
Born in December 1979 and growing up in the shadow of the Mosselmash tractor factory in a deprived suburb of Moscow, Mr Gerko's talent for maths showed from an early age despite attending a "very average" school, and by 12 years old he was regularly competing in regional competitions.
He would go on to achieve a doctorate in mathematics from Moscow State University in the early 2000s after studying there for several years.
The businessman began his career trading equities at Deutsche Bank AG before switching to foreign exchange, moving to London in 2006.
Mr Gerko left the bank in 2009 to join hedge fund GSA Capital before starting XTX Markets, a trading firm headquartered in the capital which specialises in automation.
He said on Twitter last year that he is "very happy to pay a ton of taxes" and is in favour of wealth taxes - but added he is "strongly against members of the parliament deciding how much money I need" after independent MP Claudia Webbe criticised billionaires.
Away from his businesses he is married to Elena Gerko, a research economist at the Research Hub of the Bank of England who joined in Autumn 2018 after completing a PhD at London Business School.
He's also known to be an avid sci-fi fan, and is reported to have a full-size replica of the Apollo 11 landing capsule in the XTX office canteen, along with items from from Battlestar Galactica and Babylon 5.
His favourite show of all is said to be the short-lived US space drama Firefly.
The Gerko family have also taken to philanthropy, including a £1.5million donation to the London symphony orchestra in 2020 and support for the Protect Pure Maths campaign, which promotes fundamental maths skills among UK children.
Usually publicity shy, Alex has taken a strong position on Putin's war in Ukraine, with XTX stating last year that it “fully support(s) the Ukrainian people" following the invasion.
Mr Gerko also hit out at ruthless Russian foreign minister Sergei Lavrov, reportedly commenting “Nuremberg is waiting for you” in reference to the post-World War II trials of Nazi officials.
Other jibes include him suggesting that Chelsea should be kicked out of the Premier League and put into the Russian football leagues while they were still under the ownership of Roman Abramovich.
Mr Gerko eventually became a British citizen after a decade in the country in 2016, having faced problems due to his Russian citizenship before renouncing it at the end of last year.
Last August, XTX revealed it was suing accountancy firm Mazars for refusing to work with them because of Mr Gerko’s background.
Commenting on his journey to the top spot, Robert Watts, who compiles the list, said: “Alex Gerko’s story is an extraordinary read. This was a man who could have been one of Russia’s greatest wealth creators — instead he is creating jobs and paying his tax here.
“Enticing the super-rich to London doesn’t always pay dividends for the public finances. In his case it certainly has."
