Five things you didn’t know about Chris Hohn, Britain’s most generous philanthropist

NS business profile of the week.

Charity cards, carol services, collection tins and donate-a-goat-to-Africa gifts are all typical of this season’s charitable nature. Christmas and philanthropy are inseparable and it is therefore the occasion for charities to top up on much needed donations. However, with today’s economic climate, how are charities coping? NS Profile takes a look at one person who has given more than most over recent years. Here are five things you didn’t know about Chris Hohn:

  1.  One of the UK's most successful hedge fund managers, Hohn has donated over £800 million to children's charities since 2003. His Children's Investment Fund Foundation receives direct grants from his hedge fund of the same name. In terms of voluntary income, Children's Investment Foundation receives £2.2 million more than the Donkey Sanctuary.
  2. The notoriously discrete fund manager is worth about £80 million. This makes him one of the most generous British philanthropists when donations are weighed against personal wealth. Bill Clinton once said that Hohn's "marriage of business and philanthropy provides a great tool to effect serious change in the developing world".
  3. One of Hohn's recent "hedging" successes was with News Corp. After the phone hacking scandal broke in 2011, News Corp’s shares were in free fall. Against popular opinion, Hohn brought £500 million worth of shares which are now worth £829 million, a 60 per cent increase.
  4. However, Hohn has not always been as popular in the City as he is with charities. His TCI fund is known for buying large stakes in flagging companies and forcing radical change. During one of his more bitter disputes, Hohn ousted the chief executive of Deutsche Börse, Werner Seifert.
  5. The son of a Jamaican car mechanic, Hohn was rumoured to begin his giving pledge after witnessing child poverty in the Philippines. Since then his hedging success has helped millions of children in the world's poorest countries.
The fund manager is notoriously discrete. Photograph: Getty Images

Oliver Williams is an analyst at WealthInsight and writes for VRL Financial News

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I believe only Yvette Cooper has the breadth of support to beat Jeremy Corbyn

All the recent polling suggests Andy Burnham is losing more votes than anyone else to Jeremy Corbyn, says Diana Johnson MP.

Tom Blenkinsop MP on the New Statesman website today says he is giving his second preference to Andy Burnham as he thinks that Andy has the best chance of beating Jeremy.

This is on the basis that if Yvette goes out first all her second preferences will swing behind Andy, whereas if Andy goes out first then his second preferences, due to the broad alliance he has created behind his campaign, will all or largely switch to the other male candidate, Jeremy.

Let's take a deep breath and try and think through what will be the effect of preferential voting in the Labour leadership.

First of all, it is very difficult to know how second preferences will switch. From my telephone canvassing there is some rather interesting voting going on, but I don't accept that Tom’s analysis is correct. I have certainly picked up growing support for Yvette in recent weeks.

In fact you can argue the reverse of Tom’s analysis is true – Andy has moved further away from the centre and, as a result, his pitch to those like Tom who are supporting Liz first is now narrower. As a result, Yvette is more likely to pick up those second preferences.

Stats from the Yvette For Labour team show Yvette picking up the majority of second preferences from all candidates – from the Progress wing supporting Liz to the softer left fans of Jeremy – and Andy's supporters too. Their figures show many undecideds opting for Yvette as their first preference, as well as others choosing to switch their first preference to Yvette from one of the other candidates. It's for this reason I still believe only Yvette has the breadth of support to beat Jeremy and then to go on to win in 2020.

It's interesting that Andy has not been willing to make it clear that second preferences should go to Yvette or Liz. Yvette has been very clear that she would encourage second preferences to be for Andy or Liz.

Having watched Andy on Sky's Murnaghan show this morning, he categorically states that Labour will not get beyond first base with the electorate at a general election if we are not economically credible and that fundamentally Jeremy's economic plans do not add up. So, I am unsure why Andy is so unwilling to be clear on second preferences.

All the recent polling suggests Andy is losing more votes than anyone else to Jeremy. He trails fourth in London – where a huge proportion of our electorate is based.

So I would urge Tom to reflect more widely on who is best placed to provide the strongest opposition to the Tories, appeal to the widest group of voters and reach out to the communities we need to win back. I believe that this has to be Yvette.

The Newsnight focus group a few days ago showed that Yvette is best placed to win back those former Labour voters we will need in 2020.

Labour will pay a massive price if we ignore this.

Diana Johnson is the Labour MP for Hull North.