Jacob Rees-Mogg is one of the richest and most popular politicians in the United Kingdom. He has an estimated net worth of £150 million. He studied history at Trinity College, Oxford. Prior to becoming a politician, he served as President of the Conservative Association at Oxford University. His interests include historic cars, his views on immigration, and his investment in Somerset Capital.
Conservative MP Jacob Rees-Mogg is a major shareholder in Somerset Capital, a company focused on investment projects in emerging markets. The investment company was founded by the MP for North East Somerset, who currently sits on the European Research Group. After studying history at Trinity College Oxford, he moved into finance, eventually co-founding the firm. His investment interests include global emerging markets, including China and Russia.
The fund’s AP1 pension fund requested that the investment vehicle be based in Ireland, where it is more accessible to international investors. AP1 declined to comment on the reasons for the fund’s Irish domicile. However, in March last year, the fund’s Irish regulator granted Somerset approval. The fund will manage PS1.4 billion in emerging market dividend growth funds. Its founder Jacob Rees-Mogg’s father has advised clients on profiting from disasters, and his firm has made investments in private health companies during the crisis.
Jacob Rees-Mogg’s investments
A recent report on the parliamentary expenses of the Conservative Party leader reveals that he has a substantial stake in a multi-billion dollar investment fund. Jacob Rees-Mogg co-founded the company Somerset Capital, which focuses on major economies and emerging markets. He reportedly owns 12 per cent of the company, with his interest set to decrease to five per cent by 2027 under the company’s profit-share scheme. As a member of Parliament, Rees-Mogg has been charged with finding investment opportunities for Britain’s withdrawal from the EU.
While Jacob Rees-Mogg was the leader of the Conservative Party, he was in charge of timetabling government legislation. The role he’ll be taking in the Department for International Trade (DIT) has raised concerns about Rees-Mogg’s conflict of interest. The company has been accused of ignoring the Nolan principles, which require directors to follow their responsibilities and avoid a conflict of interest.
Jacob Rees-Mogg’s interest in historic cars
In addition to being a member of the All-Party Parliamentary Group for Historic Vehicles, Jacob Rees-Mogg also has a keen interest in vintage cars. At age 23, he purchased a ’68 Bentley from a former cricketer called Gubby Allen. In 2005, he added a 1936 3.5 Litre Bentley to his collection. He has supported Somerset County Cricket Club since his childhood and has six children with his wife Helena Anne Beatrix Fitzwilliam de Chair.
While it’s rare for a politician to have a passion for a hobby, Jacob Rees-Mogg’ interests in classic cars go beyond politics. The MP, who was elected to the British parliament in 2010, is a member of the Conservative Party. He is a social conservative and is a member of the All-Party Parliamentary Group for Historic Vehicles. In addition to his political activities, Rees-Mogg is an avid car collector and has a private chapel at his home.
Jacob Rees-Mogg’s views on immigration
Conservative Party leader Jacob Rees-Mogg is widely seen as one of the least pro-immigration MP. But, what do his views on immigration really mean? We recently spoke to him and asked him about the infamous “AfD video” he tweeted. Rees-Mogg’s response was interesting. He defended the tweet, saying it was merely a joke.
In response to Rees-Mogg’s comments, 140 MPs signed a letter to the Prime Minister, expressing concern about the way the Home Office has incorrectly labeled long-term British residents. This issue, named Windrush row, drew the ire of Jacob Rees-Mogg and many other Conservative Party MPs. Rees-Mogg’s comments are in stark contrast to the policies he claims to support.