Minister Dominic Johnson paid almost £500k by firm that invested in … – iNews
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Lord Johnson co-founded Somerset Capital Management with Tory grandee Jacob Rees-Mogg in 2007
A Government trade minister was paid almost 500,000 last year by the investment firm he co-founded, which continues to hold shares in the firm widely described as “Russia’s Google” despite the war in Ukraine.
Dominic Johnson – Lord Johnson of Lainston, who was made a peer when he took up his ministerial post last October – received 471,842 in March last year as part of a 6.49m payout to partners and directors of Somerset Capital Management LLP (SCM).
At the time of the payout, he owned about 15 per cent of SCM.
Lord Johnson relinquished his shares in SCM when he resigned last November.
The latest accounts, which are signed by Lord Johnson, cover the year to the end of March 2022 and include the first five weeks of the war in Ukraine.
His government biography describes the firm as a “pension fund management in developing countries” – however the group also continues to have a…
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