A former Deutsche Bank AG trader is rapidly amassing enough wealth in the fallout from volatile interest rates and inflation to rival some of the richest billionaires in finance.
Alex Gerko’s fortune has surged to $10.8 billion after the holding company of his quantitative trading firm XTX Markets paid out a record £1.6 billion ($2 billion) dividend to its owners earlier this year. XTX also increased profits more than 50%, helping to roughly double the 43-year-old’s net worth, according to the Bloomberg Billionaires Index.
Gerko, who controls a majority stake in XTX, is now the world’s 182nd-richest person, with his fortune rivaling those of hedge fund founders Izzy Englander and Stan Druckenmiller.
Read the full story on Bloomberg here.