Peter Hargreaves | |
---|---|
Born | Peter Kendal Hargreaves 5 October 1946 Clitheroe, Lancashire |
Nationality | British |
Education | Clitheroe Royal Grammar School |
Occupation | Businessman |
Known for | Co-founder of Hargreaves Lansdown Chairman of Blue Whale Capital |
Website | www |
Peter Kendal Hargreaves CBE (born 5 October 1946)[1] is an English co-founder with Stephen Lansdown of Hargreaves Lansdown, one of the United Kingdom's largest financial services businesses. He is a shareholder of Hargreaves Lansdown[2] but no longer a director or employee. He is a partner in Blue Whale Capital, an investment boutique that was launched in 2017.[3]
Hargreaves was born in Clitheroe and educated at Clitheroe Royal Grammar School in Lancashire.[4][5][6]
Trained as an accountant,[6] Peter Hargreaves initially worked as a computer salesman.[6] He then started Hargreaves Lansdown trading from a bedroom in 1981; in 2010, he stood down as chief executive and, in the same year, received £18 million in payouts from dividends. He was succeeded as CEO by Ian Gorham. His wealth was reported at £2,315 million according to the Sunday Times Rich List 2017, making him the 51st richest person in the UK.[7] Hargreaves joined the board of ITM Power in February 2004 as a non-executive director:[8] he has invested heavily in ITM Power.[9] In March 2016 he joined the Leave.EU movement to campaign for the UK's exit from the European Union.[10] He was the top donor to the Brexit campaign contributing over £3 million to the Leave campaign.[11] In September 2017, Hargreaves announced a £25 million backing in Blue Whale Capital – a new asset management company set up by previous colleague, Stephen Yiu.[12][13]
It was announced in August 2020 that Hargreaves would receive £63.4 million in dividends after Hargreaves Lansdown's profits increased by 24% to £378.3 million in the 12 months leading up to 30 June 2020.[14][15]
According to The Sunday Times Rich List in 2020 his net worth was estimated at £2.4 billion.[16] In 2021, he came ninth in a list of the top ten biggest taxpayers in the UK, having paid a tax bill of £91.4 million that year.[17]
Hargreaves was appointed Commander of the Order of the British Empire (CBE) in the 2014 New Year Honours for services to business innovation, financial services, and the City of Bristol.[18]
Hargreaves financially supported the Leave.EU campaign in 2016,[19][20] donating £3.2m to the Leave.EU campaign founded by Arron Banks and wrote to 15 million UK householders asking them to support the leave campaign in the European Union membership referendum.[21][22]
In May 2016, Hargreaves said that Brexit will lead to insecurity, which will turn out to be very effective.[23] Hargreaves said that Theresa May should reassure the three million EU nationals already in the UK that their current rights would be maintained.[24]
Hargreaves donated £1m to the Conservatives’ election fund in 2019.[25]
In 1986 he married Rosemary; they have one son and one daughter.[26] They live in a Georgian property in the West Country, where he grows his own vegetables.[4] He owns three racehorses.[6]