David Cameron could get millions in windfall from SECOND firm
David Cameron could get millions in windfall from SECOND firm: Former Prime Minister is in line for another bumper pay day from £1.1billion company’s stock market move
- David Cameron’s £1.1billion company he advises looks to float on stock market
- Understood he is poised to earn a fresh windfall from US tech company Afiniti
- Mr Cameron has small stake in the firm, but exact amount not publicly disclosed
David Cameron is in line for another bumper pay day as a £1.1billion company he advises looks to float on the stock market.
Earlier this month it was claimed that the former prime minister made more than £7million from another firm he advised – Greensill Capital – before it collapsed.
It is understood he is now poised to earn a fresh windfall from a US tech company called Afiniti, which is looking at options on going public on the New York Stock Exchange.
This month it was claimed that David Cameron (pictured with Lex Greensill) made more than £7million from Greensill Capital – before it collapsed
Mr Cameron has a small stake in the firm, although the exact amount has not been publicly disclosed.
Company with best connections
Afiniti may be a little-known tech firm based in Bermuda but its staff list reads like a copy of Who’s Who.
Alongside David Cameron is a string of political big hitters, including former US Treasury Secretary John Snow and ex-Spanish president Jose Maria Aznar.
His son Alonso works in the Madrid office.
The company also has strong links to the British aristocracy and Royal Family, with Princess Beatrice, Prince Harry’s friend Tom Inskip and Winston Churchill’s great-grandson Archie Soames on the roster.
Even some of the UK’s finest sportsmen have found a home at Afiniti.
Former Rugby World Cup winner Will Greenwood is the UK’s chief customer officer.
However, the last time Afiniti went to investors for funds in 2017 it was valued at £1.1billion, meaning that even a 1 per cent stake would be worth £11million.
Mr Cameron’s business career since he left Downing Street five years ago has been lucrative but controversial.
His reputation has been damaged by the fallout from the collapse of Greensill – the finance company which went bust earlier this year after a lobbying blitz by the ex-PM to secure further Government coronavirus loans failed.
He is said to have made £7.2million before tax in just two and a half years as a part-time adviser to Greensill, through pay, bonus and shares – although he insisted the figure was wrong.
Mr Cameron has taken roles and stakes at a number of fast-growing companies in the hope that when they float he will earn a hefty return.
He joined Afiniti in May 2019 and is head of the company’s advisory board.
Others on the board include former chief executive of insurers Aviva, Mark Wilson, and Australian banker Rob Rankin.
Afiniti, which provides technology for call centres, counts blue-chip companies such as Vodafone, Sky and Axa Direct Assurance as clients.
It has courted interest in recent months and is taking advice from merchant bank LionTree about the best way to float on the market.
Founded in 2005 by serial entrepreneur Zia Chishti – who invented Invisalign dental braces – Afiniti has its headquarters in tax haven Bermuda.
Among its staff are a host of political grandees and British aristocrats, including Princess Beatrice and former Spanish prime minister Jose Maria Aznar.
Mr Cameron is in line for another bumper pay day from a US tech company called Afiniti
However, despite the line-up a source close to the company said Afiniti has no government contracts.
She added: ‘The bottom line is these people can open doors, their networks are out of the ordinary. That’s why they are hired.’
LionTree, meanwhile, is run by flamboyant New York banker Aryeh Bourkoff, well known for his celebrity friends including former White House communications director Hope Hicks.
The firm also employs Ed Vaizey, a former Tory culture minister, at its office in London.
A spokesman for Mr Cameron declined to comment.
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