Entity: Jeremy Hosking

Entity: Jeremy Hosking 
 Basic Information 
 
 Type : Person / Donor / Investor 
 Status : Active 
 Background : Co-founder of Marathon Asset Management, hedge fund manager 
 Education : Rugby School, St Catharine's College Cambridge (geography, 1979) 
 Companies : Marathon Asset Management (via MAM Investments, Jersey-registered parent), Hosking Partners 
 Political role : Major donor to Reform UK, UKIP, Brexit campaigns 
 
 Role in Ecosystem 
 Jeremy Hosking is one of the key financial backers of the UK right-populist ecosystem and a central figure in what Peter Geoghegan calls the "£130m network" alongside Marshall, Legatum, and Harborne. 
 Hosking is significant because: 
 
 He's donated £2.4m+ to Reform UK since 2019 
 His wealth is linked to offshore structures (Jersey-registered parent company) 
 He has major fossil fuel investments and funds anti-net-zero campaigns 
 He represents the fossil fuel capital → right-wing politics pipeline 
 
 Money IN (Funding Received) 
 
 
 
 Date 
 From 
 Amount 
 Type 
 Confidence 
 Source 
 
 
 
 
 Ongoing 
 Marathon Asset Management 
 Profits/dividends 
 Investment management 
 CONFIRMED 
 Public knowledge 
 
 
 Ongoing 
 Hosking Partners 
 Profits 
 Investment firm 
 CONFIRMED 
 Public knowledge 
 
 
 Ongoing 
 Fossil fuel investments 
 £1.8bn+ in shares 
 Investment returns 
 CONFIRMED 
 DeSmog Oct 2023 
 
 
 
 Narrative : Hosking's wealth derives from hedge fund management (Marathon Asset Management) and significant fossil fuel investments. DeSmog revealed his hedge fund owns shares worth £1.8bn in fossil fuel companies. 
 Offshore structure : Marathon Asset Management is owned via a parent company in Jersey (MAM Investments), raising questions about tax optimization and transparency. 
 Money OUT (Funding Given) 
 
 
 
 Date 
 To 
 Amount 
 Type 
 Confidence 
 Source 
 
 
 
 
 2019-ongoing 
 Reform UK 
 £2,468,000+ 
 Political donations 
 CONFIRMED 
 Electoral Commission via The Mirror 
 
 
 Various 
 UKIP 
 Unknown 
 Political donations 
 REPORTED 
 Media reports 
 
 
 Various 
 Brexit campaigns 
 Unknown 
 Political donations 
 REPORTED 
 Media reports 
 
 
 Various 
 Anti-net-zero campaigns 
 Unknown 
 Campaign funding 
 REPORTED 
 openDemocracy 
 
 
 2020-ongoing 
 Various right-wing causes 
 £3m+ 
 Donations 
 CONFIRMED 
 Grokipedia 
 
 
 
 Narrative : Hosking has given £2.4m+ to Reform UK since 2019, making him one of the party's major donors. He also funds anti-net-zero campaigns and has given £3m+ to various right-wing causes since 2020. 
 Key pattern : Hosking funds both electoral politics (Reform UK) AND issue campaigns (anti-net-zero), creating a multi-vector influence strategy. 
 Companies / Entities Controlled 
 
 
 
 Company Name 
 Number 
 Role 
 Status 
 Notes 
 
 
 
 
 Marathon Asset Management 
 Unknown 
 Co-founder/controlling shareholder 
 Active 
 Via MAM Investments (Jersey) 
 
 
 Hosking Partners 
 Unknown 
 Founder 
 Active 
 Investment firm 
 
 
 MAM Investments 
 Unknown 
 Parent company 
 Active 
 Jersey-registered 
 
 
 
 Action needed : Companies House search for Marathon Asset Management, Hosking Partners, MAM Investments 
 Known Associations 
 
 
 
 Person/Org 
 Relationship 
 Evidence 
 
 
 
 
 Reform UK 
 Major donor (£2.4m+) 
 Electoral Commission 
 
 
 UKIP 
 Former donor 
 Media reports 
 
 
 Christopher Harborne 
 Fellow Reform donor 
 Geoghegan reporting 
 
 
 Paul Marshall 
 Fellow £130m network member 
 Geoghegan reporting 
 
 
 Legatum Group 
 Fellow £130m network member 
 Geoghegan reporting 
 
 
 
 Political Influence 
 Reform UK Funding 
 
 £2,468,000+ donated since 2019 
 Part of the £130m network with Marshall, Legatum, Harborne 
 
 Anti-Net-Zero Campaigns 
 
 Funds campaigns to scrap UK emissions targets 
 openDemocracy (March 2022): "Brexiteer behind net-zero backlash has $130m in fossil fuel" 
 Represents fossil fuel industry interests in climate policy debates 
 
 Offshore Structure 
 
 Marathon Asset Management owned via Jersey-registered parent company 
 The Mirror (2024): "More than two-thirds of the money his party depends on is linked to offshore" 
 
 Legal / Regulatory Questions 
 Offshore connections : 
 
 Is the Jersey-registered parent company (MAM Investments) a tax optimization strategy? 
 Does this structure affect transparency of political donations? 
 Good Law Project (Sept 2024): "The offshore bonanza powering Reform's far-right rhetoric" 
 
 Fossil fuel influence : 
 
 Hosking's £1.8bn in fossil fuel shares creates clear conflict of interest in climate policy 
 Funding anti-net-zero campaigns while holding fossil fuel investments 
 
 Media Coverage 
 
 
 
 Date 
 Outlet 
 Headline 
 Key Claims 
 URL 
 
 
 
 
 2022-03-22 
 openDemocracy 
 "Brexiteer behind net-zero backlash has $130m in fossil fuel" 
 Hosking funding anti-net-zero campaigns, fossil fuel investments 
 https://www.opendemocracy.net/en/jeremy-hosking-brexit-donor-net-zero-invest-fossil-fuels/ 
 
 
 2024 
 The Mirror 
 "Most donations to Nigel Farage's Reform UK come from wealthy people or firms linked to tax havens" 
 £2.4m to Reform UK, Jersey-registered parent company 
 https://www.mirror.co.uk/news/politics/most-donations-nigel-farages-reform-33718602 
 
 
 2024-09-21 
 Good Law Project 
 "The offshore bonanza powering Reform's far-right rhetoric" 
 Offshore links in Reform UK funding 
 https://goodlawproject.org/the-offshore-bonanza-powering-reforms-far-right-rhetoric/ 
 
 
 2025-12-12 
 Open Britain 
 "Three Millionaires Behind Farage's 'People's Revolt'" 
 Hosking as one of three key Reform donors 
 https://www.open-britain.co.uk/blog/the-three-millionaires-behind-reform-uk 
 
 
 Various 
 Grokipedia 
 Jeremy Hosking profile 
 £3m+ to right-wing causes since 2020 
 https://grokipedia.com/page/Jeremy_Hosking 
 
 
 
 Research Notes 
 Key questions : 
 
 Total donations : What's the complete donation history to all parties/causes? Need full Electoral Commission search. 
 Fossil fuel holdings : Full list of fossil fuel companies Marathon owns shares in? 
 Anti-net-zero funding : Which specific campaigns/organisations has he funded? 
 Jersey structure : What's the exact ownership structure via MAM Investments? 
 Network overlap : Full overlap with other £130m network members (Marshall, Legatum, Harborne)? 
 Companies House : Full directorships, PSC records for all his companies 
 
 Leads to follow : 
 
 Electoral Commission complete search: "Jeremy Hosking", "Marathon Asset Management" 
 Companies House: Marathon Asset Management, Hosking Partners, MAM Investments 
 DeSmog investigation: full fossil fuel holdings (£1.8bn+ shares) 
 openDemocracy: anti-net-zero campaign funding details 
 Cross-reference with other £130m network donors 
 
 Red flags : 
 
 £2.4m+ to Reform UK from offshore-linked wealth 
 £1.8bn in fossil fuel investments while funding anti-climate campaigns 
 Jersey-registered parent company raises transparency questions 
 Part of coordinated £130m network with other billionaire donors 
 Funding both electoral politics AND issue campaigns (multi-vector influence) 
 
 Significance : Hosking represents the fossil fuel → right-wing politics pipeline: 
 
 Fossil fuel wealth funding populist right parties 
 Offshore structures obscuring transparency 
 Anti-climate campaigns protecting investment interests 
 Coordinated network with other billionaire donors 
 Multi-vector influence (electoral + issue campaigns) 
 
 Last Updated 
 
 Date : 2026-06-14 
 Researcher : Initial data collection session 
 Next actions :
 
 Electoral Commission full donation history 
 Companies House search (all companies) 
 Fossil fuel holdings analysis 
 Anti-net-zero campaign funding mapping 
 Network overlap with other £130m donors