Cameron wealth mounts since quitting as PM


David Cameron’s private company had net assets of £873,821 early last year, according to accounts filed with the UK companies registrar — more than five times his salary when he was prime minister.

The former Tory leader is widely seen as the “Accidental Godfather of Brexit”, having authorised the June 2016 EU referendum on the assumption that the Remain side would win easily.

Instead, Mr Cameron quit within hours of the 52:48 victory for Leave and resigned as an MP three months later, since when he has stayed out of the political fray.

The accounts for the year to April 2019 for the Office of David Cameron, the company that manages his speaking and media engagements, were published at Companies House just hours before the UK leaves the EU on Friday evening.

The company, set up in October 2016 and based in Lincolnshire, published a balance sheet showing £538,075 of cash, £165,742 of financial assets and £128,190 in an investment property. It had £220,319 attributed to debtors and £174,549 to creditors.

In the previous year the company had net assets of £790,274. The accounts do not provide a figure for the company’s annual profit.

Mr Cameron published his memoirs, entitled For The Record, last September and has taken a job as chairman of the advisory board of US artificial intelligence company Afiniti. Other roles include president of Alzheimer’s Research UK and chairman of the National Citizen Service’s board of patrons.

Mr Cameron is among several high-profile former political figures listed with Washington Speakers Bureau, a US-based agency. Others include Mr Cameron’s successor as prime minister, Theresa May; former chancellor Philip Hammond; and Alastair Campbell, one-time spin-doctor of ex-Labour prime minister Tony Blair. On one occasion Mr Cameron was paid £120,000 for a speech to a financial company in New York.

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Mr Cameron is the vice-chair of a group trying to set up a $1bn China investment fund, led by his old friend Peter Gummer, Lord Chadlington, a veteran of the public relations industry. But the group has still failed to carry out a first round of fundraising 25 months after it was announced.

Those involved in the “UK-China Fund” told the FT last April that it was just weeks away from raising the money. The former prime minister’s spokesman confirmed last week that this had not yet occurred.

While his earnings are much higher than his salary as prime minister, they are not in the same league as his former chancellor George Osborne or Mr Blair. Mr Osborne has accumulated nine jobs ranging from editor of London’s Evening Standard to a £650,000-a-year advisory role at BlackRock, the asset management giant.

Mr Blair has amassed a fortune, including various properties, after setting up an advisory firm called Tony Blair Associates with clients including foreign governments and controversial companies.

Meanwhile Mrs May, who remains an MP, has made nearly £400,000 of income since quitting as prime minister, according to the House of Commons register of interests.

She received a £190,000 “signing bonus” from Washington Speakers Bureau and in December earned £100,000 from investment bank UBS Switzerland AG for delivering a speech at a conference for the group. She received another £75,500 for a speech at JPMorgan Chase, another investment bank.

The money is paid to the Office of Theresa May Limited, which was incorporated last October. The former prime minister has said the funds “will be used to pay employees, maintain my ongoing involvement in public life and support my charitable work”.

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