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TORY Minister and multimillionaire Jacob Rees-Mogg is to become even richer because of the coronavirus pandemic, it was revealed today.
The North-East Somerset MP owns about 15 per cent of a firm that is buying up shares in companies hit by the virus crisis and stands to cash in when their value increases.
Somerset Capital Management (SCM) said that investors have a “once in a generation” chance of “super-normal returns.” Potential gains of up to 500 per cent are being anticipated.
Mr Rees-Mogg stood down as a director of SCM to become Leader of the House of Commons. SCM has claimed that it was focusing on clients’ long-term security.
The Eton-educated toff has been Tory MP for North-East Somerset since 2010 and Lord President of the Council since 2019. He is estimated to be worth at least £100 million.
The revelation came as the death toll in Britain and the north of Ireland rose by a record 708, including a boy aged five.
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