A Hedge Fund Paid Boris Johnson $121,000 for Two-Hour Speech

(Bloomberg) -- Life outside the cabinet is proving lucrative for Boris Johnson.

The former U.K. Foreign Secretary was paid more than 94,500 pounds ($121,000) by GoldenTree Asset Management, a New York-based hedge fund, for a two-hour speech earlier this month. Travel and accommodation were also provided, according to a parliamentary filing.

A Hedge Fund Paid Boris Johnson $121,000 for Two-Hour Speech

His fee outshines those of former Chancellor of the Exchequer George Osborne, who was paid just over 85,000 pounds by Citigroup Inc. for two speeches in 2016 after he was sacked from the cabinet. Johnson is already one of the Members of Parliament who is well compensated for external work - he is paid about 250,000 pounds a year for a column for The Telegraph newspaper.

GoldenTree, which manages about $28 billion, together with other bondholders took over the “i” national newspaper and 200 other titles after the collapse of Johnston Press Plc earlier this month.

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