Didn't he do well!

Sunday Times Rich List: Lewis Hamilton Britain's wealthiest sports star

"Formula 1 driver Lewis Hamilton has been named Britain's wealthiest sports star in the 2020 Sunday Times Rich List.

The 35-year-old's wealth increased by £37m in the past year to £224m, making him the wealthiest sportsperson in the list's 32-year history."

https://www.bbc.co.uk/sport/52648088

It's hard to imagine how personal wealth can increase by £37 million let alone to even realise how much £224 million really is. Nice to just imagine what it could buy though!

Any thoughts on this anyone?

Re: Didn't he do well!

Shame he's not a British taxpayer, he deserted the country that made it all possible just to save a little bit of income tax. Many thanks Lewis, I jope that you and your quillions are very happy together, but just don't call yourself British...

Re: Didn't he do well!

To be honest Barry I hadn't given that aspect of things a thought, that's not something I usually immediately do. I have just followed his racing career and always admired his driving skills.

In the case of him avoiding paying tax in the country that made his £ millions possible though, it does make me wonder why, with all those £ millions he has to save whatever that saves, risking being called unpatriotic?

That is now rather obvious, after I did my usual research, and came up with the following links (almost makes me wish I hadn't started the thread ):

https://www.prospectmagazine.co.uk/p...e-pays-his-tax

https://www.theguardian.com/news/201...aradise-papers

Re: Didn't he do well!

Sorry Baz, didn't want to spoil your thread but all of these superstars that avoid paying tax by moving abroad really pee me off, particularly when what they would be left with would be nothing short of an annual lottery win anyway ! Grrrr....

Re: Didn't he do well!

I think that's why Hamilton is the British champion that isn't (if you know what I mean).

Re: Didn't he do well!

No problem Barry, I quite agree with you as they annoy me too. All I immediately thought was that he had done well with his driving / racing skills. After reading your post and checking I then recalled the incident with the aircraft landing in the Isle of Man, at the cost of the tax payer, then found other links relating to avoiding tax by various methods. Should have guessed really as they do all avoid tax in this way, they have accountants who more or less tell them what to do.

Yes, I do know what you mean Longdogs it's still such a shame though to be so greedy when they already have more £ millions than they need to live really well! Their ethics though are unlike those of us who learned from a young age the 'work ethic' and really do 'work' for a living being paid by the hour, their 'ethics' seem to be just to gain as much as possible.

Re: Didn't he do well!

I suppose it depends on whether they are in it for the money or in it because they like to represent their Country. Despite Hamilton's achievements, he hardly gets a mention really.

Re: Didn't he do well!

I agree with you there. When he first started in his racing career he appeared to do it for the love of the sport, perhaps he also did it for his country. Then it seems he became 'greedy' and maybe as a result the public saw this and now do not have the same high opinion of him as they used to. He made the choice to avoid tax but could have both represented his country, kept the support of the public and had the £ millions, only just a few less!

Maybe now with him hardly getting a mention is the 'chickens coming home to roost'!

Re: Didn't he do well!

Properly invested, £224M will bring in about £9M/yr at 4% (dividend payments) + the chance of equity growth. I could do a hell of a lot of good for so many other on £9M/yr.

Re: Didn't he do well!

I love formula 1 and I have been twice. Once in Adelaide and once in Melbourne. Despite the modern safety standards those drivers still put the lives on the line every time they race..or practice for that matter. But they are superstars as much as the Rolling Stones, Springsteen or Brad Pitt. They deserve to be paid well. BUT!..it's the sheer amount they get that galls me. Same with the tennis, football, baseball and basketball players. Sure they are amazing at what they do and make a lot of people money but nobody is worth what some of them get. And that includes the movie stars. And the real obscene bit is the way they don't pay tax on it. If you earn money in a country you pay tax in that country. THat's my belief.