Conservative Party member and Leader of the House of Commons, British politician Jacob Rees-Mogg’s net worth is estimated to be well over £100 million.
Who is Jacob Rees-Mogg?
Jacob William Rees-Mogg is a British politician who is currently serving as Leader of the House of Commons, Lord President of the Council and Chairman of the European Research Group. He has been a Member of Parliament for North East Somerset since 2010.
Childhood and Education
The fourth among five children, Rees-Mogg was born to former editor of The Times newspaper William Rees-Mogg and Gillian Shakespeare Morris on May 24, 1969 in Hammersmith, London.
Raised a Catholic in their country house Ston Easton Park in Somerset (mostly by the family nanny Veronica Crook, who takes care of his own children now), Rees-Mogg studied at Eton College and graduated in History from Trinity College, Oxford in 1991, where he was the president of the Oxford University Conservative Association.
Rees-Mogg’s first job was at the Rothschild investment bank followed by a move to Hong Kong (where he befriended Christopher Patten the last British Governor of the now Chinese territory) to join Lloyd George Management in 1993. He returned to London in 1996 to handle the company’s emerging markets funds and from 2003 to 2007 Rees-Mogg managed Lloyd George Emerging Markets Fund.
In 2007, Jacob founded Somerset Capital Management, a fund management firm. He initially stepped back from the running of Somerset Capital when he became an MP in 2010, but retained an advisory role, which he later withdrew from in 2019 following his appointment as the Leader of the House of Commons.
Rees-Mogg’s political career began at the age of 27 in the 1997 general election when he was chosen as the Conservative Party candidate for the Labour seat of Central Fife, Scotland.
In 2010, the socially conservative, “conviction politician” got elected as the MP for North East Somerset, winning further re-elections in 2015 and 2017. In 2018, the pro-Brexit, Eurosceptic MP was made chairman of the European Research Group.
After Theresa May resigned as Prime Minister in 2019, Boris Johnson was elected with substantial support from Rees-Mogg, who himself was made the Leader of the House of Commons and Lord President of the Council.
As per the Independent Parliamentary Standards Authority (IPSA), Rees-Mogg’s salary as an MP for 2017/2018 was £76,011.
A historic cars enthusiast, the politician owns a 1968 T-Series Bentley, a 1936 3.5 Litre Bentley, as well as a Lexus for daily driving. Rees-Mogg also owns a £5.625 million property behind Westminster Abbey, on Cowley Street (bought in 2018), the £4m freehold of a building in Pall Mall and the £1.5m leasehold of a flat inside it.
Awards and Accolades
In 2017, Rees-Mogg was honoured with the Conservative People’s Choice MP of the Year award.
In 2007, traditionalist High Tory Rees-Mogg married trade magazine writer Helena Anne Beatrix Wentworth Fitzwilliam de Chair (daughter of poet/politician Somerset de Chair). The couple live with their six children in West Harptree, at their 17th-century Grade II-listed Gournay Court manor house.
Rees-Mogg has a fortnightly podcast called The MoggCast.