Skip to main content
Latest 25 April 2024

Government ordered to disclose Sunak’s hedge fund emails

Chris Jobs / Alamy

Good Law Project has won a battle with the Treasury after it tried to suppress emails between Rishi Sunak and the hedge fund he founded.

The Information Commissioner has ordered the government to reveal details of Rishi Sunak’s dealings with the hedge fund he founded, which we hope will shed light on whether there are links between the prime minister and the surging profits the fund made from investments in the biotech firm Moderna.

Sunak has refused to say whether he profited personally from Theleme Partners, which had invested heavily in Moderna before the UK government rolled out its vaccine across the UK during the pandemic.

We asked the Treasury to release details of the then chancellor’s contacts with Theleme Partners. But the department blocked our request.

Good Law Project is powered by people across the UKDonate now

Shortly after Sunak became prime minister, Moderna’s future was further bolstered by a 10-year contract it signed with the UK government. The Moderna vaccine has saved lives, but questions remain over whether Sunak retains a financial interest in Theleme. If he does, a major conflict of interest scandal could be on the cards.

Sunak has faced past media scrutiny over this, but refused to answer questions. So, last summer Good Law Project requested copies of WhatsApps, text messages, and emails sent between Sunak and Theleme’s leadership during the pandemic. The Treasury admitted to having these communications, but repeatedly refused to share them. 

We challenged this decision and, following a lengthy complaints process, the Information Commissioner’s Office has sided in our favour, demanding the communications sent by Sunak be revealed. Those sent to Sunak from Theleme will not need to be disclosed.

Theleme has previously denied that Sunak retains an interest “either indirect or direct” in its funds. But when we asked Theleme how it could possibly know whether Sunak was a beneficiary under a trust, it went all quiet.

We’ll of course let you know what we get back.