Patrick Degorce
 Patrick Degorce    (hedge fund manager) | |
|---|---|
| Born | January 1969 |
| Founder of | Theleme Partners |
Patrick Degorce is a French hedge fund manager, and the founder and chief executive officer (CEO) of Thélème Partners LLP.[1]
Contents
Early life
Patrick Degorce has French nationality, and Swiss residence.
Career
Patrick Degorce was an officer in the French Navy in his 20s, before switching to a career in financial services.
Fund manager
He worked for Merrill Lynch Investment Managers for seven years, rising to fund manager.
In 2003, Degorce was a co-founder, along with Chris Hohn, of The Children's Investment Fund Management (TCI) hedge fund.
In 2007, Degorce wrote to the Dutch bank ABN AMRO calling for its break up, citing its unsuccessful cost-cutting plans. His letter and subsequent press attention ultimately led to its purchase by a consortium led by Royal Bank of Scotland, in what was at the time the world's largest bank takeover at US$98.3 billion.[2]
In October 2017, following hearings at lower courts, three judges at the Court of Appeal ruled in favour of HMRC in respect of a film financing tax avoidance scheme dating back to 2006–07, and Degorce was liable to pay tax of £7.5 million.[3]
Founder and CEO
In 2009, Degorce founded Thélème Partners LLP, a hedge fund based at 15 Davies Street, Mayfair, London, and is Theleme's CEO and CIO. Theleme is based in the same premises as hedge fund powerhouse Lansdowne Partners, with whom they share some back office functions.
In 2011, Degorce was one of the earliest investors in the pharmaceutical company Moderna (when they only had about ten employees), in the hope that they could help find a cure for his "high school sweetheart" wife, who had Stage IV lung cancer.[4]
As of November 2017, Theleme Partners managed funds totalling US$2.8 billion.[5]
PM's boss
Patrick Degorce was British Prime Minister Rishi Sunak's boss at TCI Fund Management and Theleme Partners. [6] In 2021, as Chancellor of the Exchequer, Sunak approved the UK government's purchase of 5 million doses of the Moderna Covid vaccine worth in excess of £100 million. When challenged over this potential conflict of interest, Sunak declined to say whether he still had a financial interest in Theleme, claiming he did not know how his assets were being invested.[7]
Awkward Git's Newsletter
According to Awkward Git's Newsletter of 3 October 2022:[8]
What a web of financial shenanigans and incestuous relationships with all the usual suspects.
So Rishi Sunak, is one of the main investors in Theleme Partners.[9]
Who have an estimated US$908 million stake in Moderna.
Which is a lot of money invested in a company that had when they initially invested in the company there had been ZERO products to market, ZERO track record of making anything and one contract with the US’s DoD/DARPA.[10]
And other large investors include Blackrock and Vanguard - no surprise they have their sticky mitts in the pie is it? AstraZeneca were also involved with them prior to the IPO:[11]
And another give away that mRNA changes DNA/RNA is in the company’s name - ModeRNA - “named from the combined terms 'modified' and 'RNA' that just happens to contain 'modern'.“[12]
And you know Rishi Sunak, who was the then Chancellor of the Exchequer, the person who signed off on the spending tens of billions of GBPs on Covid vaccines, never admitted beforehand he could profit from some of the contracts.
ModeRNA is also not a good place to work from this account: "Ego, ambition, and turmoil: Inside one of biotech’s most secretive startups."
And this is no surprise is it?
Moderna's CEO Stéphane Bancel was selected a Young Global Leader by the World Economic Forum in 2009. He appears quite a bit when searching the WEF website: "WEF Search results for 'bancel'"
Add in the Bill and Melinda Gates Foundation, GAVI, CEPI, GSK etc etc connections and it’s no surprise that they had so many high profile investors.
But with an attitude like Bancel’s is it no wonder that his company’s products are not fit for purpose:
- “Messenger RNA is like software,”
- “If it works in one disease, it should work for thousands.”
Most biotech startups focus on one or two leading drug candidates at first, pushing them through human trials before turning to another target. Moderna, by contrast, has nearly 100 projects going at once. With mRNA, “you can just turn the crank and get a lot of products going into development,” Bancel explained, flashing a smile as though he himself was bemused by the idea’s simplicity.[13]
References
- ↑ "Hedgie Degorce calls up old friends to set up a fund at Lansdowne’s offices"
- ↑ "TCI founder, partner Degorce leaves hedge firm"
- ↑ "Hedge fund manager loses multi-million pound tax battle"
- ↑ "The Millionaire Who Gave Moderna a Shot"
- ↑ "Tomorrow’s Titans 2010-2016: Revisited – How have they done?"
- ↑ "New chancellor Rishi Sunak challenged over hedge fund past"
- ↑ "Will millionaire Rishi Sunak PROFIT from new Moderna coronavirus vaccine? Chancellor refuses to say if he still has money in hedge fund he founded that is a major investor in pharmaceutical manufacturer"
- ↑ "Rishi Sunak, Thélème and Moderna"
- ↑ "Theleme Partners LL.P. 13F annual report"
- ↑ https://www.wikispooks.com/wiki/Moderna
- ↑ https://www.businessinsider.com/biggest-investors-in-moderna-before-initial-public-offering-2018-11?op=1&r=US&IR=T
- ↑ https://en.wikipedia.org/wiki/Moderna
- ↑ "Theleme Partners, Moderna and Rishi Sunak"
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