Wetherspoons boss Tim Martin is £44 million richer today after election result

15 Décembre, 2019, 22:09 | Auteur: Auguste Feret
  • Wetherspoons boss £44m richer after election result

Although the Wetherspoons king backed Brexit Party leader Nigel Farage - who did not garner a single seat in the election - Mr Johnson's win provided Mr Martin with a surprising boost to his bank balance.

The staunch Brexiteer had backed Nigel Farage's Brexit Party going into the poll, but shares in his pub chain jumped almost 10 per cent in wake of the Conservative majority. The stock market soared after the election result, which saw shares in the popular pub chain rise by almost 10 percent.

A Wetherspoons share is now worth 1,619p, up from 1,482p.

Mr Martin has been one of few United Kingdom business leaders to speak in support of Brexit - putting him at odds with the majority of other companies, which continue to warn that the new government must provide clarity on the future relationship with the EU.

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He used his Wetherspoons magazine to put forward his case for Brexit, the pub group also spent £94,856 on Brexit beer mats and other publications.

Mr Martin also vowed to remove European Union drinks from menus - although favourite tipples including Guinness from Ireland and Prosecco from Italy are expected to stay.

Earlier this week, Wetherspoons also announced plans to invest more than £200 million in pubs and hotels over the next four years, creating around 10,000 jobs.

Wetherspoons operates 875 pubs and 58 hotels across the United Kingdom and Ireland, with 44,000 staff.


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