XTX Founder Donates £26 Million to Boost UK Mathematics Research

Billionaire Alex Gerko is donating £26 million to support mathematics research at British universities. The founder of the algorithmic trading firm XTX Markets says the United Kingdom is failing to attract and keep top academic talent. Gerko stated that salaries for leading mathematicians in the UK are too low. This makes it difficult for universities to compete with global rivals and private companies. His donation aims to close this funding gap. The gift will create 24 new permanent teaching and research positions across four universities. These positions are designed to be more flexible and better paid than standard academic roles. The universities of Cambridge, Oxford, Warwick, and Imperial College London will each receive funding for six posts. XTX Markets is a major "quantitative" or algorithmic trading firm. These firms use complex mathematical models to execute financial trades. Gerko argues that strong fundamental mathematics research is critical for the UK's technology and financial sectors. The donation is one of the largest ever private gifts to UK mathematics. It reflects a growing trend of technology and finance leaders directly funding scientific research.