Legatum

[[File:Legatum Logo Update.jpg|thumb|right|165px|Legatum logo: [[Classical antiquity#Misrepresentation|classical antiquity]] abuse]]
{{UKpolitics}}
'''Legatum''' is a Dubai-based investment company which funds a variety of [[right-wing]] campaigning organisations and charitable ventures. These include the '''Legatum Institute''', a [[UK|British]] right-wing [[think tank]]. The Legatum group also part-owns right-wing TV channel [[GB News]]. Legatum is owned by Christopher Chandler {{lived|1960}}, a businessman born in [[New Zealand]] and resident in Dubai, [[UAE]].<ref name=od2017/> The name Legatum is [[Latin]] for "legate", meaning either a [[Papal]] representative or high-ranking provincial official in the [[Roman Empire]].

Legatum derives from Sovereign Capital, founded by Christopher Chandler and his brother Richard. The Chandlers made their fortune in [[Russia]] during the chaotic transition from [[Soviet]] rule to [[free market]] [[economics]], leading to accusations of practising "disaster capitalism". They became major shareholders in state energy company Gazprom, and reportedly helped [[Vladimir Putin]] take control of the business by installing a Putin ally as chief executive. But the brothers split their partnership in 2006 and Christopher Chandler turned his business interests into Legatum.<ref name=od2017/><ref name=guardian2018/>

==Legatum Institute==
Legatum Institute is a think tank based in [[London]] and founded by Chandler.<ref name=od2017/> It receives funding from the Legatum Group, but according to the UK Charity Commission is "substantially independent".<ref name=cc>[https://www.gov.uk/government/publications/charity-case-report-legatum-institute-foundation/legatum-institute-foundation-case-report Legatum Institute Foundation: case report], Charity Commission, 1 June 2018</ref> In 2017, the ''Financial Times'' reported that £3.9m of its total £4.3m funding had come from the Legatum Foundation Limited; the remaining money came from 40 other donors.<ref name=ft>"Legatum: the think-tank at intellectual heart of ‘hard’ Brexit", ''Financial Times'', 4 Dec 2017, [https://archive.ph/v537E archive.ph]</ref>

Initially it had somewhat [[liberal]], internationalist elements with members including {{wpl|Anne Applebaum}} and {{wpl|Peter Pomerantsev||.}}<ref name=od2017/>

However, Legatum reoriented after the 2016 [[Brexit]] referendum. At that time, Conservative member of the House of Lords Philippa Stroud (a former adviser to ex-[[Tory]] leader Iain Duncan Smith) became CEO, joined by Toby Baxendale (a former colleague of [[Steve Baker]] at [[Far right|radical-right]] campaigning group Cobden Centre) and Matthew Elliott (of pro-Brexit group Vote Leave and the [[TaxPayers' Alliance]]).<ref name=od2017/> It became a strong advocate for a hard Brexit, leading OpenDemocracy to describe it as "arguably the most influential think tank in the country" in 2017.<ref name=od2017>[https://www.opendemocracy.net/en/dark-money-investigations/legatum-who-are-brexiteers-favourite-think-tank-and-who-is-behind-them/ Legatum: the Brexiteers’ favourite think tank. Who is behind them?], OpenDemocracy, 26 Nov 2017</ref> It also called for the removal of all tariffs and free trade.<ref name=od2017/>

Employees include Shanker Singham, a proponent of [[charter city|charter cities]] and other eccentric extremely right-wing ideas, who held several meetings with the Conservative Government after Brexit and has acted as an adviser to [[Boris Johnson]]'s government.<ref name=ft/>

As well as Chandler, it has received [[money]] from {{wpl|Paul Marshall (investor)|Paul Marshall|,}} the businessman who also owns right-wing opinion website [[UnHerd]].<ref name=od2017/> In 2017, the ''[[Daily Mail|Mail On Sunday]]'' claimed it had links to the Russian state, which Legatum denied.<ref>[https://www.independent.co.uk/news/uk/politics/brexit-latest-thinktank-russia-legatum-institute-boris-johnson-michael-gove-christopher-chandler-gazprom-putin-a8076436.html Thinktank which 'helped draft Johnson and Gove letter to May influencing Brexit policy' denies Russia links], The Independent, 26 Nov 2017</ref> Similar allegations resurfaced in 2018, when they were raised by British Conservative MP Bob Seely, apparently inspired by [[Monaco|Monegasque]] and [[France|French]] intelligence reports.<ref name=guardian2018>[https://www.theguardian.com/world/2018/may/15/billionaire-christopher-chandler-denies-spy-claims Billionaire Christopher Chandler denies spy claims], The Guardian, 15 May 2018</ref>

In 2018, the Charity Commission for England and Wales criticised the Legatum Institute over a report by its Special Trade Commission, which the Charity Commission felt was always intended to argue for [[free trade]] rather than act as an impartial, factual assessment; this violated the Institute's educational purpose.<ref name=cc/>

==Legatum==
The Legatum Group (also known as Legatum) has a number of subdivisions, including investment funds, the Legatum Center for Development and Entrepreneurship at MIT, and various charities targeting such worthwhile causes as tropical diseases, [[modern slavery]], and [[education]].<ref>[https://www.legatum.com/about/organisation/ About: Organisation], Legatum website, accessed 29 August 2022</ref>

Legatum Ventures Limited is a major shareholder in the extremely right-wing British television channel GB News.<ref>[https://www.legatum.com/news/article/gb-news-announces-major-shareholder-investment-new-talent-and-programmes/ GB News announces major shareholder investment, new talent and programmes], Legatum.com, 18 Aug 2022</ref>

Its other more innocuous interests include publishing the {{wpl|Legatum Prosperity Index||,}} which ranks nations worldwide according to quality of life and well-being.

==See also==
* [[Institute of Economic Affairs]]

==External links==
* [https://www.desmog.com/legatum-institute/ DeSmog]

==References==
{{Reflist|2|90%}}