Ex-Chancellor Sajid Javid will earn more than £300,000 for just three weeks work after landing his second lucrative job outside Parliament, official documents have revealed.
By David Wilcock, Whitehall Correspondent For Mailonline www.dailymail.co.uk
The former Cabinet minister, who quit in February after clashing with the PM’s then aide Dominic Cummings, has been appointed an advisor to a Silicon Valley artificial intelligence firm.
His contract with C3.ai will see him paid £151, 835 for working 80-86 hours a year – or between 10 and 12 days – according to the register of MP’s financial interests.
The pay works out to around £1,900 per hour. He took up the post on October 22 and will provide ‘advice on the global economy, geo-politics and market opportunities’.
It comes months after he landed a similar sum to work for a US-based bank. In August he landed a lucrative role as a senior adviser at JP Morgan, where he started his career as a graduate in New York. He will earn a £150,000 salary for working the same number of hours as at C3.
This is on top of his £80,000 salary as the Conservative MP for Bromsgrove.
The former Cabinet minister, who quit in February after clashing with the PM’s then aide Dominic Cummings, has been appointed an advisor to a Silicon Valley artificial intelligence firm
His contract with C3.ai will see him paid £151,835 for working 80-86 hours a year – or between 10 and 12 days – according to the register of MP’s financial interests
The appointments come as Mr Javid is being tipped by some to return to Boris Johnson’s Cabinet.
Reports suggested he could be brought in in a new year reshuffle if Mr Johnson decides to freshen up his top team.
Mr javid, a former banker who quite the financial world for politics, left the Cabinet just before the coronavirus outbreak in February.
The Bromsgrove MP – who challenged Mr Johnson for the Tory leadership last year before becoming his top minister – was given an ultimatum by the PM that he must accept his political advisers being ousted and replaced by Cummings loyalists to stay in No11.
Instead he chose to walk away and was replaced by his deputy Rishi Sunak.
Days later he made a thinly-veiled attack on Mr Cummings in the Commons, saying he quit as chancellor because changes to the Treasury planned by the powerful aide were ‘not in the national interest’.
It comes months after he landed a similar sum to work for a US-based bank. In August he landed a lucrative role as a senior adviser at JP Morgan (London HQ pictured)
The former minister used a resignation statement in the Commons – in front of a watching Boris Johnson – to say that a semi-merger of behind-the-scenes teams at No10 and N011 would hamper the finance department’s ability to ‘speak truth to power’.
He declined to name Mr Cummings directly, but joked that there had been a lot of gossip already about ‘comings and goings’, to laughter from MPs.
Mr Javid follows in the footsteps of former prime minister Tony Blair, who is paid £2million per year as a part-time global adviser for JP Morgan. The ex-Chancellor will be under strict rules over what he can divulge, especially privileged information gained as a minister.
Earlier this year, JP Morgan posted the biggest annual profits of any US bank in history – just shy of £28billion. Its 64-year-old chief executive Jamie Dimon was the best paid banking boss for a fifth year in a row, scooping £24million.
C3.ai bills itself as ‘a leading enterprise AI software provider’. Today it announced a link-up with defence giant Raytheon, ‘to develop artificial intelligence solutions for aerospace and defense missions for government customers, including the US Air Force and intelligence community.