Michael Platt

Michael Platt
Born	Template:Birth year and age
Nationality	British
Occupation	Financier, hedge fund manager
Known for	Founder of BlueCrest Capital Management

Michael Platt (born 1968) is a British billionaire financier and the founder of BlueCrest Capital Management, a trading firm that began as one of Europe's largest hedge funds before converting into a family office in 2015. Since that transition, Platt has traded exclusively with his own capital and that of employees, generating substantial returns through highly leveraged strategies. BlueCrest reported a 73% gain in 2025, continuing a track record that has made Platt one of the wealthiest figures in the global finance industry. Platt's career has also been marked by a protracted legal dispute with His Majesty's Revenue and Customs (HMRC) over the tax treatment of BlueCrest's senior traders, a case that has reached the United Kingdom's Supreme Court.

Career

BlueCrest Capital Management

Michael Platt founded BlueCrest Capital Management, which grew to become one of the largest hedge fund firms in Europe, managing billions of dollars in assets from external investors. The firm specialized in macro and systematic trading strategies, operating from offices in London and other financial centers.

In 2015, Platt made the significant decision to return all outside investor capital and convert BlueCrest from a traditional hedge fund into a family office and proprietary trading operation. Under this structure, the firm trades exclusively with Platt's personal wealth and money belonging to BlueCrest employees. The move freed Platt from the regulatory constraints and investor relations obligations that accompany managing outside capital, allowing him to pursue more aggressive, highly leveraged trading strategies.

Investment Performance

The transition to a family office structure proved lucrative. According to Bloomberg, a series of highly leveraged bets in the years following the conversion made Platt one of the wealthiest people in the financial industry. In 2025, BlueCrest reported a gain of 73%, a particularly notable return that further augmented Platt's personal fortune.

Investment Portfolio

As of early 2026, Platt's investment holdings have attracted attention from financial analysts and media. According to a report by Yahoo Finance, NVIDIA Corporation (NASDAQ: NVDA) represented Platt's largest public equity position, while PG&E Corporation (NYSE: PCG) ranked as his second-largest holding. The composition of his portfolio has been the subject of analysis by financial commentators seeking to understand the strategies employed by major billionaire investors.

HMRC Tax Dispute

Platt and BlueCrest Capital Management have been involved in a lengthy and high-profile legal dispute with HMRC, the United Kingdom's tax authority, concerning the tax treatment of the firm's senior traders. The case centers on approximately £200 million in disputed taxes.

The dispute has progressed through multiple levels of the British judicial system. After experiencing setbacks in lower courts, BlueCrest escalated the matter, and as of early 2026, the case was set to be heard by the United Kingdom's Supreme Court. The outcome of the case is considered significant for the broader financial services industry, as it concerns the classification and tax obligations of senior traders within hedge fund and family office structures.

In October 2025, it was reported that Platt and BlueCrest had taken the additional step of suing their own tax lawyer following the legal setbacks in the HMRC case. According to Bloomberg Tax, the lawsuit was filed in connection with the advice Platt and BlueCrest had received regarding the tax arrangements that subsequently came under scrutiny from HMRC. The FA Magazine also reported on this development, noting that Platt had pursued legal action against his tax counsel after the court case losses.

The Supreme Court hearing represents the final avenue of appeal within the United Kingdom's domestic court system. The resolution of the case is expected to have implications for how HMRC treats compensation arrangements at similar financial firms.

Recognition

Platt's investment returns and personal wealth have made him a frequently cited figure in financial media. His decision to convert BlueCrest from a hedge fund managing outside capital into a family office was covered extensively by financial publications, as it represented one of the most high-profile examples of a major fund manager choosing to return client assets and trade independently. The 73% return achieved by BlueCrest in 2025 drew particular attention from Bloomberg and other outlets, reaffirming Platt's status as one of the most successful proprietary traders in the world.

His investment positions are regularly analyzed by financial media outlets, including Yahoo Finance, which has profiled his largest public equity holdings and examined his investment strategies for insights that may be relevant to other market participants.

The ongoing HMRC tax case has also contributed to Platt's public profile, with publications such as Financial News London, Bloomberg Tax, and FA Magazine covering the legal proceedings in detail. The case has drawn attention not only because of the substantial sums involved but also because of its potential precedent-setting implications for the financial services sector in the United Kingdom.