Alex Gerko, a Russian-born British billionaire, is the co-founder and co-CEO of XTX Markets, one of the world’s largest quantitative trading firms. Gerko’s remarkable journey from a university math student to a global financial powerhouse is a testament to his brilliant mind and his ability to turn mathematical theory into profit-generating strategies. Known for his quiet demeanor, immense wealth, and a deep commitment to philanthropy, Alex Gerko is a prominent figure in the world of finance, algorithmic trading, and mathematics.
Early Life and Education
Born on December 3, 1979, in Moscow, Russia, Alex Gerko displayed an aptitude for mathematics from an early age. His academic journey was defined by excellence, beginning at Moscow State University, where he pursued a BSc, MSc, and PhD in Mathematics. He also studied economics at the New Economic School in Russia. These formative years of rigorous academic training laid the foundation for his future in quantitative finance.
Gerko’s academic achievements weren’t merely a product of talent but also a deep passion for problem-solving. His skills in advanced mathematics, combined with an understanding of economics, gave him a unique perspective on how to model and navigate financial markets.
Professional Career and the Rise of XTX Markets
Alex Gerko’s career trajectory was closely tied to his expertise in quantitative finance. After completing his studies, he ventured into the world of finance, starting with a role at Deutsche Bank in 2004. At Deutsche Bank, he worked as a quantitative equities and foreign exchange (FX) trader, sharpening his skills in trading strategies based on mathematical models. His work at Deutsche Bank was just the beginning of a highly successful career in financial markets.
In 2009, Gerko moved on to GSA Capital, a prominent hedge fund where he became the head of FX trading. During his tenure at GSA, Gerko developed his expertise in systematic trading strategies, employing mathematics and technology to guide his trading decisions. In early 2015, after his time at GSA, Gerko took the bold step of founding XTX Markets, a revolutionary firm that was built on algorithmic and quantitative trading.
The Success of XTX Markets
Founded in 2015, XTX Markets quickly became a leader in the field of quantitative trading. The firm is a market-making and liquidity provider that focuses on algorithmic strategies powered by cutting-edge technology. Gerko’s vision for XTX was unique — rather than relying on managing external capital like traditional hedge funds, XTX trades its own capital, utilizing sophisticated mathematical models and machine learning algorithms to make decisions in real-time.
XTX Markets has grown exponentially since its founding, becoming one of the largest algorithmic trading firms in the world. With a daily trading volume of over $250 billion, XTX trades across multiple asset classes, including equities, FX, fixed income, and commodities. As of 2025, XTX is reported to handle some of the largest volumes of trades globally, with a small but highly efficient team of about 250 employees.
A key to the firm’s success lies in its approach to technology. XTX relies heavily on artificial intelligence and machine learning, ensuring that it stays at the cutting edge of finance. The company’s use of proprietary algorithms and real-time data analysis has allowed it to thrive even in volatile markets.
Gerko, who is said to own around 75% of XTX Markets, has seen the value of his firm soar, making him one of the richest people in the UK. His firm’s growth is a direct reflection of his ability to combine his academic background with the practicalities of high-stakes finance.
Net Worth and Wealth Management
As of 2025, Alex Gerko’s net worth is estimated to be around $13.4 billion, according to Bloomberg’s Billionaires Index. This immense wealth is primarily a result of his ownership stake in XTX Markets, which has consistently turned massive profits over the years. In 2024, Gerko received a record payout of £682 million from XTX’s profits, solidifying his position among the wealthiest individuals in the UK.
To manage his growing fortune, Gerko established a family office called Cromulon Capital in 2024. This investment vehicle helps him manage his assets and investments. Gerko is also known for being one of the UK’s largest taxpayers, reflecting both his success in business and his commitment to meeting his tax obligations.
Alex Gerko Personal Life: Family and Philanthropy
While Gerko’s professional life is well-documented, his personal life remains relatively private. He is married to Elena Gerko, an economist who previously worked at the Bank of England. The couple has three children and reportedly resides in the Chilterns, a scenic area in the countryside of Buckinghamshire. They live in a luxurious estate with a large house, including a subterranean building that adds an extra layer of opulence to their lifestyle.
Despite his immense wealth, Gerko leads a relatively low-profile life. He has made it clear that his focus is on his business, mathematics, and philanthropy rather than seeking public attention.
One of Gerko’s defining characteristics is his commitment to philanthropy, especially in the field of mathematics and education. He is a strong advocate for promoting mathematical literacy and fostering talent in the field. In 2016, Gerko founded Axiom Maths, an organization aimed at enriching the mathematics education of young people in the UK. Through XTX and his personal efforts, Gerko has funded numerous maths clubs, outreach programs, and research initiatives.
Gerko has also made significant donations to environmental causes, such as a nature restoration project in Scotland. However, his most high-profile philanthropic endeavor has been his commitment to mathematics research. In 2025, XTX pledged a £26.37 million donation to fund PhD and post-doctoral positions across various UK universities, emphasizing the importance of developing the next generation of quantitative thinkers.
Alex Gerko Legal and Tax Matters
As one of the highest taxpayers in the UK, Gerko has faced scrutiny from tax authorities. In 2024, he lost an appeal against the UK tax authority, HM Revenue & Customs, which ruled that a deferred payment scheme from his time at GSA Capital should be taxed as income rather than at lower corporate tax rates. This legal battle highlights the complexities of wealth management and tax regulation that affect the ultra-wealthy.
Despite this, Gerko has continued to be a vocal advocate for the importance of paying taxes and contributing to public infrastructure, and his personal tax payments contribute significantly to the UK economy.
Alex Gerko Public Image and Criticism
Despite being one of the wealthiest individuals in the UK, Gerko maintains a relatively low-key public presence. He rarely appears in the media and is not known for a large social media following, with no widely recognized Twitter account or interviews. This “hands-off” approach has contributed to his relatively private persona, a stark contrast to the high-profile lives of many other billionaire entrepreneurs.
Critics of Gerko’s wealth have raised questions about the influence of private capital on public education, especially in the context of his philanthropic donations. While his contributions to mathematics education are widely praised, some argue that large donations from wealthy individuals can create an unequal playing field in public policy, potentially substituting the need for government funding.
Legacy and Future Impact
Alex Gerko’s influence in both the world of finance and academia cannot be overstated. Through XTX Markets, he has helped popularize algorithmic trading and quantitative finance, reshaping the way markets operate globally. His contributions to the field of mathematics, both as a philanthropist and an advocate for education, are likely to leave a lasting impact on future generations of mathematicians and traders.
Moreover, his wealth, while significant, is only part of his legacy. Gerko’s emphasis on the intersection of finance and technology will continue to shape the landscape of global trading, and his philanthropic efforts will contribute to the growth of mathematical education for years to come.
Conclusion
Alex Gerko is not just a billionaire; he is a visionary who has transformed both the finance industry and the field of mathematics. With his company XTX Markets, his dedication to philanthropy, and his quiet approach to wealth, Gerko has created a legacy that is sure to resonate in the world of finance and beyond for years to come.
