This article is more than 4 years old

This article is more than 4 years old

Hedge fund manager Crispin Odey has seen his personal fortune plummet by £200m, turning him from billionaire to multimillionaire.

Odey suffered a sharp decline in wealth to £900m after profits tumbled at his hedge fund, Odey Asset Management, according to the Sunday Times Rich List.

His salary was also slashed from £31.8m to £16m as profits plunged to £84.1m last year, down from £174.2m the year before. Odey made headlines early in 2015 predicting a global downturn so severe it would be “remembered in 100 years”.

In a contrast of fortunes, Michael Platt emerged as Britain’s richest hedge fund manager, as the BlueCrest Capital chief amassed a fortune of £2.1bn, the study said.

Platt moved to the top of the pile after seeing his wealth lift by £600m. At the end of last year BlueCrest returned the $7bn (£4.9bn) its investors had with the fund to concentrate on managing Platt’s own fortune.

His rise comes after Alan Howard, co-founder of Brevan Howard, slipped from joint top of the list to fourth place.

The research found that Howard had seen his wealth shrink by £460m to £1.04bn after the Brevan Master Fund fell 1.99% in 2015, with firm-wide assets under management nearly halving in two years to $23.7bn.

Odey, who is financially backing Zac Goldsmith for London mayor and Britain to leave the European Union, made a 22% loss in his €1bn (£694 m) Odey European Fund in the first two weeks of March after failing to score on a number of big bets.

The outspoken hedge fund boss said the funds he has donated to the Vote Leave group, which is pushing for Brexit, did not amount to a “lot of money”.