Matt Hancock is the former Health Secretary of the UK who has seen his career shift dramatically in recent years, influencing his financial profile. Known for his high-profile role during the COVID-19 pandemic and his transition into media and entrepreneurship, Hancock’s net worth has become a topic of interest. Between his parliamentary salary, television appearances, and business ventures, he has built a diverse financial portfolio.
Political Career and Parliamentary Earnings
Hancock’s political career has been a significant source of income. As an MP for West Suffolk since 2010, he earned a basic annual salary of £84,144, as of 2023. While his tenure as Health Secretary ended in June 2021 following a high-profile resignation, he continued serving as an MP, maintaining his parliamentary earnings.
His role in government prior to 2021 also contributed to his financial standing. As a cabinet minister, Hancock received an additional ministerial salary on top of his basic MP pay. While these roles added to his financial stability, his political earnings alone would not explain his growing net worth in recent years.
Media Appearances and a Shift to Entertainment
In 2022, Hancock surprised many by stepping into the world of reality television. His appearance on ITV’s “I’m a Celebrity…Get Me Out of Here!” reportedly earned him £400,000, marking a significant shift in his career. Although he pledged to donate a portion of his fee to charity, the move highlighted his growing interest in media ventures.
The reality show appearance also brought public scrutiny and led to the suspension of the Conservative Party whip. However, the financial boost and public attention from the show arguably outweighed the political consequences for Hancock.
In 2023, he further expanded his presence in entertainment by appearing on Channel 4’s “Celebrity SAS: Who Dares Wins.” These appearances reinforced his pivot from politics to media, generating substantial additional income.
Business Ventures and New Opportunities
Hancock ventured into business in early 2023 by launching his own television company, Greenhazel. This move allowed him to manage his growing media activities and capitalize on his public profile. Establishing this company marked a clear shift toward entrepreneurship, signaling his intent to diversify income streams beyond politics.
While the exact earnings from Greenhazel remain undisclosed, such initiatives often attract lucrative opportunities, particularly for high-profile individuals transitioning from public service to the private sector.
Estimated Net Worth Over the Years
Hancock’s net worth has evolved significantly over the years. In 2020, his estimated net worth ranged between £705,000 and £2.1 million, primarily from his political roles and government responsibilities. By 2022, reports suggested his net worth had climbed to approximately £5 million, thanks to his reality TV earnings and emerging media projects.
The surge in his financial standing continued into 2023 and 2024, as he leveraged his growing fame and expanded his entrepreneurial efforts. His diversified income sources, including television fees, parliamentary salary, and business ventures, contributed to his estimated net worth of over £5 million by mid-2024.
Personal Life and Financial Independence
Despite controversies surrounding his career, Hancock has maintained a focus on securing financial independence. Married to Martha Hancock until their separation in 2021, he has since pursued a relationship with Gina Coladangelo, a former government adviser. While his personal life has often made headlines, it has not directly impacted his financial trajectory.
Hancock’s decision to participate in high-profile television shows and launch a business signals a clear departure from relying solely on his political career for income. This strategic shift underscores his adaptability and willingness to explore diverse opportunities.
