Lawrence Stroll has pocketed nearly £120million after selling off a chunk of his stake in Aston Martin.
The billionaire's investment vehicle Yew Tree sold 35million shares in the super-car maker last week.
This reduced his consortium's stake to 21 per cent from 28 per cent but it remains Aston Martin's largest investor.
It came as part of a deal with Chinese car maker Geely, owned by billionaire Li Shufu, to more than double its holding in the car maker to around 17.2 per cent worth £326million.
Geely acquired around 42million shares from Yew Tree while Aston non-executive director Michael de Picciotto offloaded around £7.8million worth of stock as part of the deal.
It makes Geely the third-largest shareholder in the firm behind Stroll and Saudi Arabia's Public Investment Fund, which also owns Newcastle United Football Club.
Aston Martin shares slipped 2 per cent, or 5.2p, to 259.2p.
Geely, which owns the Volvo and Lotus car brands, took a 7.6 per cent stake in Aston last year when the firm launched a £653million fundraising effort to boost the business and pay down its debts.
The recent increase has sparked speculation the Chinese conglomerate could be planning another takeover swoop on the carmaker having failed several times in the past.
Its last attempt in 2020 came unstuck when Stroll took control of the business and became its executive chairman.
Geely's chief executive Daniel Li also fuelled rumours of a bid after saying a deal could help Aston Martin boost sales in China.
The new stake gives Geely the ability to appoint a non-executive director to the board but it is barred from increasing its holding above 22 per cent until August next year.
In addition to Lotus and Volvo, the Chinese giant also controls the London Electric Vehicle Company, a maker of electric black cabs, and half of the Smart car brand alongside Mercedes-Benz.
Geely's move to increase its stake came after Aston Martin reported a 7 per cent rise in revenue to £295million for the first three months of the year while losses narrowed to £74.2million from £111.6million amid strong demand for fast and expensive cars.2023-05-30T22:27:32Z dg43tfdfdgfd