Chris Hohn, Britain’s biggest philanthropist, has stopped donating the annual profits from his hedge fund to the Children’s Investment Fund Foundation, which is run by his ex-wife.

Hohn set up hedge fund the Children’s Investment Fund (TCI) in 2003 and the majority of the annual profits had gone to the Children's Investment Fund Foundation (Ciff), which is chaired by his ex-wife Jamie Cooper Hohn. But this year 20 staff at the hedge fund received a share of the £26m profit, instead of the charity.

After the couple decided to divorce last year, the Telegraph reported that ties between TCI and Ciff were unwound so that TCI was no longer legally obliged to give its profits to the charity.

The charity’s latest set of accounts show that for the year-end August 2013 the charity received $149.7m from investment income and $785,000 from voluntary income sources. In 2012 is voluntary income had been almost $28m and income from investments stood at $128m.

Ciff has assets of around $3.05bn (£2.08bn) and is currently ranked 66 in the Charity 100 Index, which ranks charities based on a rolling three-year average of their income.

TCI’s accounts show that it paid £14.3m to one of the charity’s subsidiaries - CIFF Trading Limited.

Between 2006 and 2011 Hohn gave away £1bn, including £466m to Ciff in 2008, making him Britain’s biggest major donor.