A hedge fund investor made up to £3million from financing the Tower of London poppy display.
Businessman Ben Whitfield was said to have nearly 'doubled his money' after helping artist Paul Cummins put together the poignant war memorial, reports the Sunday Times.
The display of 888, 246 ceramic poppies represented each of the British and Commonwealth dead who fought during the First World War and attracted millions of visitors when it was installed in July 2014.
A hedge fund investor made up to £3million from financing the Tower of London poppy display (pictured)
Each of the poppies were sold to the public for £25 each with a reported £23million raised from the project.
Originally organisers said that £15million was raised for armed forces charities, but according to documents the sum was actually £9.5million.
Records show that almost 60 per cent of the money raised from the poppies was taken in costs or profits.
The memorial, named Blood Swept Lands and Seas of Red, was an incredible sight - filling the moat of the tower after spilling out of the outer wall.
The public and tourists were touched by the scale and the sentiment of the installation with around 5million people coming to pay their respects.
It is not known exactly how much money Mr Whitfield first loaned out for the project - but it is believed he was paid between £2-£3million.
Artist Paul Cummins (pictured) created the installation which featured 888,246 ceramic poppies in the moat of the Tower of London
Regarding Mr Whitfield's investment, a spokeswoman for artist Mr Cummins said: 'To set up the project, the artist entered into a commercial loan through a reputable brokerage firm, in line with what would be expected from any high risk, large-scale project, the likes of which had never been seen or attempted before.
'This was very significantly below the amount raised for charities. The project would never have been possible without the financial backing of the artist’s investor.'
The spokeswoman also took issue with the claim organisers predicted there would be £15million raised for charity by the sale of poppies.
She said: 'Historic Royal Palaces and Paul Cummins Ceramics estimated net profits of up to £9.8m in the documents setting up the Community Interest Company filed at Companies House in July 2014, this is publicly available.
'The project achieved £9.5m, a great success and all sums received were fully accounted for.'
Mr Cummins told MailOnline: 'Blood Swept Lands and Seas of Red was conceived as an art installation, but also to provide a fitting national commemoration for the centenary of the First World War.
'I was delighted and surprised as to the incredible reaction and support of the public across the world, and am thankful to each and every person that made this installation a reality.
'The sale of the poppies has raised £9.5m for six service charities, an achievement I will forever be proud to have been able to contribute to.'