Rishi Sunak net worth:£730 million
|Net Worth:||£730 million|
|Age:||42 Years (12 May 1980)|
|Spouse(s)||Akshata Murty (m. 2009)|
In 2022, the Sunday Times Rich list valued the joint fortune of Rishi Sunak and his wife Akshata Murty at £730 million.
Rishi Sunak is a famous British politician who served as Chancellor of the Exchequer from 2020 to 2022. Rishi served as Chief Secretary to the Treasury from 2019 to 2020.
RISHI SUNAK Net Worth 2022:
Rishi Sunak and his wife Akshata Murty combined net worth is valued at £730 million. Sunak and his wife ranked 222 in the Sunday Times Rich List of the UK’s wealthiest 250 people.
Rishi Sunak House & Real Estate:
The couple are the owners of four homes worth an estimated £15m: two in London, one in Yorkshire and one in LA.
The couple’s Kensington new home, which is estimated to be worth £7m alone, has five bedrooms, four bathrooms and two reception rooms spread across four storeys, a private garden.
The other London property is located on Old Brompton Road and is said be used as a place for relatives to stay.
The house in Yorkshire is a Grade-II listed Georgian mansion, set across 12 acres and includes an ornamental lake. In 2021, Sunak’s family were given planning permission to build a swimming pool, gym and tennis court beside the historic North Yorkshire home.
Finally, the penthouse in California – where the couple met while studying at Stanford University – is reportedly worth £5.5m and overlooks the beach where Baywatch was filmed.
How did Rishi Sunak make his money?
The BBC reported that Rishi Sunak’s salary when he was Chancellor was £151,649, and he is believed to be the richest man in the House of Commons. If Sunak wins the leadership contest – for which the TV debates are about to take place – he will be earning even more.
Before entering politics, Sunak was a partner at two highly-profitable hedge funds and from 2001 to 2004 he was an analyst for the investment bank, Goldman Sachs. As per The Times, Sunak was a multi-millionaire in his mid-twenties.
In April this year, Sunak came under pressure from the Labour Party to respond to claims that he was listed as a beneficiary of offshore trusts in the British Virgin isles and the Cayman Islands. However, a Treasury source said Mr Sunak, his wife and her family were not aware of any trusts naming the Chancellor as a beneficiary.
Sunak’s father-in-law, Narayana Murthy, is one of the richest men in India. Mr Murthy co-founded Infosys after his daughter was born, and the success of the IT services company propelled him onto India’s rich-list.
Narayana Murthy stepped down as chairman in 2011, but continues to hold a minority stake in the company. The BBC reported that the company had revenues of more than $11.8bn in 2019, $12.8bn in 2020, and $13.5bn in 2021. An estimate by Forbes puts Mr Murthy’s net worth at $3.5bn.
As a result, the vast majority of Sunak’s family wealth comes from his wife, Akshata Murty, who is an heiress to a fortune worth billions and having a stake in her father’s company, owns a fashion label called Akshata Designs. Akshata is also director of a venture capital firm and is said to be richer than the Queen.
Akshata Murthy landed her husband in hot water earlier in 2022, when it was revealed she had been claiming non-dom status in the UK, allowing Akshata to save an estimated £20m in taxes. However, she has since said Akshata Murthy will start paying UK tax.
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Rishi Sunak Biography:
|Born||12 May 1980 (age 42)|
|Spouse(s)||Akshata Murty (m. 2009)|
|Relatives||N. R. Narayana Murthy (father-in-law)Sudha Murty (mother-in-law)|
|Alma mater||Lincoln College, Oxford (BA)Stanford University (MBA)|
Sunak was born on 12 May 1980 in Southampton to Indian parents Yashvir and Usha Sunak. He is the eldest of three siblings.
His father Yashvir was born and raised in the Colony and Protectorate of Kenya (present-day Kenya), while his mother Usha was born in Tanganyika. Yashvir was a general practitioner, and Usha was a pharmacist who ran a local pharmacy. His grandparents moved to UK from Punjab in 1960s.
Sunak attended Stroud School, a preparatory school in Romsey, Hampshire, and Winchester College, a boys’ independent boarding school, where he was head boy and the editor of the school paper.
Sunak waited tables at a curry house in Southampton during his summer holidays. Sunak read Philosophy, Politics and Economics (PPE) at Lincoln College, Oxford, graduating with a first in 2001.
In 2006, he gained an MBA from Stanford University, where he was a Fulbright scholar.
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Rishi Sunak Business career:
Rishi Sunak worked as an analyst for the investment bank Goldman Sachs between 2001 and 2004. Rishi then worked for the hedge fund management firm The Children’s Investment Fund Management, becoming a partner in September 2006.
Rishi Sunak left in November 2009 in order to join former colleagues at a new hedge fund firm, Theleme Partners, which launched in October 2010 with $700 million under management. Rishi Sunak was also a director of the investment firm Catamaran Ventures, owned by his father-in-law, Indian businessman N. R. Narayana Murthy.
Rishi Sunak political career:
Rishi Sunak was selected as the Conservative candidate for Richmond (Yorks) in October 2014. Sunak was head of the Black and Minority Ethnic (BME) Research Unit of centre-right think tank Policy Exchange, for which he co-wrote a report on BME communities in the UK. Rishi was elected as MP for the constituency at the 2015 general election with a majority of 19,550.
During the 2015–2017 parliament he was a member of the Environment, Food and Rural Affairs Select Committee.
Sunak was re-elected at the 2017 general election, with an increased majority of 23,108.
Rishi was appointed as Chief Secretary to the Treasury by Prime Minister Boris Johnson on 24 July 2019, serving under Chancellor Sajid Javid. He became a member of the Privy Council the next day.
Sunak was re-elected in the 2019 general election with an increased majority of 27,210.
Sunak was promoted to Chancellor on 13 February 2020 as part of a cabinet reshuffle, after the resignation of his predecessor, Javid, on the same day.
Rishi Sunak first budget took place on 11 March 2020.This included an announcement of £30 billion of additional spending, of which £12 billion was allocated for mitigation of the economic effects of the COVID-19 pandemic.
Sunak was part of a committee of Cabinet ministers (also comprising Johnson, Matt Hancock, and Michael Gove) that made decisions on the pandemic.
On 5 July 2022, Rishi Sunak resigned as chancellor moments after Sajid Javid resigned as health secretary amid a controversy surrounding the sexual harassment allegations against Chris Pincher MP. After further resignations, Johnson announced his intention to resign as leader of the party on 7 July.
On 8 July 2022, Rishi Sunak announced that he would stand as a candidate in the Conservative party leadership election to replace Johnson.
Rishi Sunak Wife, Childrens:
Sunak married Akshata Murty, the daughter of the Indian billionaire N. R. Narayana Murthy, the founder of Infosys, in August 2009. Akshata owns a 0.91% stake in Infosys, which is valued at about $900m (£690m), as of April 2022, making her one of the wealthiest women in Britain.
Sunak and Akshata met while studying at Stanford University; they have two daughters. Akshata is a director of her father’s investment firm, Catamaran Ventures.
Rishi Sunak Interesting facts:
- Rishi Sunak’s brother Sanjay is a psychologist.
- Rishi sister Raakhi is the Chief of Strategy and Planning at Education Cannot Wait, the United Nations’ global fund for education.
- Rishi is school friend of The Spectator’s political editor James Forsyth. Rishi Sunak was the best man at Forsyth’s wedding to the journalist Allegra Stratton, and they are godparents to each other’s children