Rishi Sunak Net Worth – Rishi Sunak and his wife Akshata Murty recently made the Sunday Times Rich List for the first time.
The son of an Indian entrepreneur and wife of another successful entrepreneur, the Chancellor is widely regarded as the wealthiest member of Parliament.
It comes just days after the Chancellor warned that the rising cost of living will make the next few months “difficult” for families.
Mr Sunak is due to make an announcement on Thursday 26 May at 11.30am amid recent reports that the government’s energy price cap is on course to rise even further.
Mr Sunak and Ms Murty’s net worth is estimated at £730million on the Sunday Times Rich List.
Prior to entering politics, Mr. Sunak worked for Goldman Sachs in the United States.
Theleme Partners, his own hedge fund management firm, was formed in 2010 when he moved into this space.
Since taking on the post of chief secretary of the Treasury Department in July 2019, he has registered a blind trust rumored to contain multimillion-dollar assets.
With blind trusts, it is possible to earn interest on investments without knowing where the funds are actually placed. With Mr Sunak now leading the UK economy, there should be no conflicts of interest.
He came under pressure last October to reveal the details of the blind trust, including whether the money was held in offshore accounts.
Former Liberal Democrat leader Sir Ed Davey declared: “The truth about this trust is that the only people who are blind to it are the public.
Only 18 months ago the Trust was set up by the Chancellor, but the public does not know where the money is or if there is a conflict of interest.”
Public confidence in this government is at an all-time low and the chancellor must take the lead to ensure greater transparency in all of her transactions.
Mr. Sunak’s wife, whom he married in 2009, is the main source of his family’s wealth.
Rishi Sunak net worth: €11 billion (estimated)
Mr Murthy’s father, NR Narayana Murthy, is a co-founder of Indian computer giant InfoSys, making his daughter wealthier than the Queen. Her shares in the company are valued at around £430million.
As a result, her family has a £900m joint venture with Amazon in India, while Ms Murty herself owns a UK-based venture capital firm and is a director or direct shareholder in five other UK-based companies.
It’s called Catamaran Ventures UK Ltd and she uses it to store her own money.
Before becoming an MP, Mr. Sunak sold all of his company shares and transferred them to his wife.
The Conservative politician and his wife Akshata Murty are estimated to be worth £730m (€861m) by The Sunday Times. That puts the pair at number 222. Most of it stems from Murty’s stake in Indian IT giant Infosys, co-founded by her father, NR Narayana Murty.
During the “Partygate” scandal, Sunak was long considered a promising successor to Boris Johnson, who was also heavily criticized within the party. The cost of living problem, with soaring food and energy prices, has also tarnished its reputation of late, experts say, which has hurt its reputation.
In addition, legal tax evasion by his wife caused an uproar. Murty is not a British citizen who has lived abroad all his life. As a result, she has so far not paid a penny in tax on income she earned outside the UK, according to the BBC analysis. Murty made the controversial announcement that all UK income would be taxed after facing backlash.
Sri and Gopi Hinduja, the leaders of the British-Indian conglomerate Hinduja Group, are now Britain’s richest people, according to the Sunday Times. Her estimated wealth rose by £11 billion to £28.47 billion. Investor Leonard Blavatnik resigned as CEO and they took control.
They are followed by James Dyson, whose family Net Worth is estimated at £23 billion, on the list of vacuum cleaner entrepreneurs. Russian oligarch Roman Abramovich lost numerous billions of dollars, dropping to ninth place.
The richest 250 people in the UK now have assets worth £710.72 billion, up 8% year-on-year and more than all of the top 1000 in 2017.
That’s why the Sunday Times emphasized how well funded private equity funds are, which in turn increases the value of the companies they cover. The Rich List now includes 177 billionaires, six more than in 2021 and more than at any time in history.