Rishi Sunak is a British politician and the country’s new Prime Minister. As of this writing, Rishi Sunak is the favorite to be the next Prime Minister of the United Kingdom. He would replace Liz Truss, who quit after only 44 days in office. Rishi is a member of the Conservative Party. From 2019 to 2020, he was Chief Secretary to the Treasury, and from 2020 to 2022, he was Chancellor of the Exchequer.
After a series of scandals and resignations forced Boris Johnson to step down in July 2022, Sunak and Truss were the last two candidates to take over. Truss was chosen in the end after a final vote by Conservative Party members. As the rest of this article explains in more detail, most of Rishi’s money comes from his wife, Akshata Murty, who is the daughter of Indian billionaire N.R. Narayana Murthy.
Wealth Of The Infosys Family
Rishi Sunak’s wife, the British-Indian heiress Akshata Murty, is responsible for most of his $800 million net worth. With this money, the couple is one of the 200 richest people in the UK.
Akshata is one of N.R. Narayana Murthy‘s two children. Murthy is an Indian billionaire who has a lot of money. N.R. made his fortune of $4.6 billion by starting Infosys, the second-largest IT company in India. Infosys (NYSE: INFY), which is traded on the stock market, makes $16 billion in sales and $4 billion in profits each year. Its market capitalization is currently close to $80 billion.
N.R. Murthy is the 15th richest person in India as of this writing. According to financial documents, Akshata Murty owns 0.93% of Infosys directly and got around $14 million in dividends from the family business in 2021.
Is Rishi Sunak A Billionaire?
Rishi Sunak has been a billionaire thanks to his wife’s wealth, but there is a catch: he has never been a billionaire in British pounds. If you’re talking about US Dollars, on the other hand, the couple’s wealth has been worth about $1 billion at different times in recent history, especially at the end of 2021 and the start of 2022.
Infosys was worth $110 billion on the market in March 2022, up from $77 billion now. At that point, Akshata’s 0.93 percent share was worth almost $1 billion.
Also, the price of the British Pound against the US Dollar has changed, which has affected the couple’s billionaire status. In early 2022, the Sunday Times Rich List said that Rishi and Akshata were the 222nd richest people in the UK, with a fortune of 730 million pounds. At that time, 1.35 pounds were equal to 1 dollar.
At that point, 730 million pounds was worth $985 million. As the value of the pound fell to as low as 1.08 to 1 in September 2022, their wealth in US dollars was worth $788 million. At the same time, Infosys’ market cap fell from $110 billion to $77 billion between January and September, which made their paper net worth even smaller. Even so, Rishi and Akshata have a combined net worth of $800 million, which is $200 million more than King Charles.
The family fortune of Akshata Murty is not the only source of money for her and her husband. Between 2001 and 2004, Rishi worked for Goldman Sachs. After that, he worked for a hedge fund called Children’s Investment Fund Management. In 2000, he quit that fund and moved to California, where he and a few friends started their own business, Theleme Partners. In October 2010, Theleme Partners opened for business. At the time the company opened, it had $700 million in assets. Also, read about Jack Antonoff
Lastly, from 2013 to 2015, Rishi was a director of Catamaran Ventures, the family office investment fund run by his father-in-law.
Rishi Sunak and Akshata Murty met at Standord, where they both went to school. In 2009, they got married, and now they have two daughters.
Newly Elected PM Of The UK To Meet King Charles III
On Monday, Rishi Sunak was chosen as the new head of the ruling Conservative Party without any opposition. He will go down in history as the country’s first prime minister of Indian descent. On Tuesday, he will meet King Charles at Buckingham Palace and deliver his first speech to the country as prime minister.
According to The Independent, which cited sources in Downing Street, the morning of Tuesday will begin with a goodbye meeting between Liz Truss and her cabinet. Later, she would formally offer her resignation to King Charles during a meeting at Buckingham Palace. Also, read about Tanya Tucker
The United Kingdom is a great country but we face a profound economic crisis.
That’s why I am standing to be Leader of the Conservative Party and your next Prime Minister.
I want to fix our economy, unite our Party and deliver for our country. pic.twitter.com/BppG9CytAK
— Rishi Sunak (@RishiSunak) October 23, 2022
Rishi Sunak will see Truss next once he has his appointment with the king. Sunak will be chosen by King Charles to serve as the nation’s next prime minister and be tasked with putting together a government. Rishi Sunak, the country’s first prime minister of Indian descent, will address the people for the first time at approximately 11:35 a.m. local time.
In six years, Sunak will be the fifth prime minister of the UK. After Liz Truss, Britain’s 56th prime minister announced her retirement on October 20, he was appointed to the position.
Rishi Sunak Net Worth
Rishi Sunak Net Worth is estimated to be around $800 Million Currently. Rishi Sunak and Akshata Murty own real estate all over the world that is worth about $20 million. The couple’s main home is a 5-bedroom mansion in the West London neighborhood of Kensington. This building is worth $10 million by itself.
They go to a place in the country called Kirby Sigston Manor on the weekends. The estate is in North Yorkshire, England, and was built in 1826. It is a grade II National Heritage manor. In 2015, the family paid 1.5 million pounds for the manor. After they bought the house, they spent an extra £400,000 to turn some of it into a wellness retreat with a modern pool, spa, and gym. People say that they spend about $20,000 a year just to heat the 50-by-16-foot pool.
Rishi ran a hedge fund in California for a few years, and he and his wife still own a $7 million penthouse apartment there. It is in the beach town of Santa Monica.
Also, read about: