Rishi Sunak and his wife Akshata Murthy have a combined net worth of £730 million ($800 million).
Dan Kitwood | Getty Images News | Getty Images
LONDON – Britain’s new prime minister, Rishi Sunak, has made history at just 42 years old as the country’s first leader of color and the youngest in centuries.
He also broke the record for being the richest Downing Street resident – surpassing King Charles III.
Sunak, who succeeded Liz Truss as leader of Britain’s ruling Conservative Party on Monday, worked as a Goldman Sachs analyst and then a hedge fund manager before becoming a politician eight years ago.
But he owes most of his wealth to his wife Akshata Murthy, whose father, N.R. Narayana Murthy – a different spelling of his last name – founded the Indian IT company Infosys.
Net worth is $844 million
The couple’s combined fortune is £730 million ($844 million). Sunday Times Rich List.
Most of Murthy’s wealth comes from his 0.93% stake in Infosys – which currently has a market value of around $75 billion. However, Murty also has private equity holdings in Catamaran Ventures UK, the British arm of his father’s venture capital firm, and a portfolio of companies including a luxury furniture brand owned by Rupert Murdoch’s eldest daughter.
Catamaran Ventures did not respond to CNBC’s request for comment.
The couple, who met while studying MBAs at Stanford University, are reported to own at least four properties, including a flat in California, worth an estimated £18.3m.
Before entering Downing Street, their main residence was a five-bedroom house in Kensington, London, worth around £6.6 million, and they spent weekends at a Grade II-listed holiday home in Yorkshire, The Guardian reported.
Richer than the king?
Sunak and his wife have a personal fortune far greater than that of Britain’s richest former prime minister, Edward Stanley, who was elected in 1852 and has a net worth of nearly $440 million in today’s money. Guinness Book of Records.
This is more than double the fortune of King Charles III and his Queen, which is estimated at around £370 million.
This price does not take into account the multi-billion pound portfolio of buildings, works of art, woodlands and grounds – which are only owned during the monarch’s reign, rather than in private ownership by the king.
King Charles III welcomed Rishi Sunak during an audience at Buckingham Palace in London, where he invited the newly elected leader of the Conservative Party to become Prime Minister and form a new government. Drawing date: Tuesday, October 25, 2022.
Aaron Chown | via Reuters
Sunak’s appointment as Prime Minister is believed to be the first time Downing Street residents have become richer than Buckingham Palace residents.
It comes at a time when millions in Britain are facing a cost of living crisis, raising questions about multi-millionaire Sunak’s ability to understand the experiences of ordinary Britons.
Indeed, the former finance minister came under fire earlier this year over his wife’s ‘non-resident’ status, which he refused to pay tax on his income outside the UK. This gap is believed to save a family £20, even though it is legal. million UK taxes.
Murthy later promised to give up gets that status and starts paying taxes on his full income. At the time of writing, Downing Street had not responded to CNBC’s request to confirm whether it had done so.
Correction: Rishi Sunak worked as an analyst at Goldman Sachs. An earlier version misrepresented his position.