Since October 2022, Rishi Sunak, a British politician born on May 12, has held the positions of Prime Minister of the United Kingdom & Leader of the Conservative Party. He served as Chief Secretary to the Treasury from 2019 to 2020 and Chancellor of the Exchequer from 2020 to 2022. He has served as Richmond (YorksMember )’s of Parliament (M.P.) since 2015.
Sunak was born in Southampton to Indian immigrants who came to the country in the 1960s from East Africa. He attended Winchester College for his undergraduate studies, Lincoln College in Oxford for his philosophy, politics, and economics (PPE) degree, and Stanford University in California for his MBA as a Fulbright Scholar.
He met his future wife, Akshata Murty, at Stanford, the daughter of N. R. Narayana Murthy, the booming Indian businessman and founder of Infosys. With a combined wealth of £730 million as of 2022, Sunak and Murty rank as the 222nd and 243rd wealthiest individuals in Britain, respectively. After earning his degree, Sunak worked for Goldman Sachs before becoming a partner at the Children’s Investment Fund Management and Theleme Partners, two hedge fund companies.
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Sunak succeeded William Hague as the representative for Richmond in North Yorkshire in the House of Commons after the general election of 2015. Sunak voted to leave the E.U. in the 2016 referendum. In the 2018 cabinet shake-up, he was chosen to serve as the Parliamentary Under-Secretary of State for Local Government in Theresa May’s second administration.
He cast three yes votes for May’s Brexit withdrawal deal. Sunak backed Boris Johnson’s bid to lead the Conservative Party after May’s resignation. Sunak was named Chief Secretary to the Treasury by Johnson after he was elected and given the position of Prime Minister. Following Sajid Javid’s departure during the February 2020 cabinet change, Sunak took over as Chancellor of the Exchequer.
As Chancellor, Sunak played a significant role in the financial reaction of the government to the COVID-19 epidemic and its effects on the economy, including the Coronavirus Job Retention and Eat Out to Help Out programs. On July 5, 2022, he left his position as chancellor. Johnson then left her position amid a political crisis. Sunak ran to succeed Johnson, but Liz Truss won the members’ vote in the Conservative Party’s leadership contest.
Sunak was chosen without opposition to lead the Conservative Party after Truss resigned amid yet another government crisis. On October 25, 2022, Charles III nominated him as prime minister, making him the first prime minister from an ethnic minority and the first British Asian and Hindu.
How Tall Is Rishi Sunak?
According to reports, Rishi is 170 centimeters tall, or five feet, six inches.
What is Rishi Sunak’s Net Worth?
British politician Rishi Sunak has an estimated net worth of $800 million. As of this writing, Rishi Sunak is the front-runner to succeed Liz Truss as prime minister of the United Kingdom, who resigned after only 44 days in office. Rishi, a Conservative Party member, held the positions of Chancellor of the Exchequer from 2020 to 2022 and Chief Secretary to the Treasury from 2019 to 2020.
Sunak and Truss were the two remaining candidates to succeed Boris Johnson when he resigned in July 2022 under a slew of scandals and resignations. In the end, a vote among Conservative Party members chose Truss. As we’ll see in the following sections, most of Rishi’s fortune comes from his wife, Akshata Murty, the daughter of Indian business magnate N.R. Narayana Murthy.
Rishi Sunak Infosys Family Wealth
In actuality, Rishi Sunak’s wife, British-Indian heiress Akshata Murty, is responsible for the vast majority of his $800 million net fortune. The pair is now among the 200 wealthiest individuals in the U.K., thanks to their fortune.
N.R. Narayana Murthy, an Indian multibillionaire, has two children, Akshata being one of them. As the founder of Infosys, India’s second-largest I.T. company, N.R. amassed his $4.6 billion fortune. The publicly listed Infosys (NYSE: “INFY”) has a market valuation close to $80 billion, $16 billion in annual revenue, and $4 billion in profits.
N.R. Murthy is now ranked as the 15th richest person in India.
Financial documents show that Akshata Murty owns 0.93% of Infosys and received over $14 million in dividends from the family business in 2021.
Is Rishi Sunak a Billionaire?
Due to his wife’s wealth, Rishi Sunak has recently been considered a billionaire. However, there is a catch: If you are referring to being a billionaire in British pounds, Rishi has never been one. However, if you’re talking about U.S. dollars, the couple’s fortune had fluctuated in value over the past several years, especially between the very end of 2021 and the start of 2022, when it was comparable to just under $1 billion.
The market capitalization of Infosys was $110 billion in March 2022 (as opposed to the present $77 billion). Akshata’s 0.93% ownership was worth almost exactly $1 billion.
The couple’s technical billionaire status has also been impacted by the volatility in the value of the British Pound relative to the U.S. Dollar. Rishi and Akshata were listed as the 222nd wealthiest persons in the U.K. by the Sunday Times Rich List in early 2022, with an estimated 730 million pounds. At that time, there was a 1.35 to 1 pound-to-dollar ratio.
Seven hundred thirty million pounds were equivalent to $985 million then. Their U.S. dollar equal wealth was worth $788 million in September 2022, when the Pound’s value dropped from 1.08 to 1. At the same time, Infosys’s market cap decreased from $110 billion to $77 billion, further lowering the couple’s paper net worth.
Rishi and Akshata’s combined net wealth puts them $200 million ahead of King Charles, even at “only” $800 million.
Rishi Sunak Hedge Funds
The family riches of Akshata Murty are not the only source of money for the couple. From 2001 to 2004, Rishi was employed at Goldman Sachs. Subsequently, he worked for a hedge fund called Children’s Investment Fund Management. In 2000, he withdrew from that fund and relocated to California, where he founded Theleme Partners with a few associates. In October 2010, Theleme Partners began operations. The company has $700 million in assets upon debut.
And lastly, Rishi worked as a director for Catamaran Ventures, his father-in-law’s family office investment vehicle, from 2013 to 2015.
Rishi Sunak Personal Life
Akshata Murty and Rishi Sunak became friends while both students at Standard. They got hitched in 2009, and now they have two daughters.