A British politician with Indian ancestry named Rishi Sunak has a net worth of £200 million. Sunak, a former hedge fund manager and the Chancellor of the Exchequer since February 2020, is thought to be the longest-serving MP with the highest net worth.
He is a member of the Conservative Party and served as the Treasury’s Chief Secretary from 2019 to 2020. As a Member of Parliament, he has served Richmond in North Yorkshire since 2015.
Early Years
Sunak was born in Southampton on May 12, 1980, to a British mother, Usha, a pharmacist who ran a local pharmacy, and an Indian father, Yashvir, a physician.
Usha was born in Tanganyika, although Yashvir’s father was a colony and protectorate of Kenyan (which later became part of Tanzania). His grandparents left East Africa in the 1960s and immigrated to the UK with their children.
During his teenage summer breaks, Sunak worked as a waiter in a curry restaurant in Southampton. At Lincoln College in Oxford, where he studied politics, philosophy, and economics, he earned a first.
Throughout his time at the university, he was an intern at the Conservative Campaign Office. In 2006, while enrolled as a Fulbright fellow, he received an MBA from Stanford University.
What is Rishi Sunak’s Net worth?
The combined wealth of Rishi Sunak and his wife Akshata Murty was evaluated at £730 million this year by the Sunday Times Rich List. The pair has four residences, with two in London, one in Yorkshire, and one in Los Angeles, totaling an estimated £15 million.
Five bedrooms, four bathrooms, two reception rooms, and a private garden are all located in their four-story Kensington mews property, which is estimated to be worth £7 million on its own. Supposedly used as a location for relatives to stay, the other London home is situated on Old Brompton Road.
The Yorkshire home is a Grade-II listed Georgian mansion with 12 acres of land and a beautiful lake. Sunak’s family received permission to create a tennis court, swimming pool, and gym next to the ancient North Yorkshire house in 2021.
The condo in California where the pair first met while attending Stanford University is reputedly worth £5.5 million and has views of the Baywatch beach.
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Business Career
Sunak served as a Goldman Sachs analyst from 2001 through 2004. After that, he left and started working for The Children’s Investment Fund Management, a hedge fund management firm, where he eventually worked his way up to partner status in 2006.
At Theleme Partners, a new hedge fund that was launched in 2016 with $700 million under management, I worked there before departing in 2009 to take care of former colleagues. He also served as a director for Catamaran Ventures, his father-in-investing law’s company.
Career
He joined the Conservative Party in 2014, and in 2015 he won the Richmond (Yorks) seat that had previously been held by Lord William Hague, a former Tory leader. Mr. Sunak also won reelection in 2017. He won with more than 27,000 votes at the time due to his strong level of support in his district.
The Chancellor of the Exchequer, George Sunak, supported both Theresa May’s Brexit withdrawal agreement and Boris Johnson’s bid for the Tory leadership.
He took over as Chancellor in 2020 after Sajid Javid left and has retained the role since then.
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His announcement of the furlough scheme, the Job Retention Scheme, and the Eat Out To Help Out scheme—decisions that have contributed significantly to the government’s response to the economic impact of the COVID-19 pandemic in the UK—may be his most notable actions since taking office as Chancellor in 2020.
In order to impose a global minimum tax on multinational corporations and internet technology companies, a tax reform agreement was reached in 2017 during the G7 summit in London, which was hosted by Sunak. A deal was reached for the OECD to join the proposed tax overhaul in 2021.
The third budget from Sunak was submitted in 2021. Significant investment promises were made, with a large portion going toward science and education. He reduced the price of fuel, got rid of the VAT on energy-saving equipment, and cut back on national insurance contributions for small businesses.
The amount of taxes would be the highest they have been since the 1940s. Additionally, Sunak provided some aid that most influential individuals felt insufficient to help those in need manage rising living expenses.
Rishi Sunak’s Wife
The Sunaks have been wed for more than ten years.
While attending Stanford University, Rishi Sunak met Akshata Murthy, his wife.
The pair wed in 2009 in Bangalore, a city in southern India, where Akshata is from, making their marriage now almost 13 years old.
At Catamaran Ventures, Rishi does business with Akshata’s well-known father, Indian billionaire N.R. Narayana Murthy.
Murthy is one of India’s wealthiest individuals and the co-founder of the IT business Infosys.
His enormous net worth, according to Forbes, is $4.3 billion, or £3.1 billion.
The mother of Akshata, Sudha Murthy, has been wed to N.R. since 1978. Rohan, another sibling, is a junior fellow at Massachusetts’ Harvard University.
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Husband Akshata used to work in marketing and finance, but she later switched to fashion design and now owns her own line, Akshata Designs.
When Akshata’s (legal) non-domicile tax status was made public earlier this year, there was uproar.
Where resides Rishi Sunak?
A flat in Central London and a house in Santa Monica, California are among the four properties that Rishi and his wife are said to own.
They reportedly split their time between their home in the village of Kirby Sigston, close to Northallerton in North Yorkshire, and Kensington, West London, where they reside most of the time.
Since 2015, Rishi has served as the MP for Richmond (Yorks), which is close to where his constituency is located.
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