U.K.'s New Prime Minister's Net Worth, Background and Family
- Rishi Sunak, United Kingdom's newest Prime Minister, made history as the country's first leader of colour
- Sunak's wealth is said to come mostly from his wife, whose father owns an I.T. company
- The combined wealth of the couple is said to be worth more than that of King Charles, who was installed recently
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The new British Prime Minister, Rishi Sunak, became the country's first leader of colour and its youngest recent cemeteries, assuming office at age 42.
CNBC reported that Sunak also broke a record as the richest ever to occupy N0 10, with a net worth estimated to be more than Kings Charles III.
Source: Instagram
Youngest and richest Prime Minister
Sunak succeeded Liz Truss as U.K.'s leader on Monday, October 23, 2022, U.K.'s ruling Conservative Party.
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He had worked at Goldman Sachs as an analyst and a hedge fund manager before becoming a politician in 2015.
But most of his fortune comes from his wife, Ashata Murty, the daughter of a tech billionaire whose father, N.R. Narayana, founder of the Indian I.T. firm Infosys.
$844 million net worth
Sunak and his wife, Ashata, have a combined wealth of 844 million, according to reports.
Most of Ashata's wealth comes from her 0.93 per cent share in Infosys, which has a market capitalization of around $75 billion.
She also owns Catamaran Ventures U.K., the British subsidiary of her father's venture capital and private equity firm, which shares a portfolio of firms, including a luxury furniture brand co-owned by Rupert Murdoch's eldest daughter.
Sunak and his wife met while studying their MBAs at Standford University and reportedly owns about four properties worth about 18.3 million pounds in California.
Before becoming the Prime Minister, their main residence was a five-bedroom house in Kensington, London, worth about 6.6 million pounds. They spend weekends at a Grade II-listed retreat in Yorkshire.
Richer than King Charles?
The couple's total fortune is far above that of the U.K.'s first richest-ever Prime Minister, Edward Stanley, who was elected in 1852 and had a net worth of 440 million in today's money.
Their wealth is also more than twice that of King Charles III and Queen Consort, estimated at 370 million pounds.
According to reports, it does not include the value of the wider crown estate, which is different portfolio of buildings, artworks, forests and fields estimated to be in billions of pounds, owned personally by the King but held by the monarch only for the time of their reign.
Sunak's election as Prime Minister is the first time the residents of Downing Street have been richer than the residents of Buckingham Palace.
Criticisms trails wife's status
His election comes at a time when millions in Britain are facing the cost of living crisis, which raises questions over the new Prime Minister's ability to grasp the experience of ordinary Britons.
Sunak's wife was criticized earlier this year by the former finance minister over her non-domiciled status, which excludes her from tax payments on her earnings outside the U.K.
The non-resident status saves the family about 20 million pounds in U.K. taxes.
Ashata later promised to give the status and start paying taxes on her full income.
King Charles III and the royal family's new net worth after Queen Elizabeth II's death
Legit.ng reported that Queen Elizabeth died and left more than $500 million in personal fortune to her son, King Charles II, and the rest of the royal family.
Before Charles became the new monarch, his net worth was around $440 million, an estimate by the research institute Wealth X says.
Fortune reports that King Charles III's Wealth will now be inherited by his son, Prince William. Charles has made hundreds of millions of pounds since he was 21 years and in the 2021-2022 financial year, he got 23 million pounds in surplus payments, an annual account by Duchy says.
Source: Legit.ng
