Rishi Sunak has succeeded in his bid for the top political job, and will be the country’s first Hindu prime minister.
According to groups, Sunak’s appointment as Conservative Party leader is a "historic moment" that demonstrates the highest position “can be open to those of all faiths and ethnic backgrounds”.
Sunak is a practising Hindu who takes his Commons oath on the Bhagavad Gita, an ancient Sanskrit text.
He was born in Southampton in 1980 to Punjabi parents. His grandparents were born in India and immigrated to the United Kingdom in the 1960s from East Africa.
But from humble beginnings, Sunak has amassed a fortune of wealth over his career, and stands to be one of the richest Prime Minister’s to ever hold the office.
Here is everything you need to know about him.
What is Rishi Sunak’s net worth?
Rishi Sunak is widely regarded as one of, if not the, wealthiest MP in the House of Commons. While specific details about his personal wealth have not been made public, according to the 2017 Sunday Times Rich List, he has a shared fortune with his wife worth £730 million.
Sunak worked as a banker at Goldman Sachs before transitioning into hedge fund management and founding Theleme Partners in 2010.
Following his appointment as Chief Secretary to the Treasury in July 2019, his investments were placed in a blind trust. Blind trusts are intended to conceal the source of the money gained from investments, allowing investors to avoid conflicts of interest.
Opposition parties have frequently demanded that the contents of the blind trust be made public.
In August 2022, the year’s wealthiest British citizens were revealed inThe Sunday Times Rich List 2022., which placed Sunak on a listalongside some notable sanctioned Russian oligarchs.
Sunak and his wife ranked for the first time on the list at number 222 with a combined wealth of £750m.
How rich is Sunak’s wife?
Akshata Murty, Sunak’s wife, is extremely wealthy in her own right. She is the daughter of NR Narayana Murthy, the billionaire Indian IT mogul who founded Infosys in the 1980s.
Murty owns 0.91% of the company, which is valued at between £400 million and £500 million. She received £11.6 million in dividend income last year from her share.
She is listed as having shares in at least six other UK companies, including luxury gentlemen’s outfitters New & Lingwood, the UK company that operates Jamie’s Italian in India, nanny agency Koru Kids, and gym chain Digme Fitness, which she is also a director of.
Earlier this year, controversy erupted when it was revealed Murty is a non-domiciled (non-dom) UK resident, and not required by law to pay UK taxes on her overseas income. The BBC estimated this would have saved her £2.1 million a year in UK tax.
She and her husband have four homes, including a £7 million five-bedroom property in Kensington, a £1.5 million mansion in his North Yorkshire constituency, and a Santa Monica penthouse in California with an estimated value of £5.5 million.