Since February 2020, Rishi Sunak, a former hedge fund manager and British politician with an estimated net worth of £200 million, has served as the country’s Chancellor of the Exchequer. Sunak is thought to be the richest serving MP in the country. For the next two years, he served as the Treasury’s Chief Secretary. As a Member of Parliament, he has represented Richmond in North Yorkshire since 2015.
Rishi Sunak Net Worth
|42 Years Old
|12 May 1980
|Salary and Income:
Childhood and Schooling
When Sunak was born on May 12, 1980, he was the son of an Indian father and a British mother. Yashvir was a medical practitioner and Usha was a pharmacist who ran a local drugstore. When Usha was born in Tanganyika, her father Yashvir was raised in Kenya’s colony and protectorate (which later became part of Tanzania). From East Africa, his grandparents and their children relocated to the United Kingdom in 1965.
As a teenager, Sunak worked as a server at a Southampton curry establishment. The first class he took at Lincoln College in Oxford in the fields of political science, philosophy, and economics brought him great success. During his time at the university, he worked as an intern at the Conservative Campaign Headquarters. While a Fulbright Scholar at Stanford University, he completed his MBA in 2006.
A career in business.
Sunak worked as an analyst at Goldman Sachs from 2001 through 2004. While working for The Children’s Investment Fund Management, he was promoted to partner in 2006 and left in 2009 for Theleme Partners, a new hedge fund with $700 million under management, where he had previously worked as an analyst. The investment business Catamaran Ventures, which belonged to his father-in-law, also included him among its board of directors.
Career: Rishi Sunak
Former Tory leader Lord William Hague represented Richmond (Yorks) until he joined the Conservative Party in 2014. Mr. Sunak was re-elected in 2017 as well. When he ran for office in his district, he received over 27,000 votes, making him a popular choice.
Sunak, Chancellor of the Exchequer, supported Brexit divorce deal and support for Boris Johnson’s leadership bid in the Conservative Party.
Chancellor Sajid Javid stepped down in 2020, and he has been in the role since. The furlough plan, Job Retention Scheme, and Eat Out To Help Out (EOTHO) have been some of his most prominent measures since becoming Chancellor in 2020, which have helped the government’s reaction to the COVID-19 pandemic’s economic impact in the UK.
Global minimum taxes on multinationals and internet technology corporations were agreed upon during the G7 summit in London in 2017 sponsored by Sunak. An agreement has been reached for the OECD to join the tax reform plan in 2021.
2020 saw Sunak’s third budget proposal. It featured large financial pledges, much of which were committed to research and education. To help small-business owners, he trimmed national insurance payments and reduced gasoline taxes. Since the 1940s, taxes have been at their highest level. In addition, Sunak provided some financial aid to those who were struggling to keep up with the rising expense of living, which most influential people felt inadequate.
Rishi Sunak Personal Life:
His future bride is the daughter of the Indian millionaire entrepreneur who founded Infosys when he was at Stanford. Akshata met Sunak while they were both students there. Krishna and Anoushka are the couple’s two daughters. As well as running her own fashion line, Akshata, Sunak’s wife, works as a director at Catamaran Ventures, her father’s investing business. In total, she has Catamaran shares worth £430 million, making her one of the wealthiest women in the UK.
A teetotaler, Sunak swears by the Bhagavad Gita as part of his parliamentary oath every year since 2017. Both of Sunak’s siblings are professionals in the field of psychotherapy, and his sister Raakhi is a diplomat in the Foreign, Commonwealth and Development Office.
He and his wife now reside in North Yorkshire, where he served as a governor at East London Science School. They also own residences in Kensington, London, on London’s Old Brompton Road, and in Santa Monica, California.
Sunak has been scolded for his wife’s financial links to the Russian-owned IT business Infosys, which has maintained a foothold in Russia since Ukraine’s invasion. His wife, Akshata Murthy, has non-domiciled standing, which means she is immune from paying taxes on money acquired outside of India. Russian President Vladimir Putin and the Kremlin are linked to the firm.
Rishi Sunak is predicted to have a net worth of around £200 million as of 2022. Sunak is widely recognised as the wealthiest member of the House of Commons. Former banker Akshata Murty, the daughter of the Indian billionaire entrepreneur who is the founder of Infosys, was his wife prior to their marriage. At least four properties are rumoured to belong to him.
Prior to starting Theleme Partners in 2010, Sunak worked for Goldman Sachs in New York City as a hedge fund manager.
Following his appointment as Chief Secretary to the Treasury by former Chancellor Sajid Javid in 2019, he set up a multi-million pound blind trust.