Rishi Sunak’s $800 million net worth: The secrets to his wealth.
What is Rishi Sunak’s net worth?
Rishi Sunak is a prominent British politician with an estimated net worth of $800 million. At the time of writing, he is positioning himself as the leading candidate to succeed Liz Truss as Prime Minister of the United Kingdom, following Truss’ resignation after a brief tenure of just 44 days. A member of the Conservative Party, Sunak served as Chief Secretary to the Treasury from 2019 to 2020, then as Chancellor of the Exchequer from 2020 to 2022.
He and Truss were the latest contenders to replace Boris Johnson, who resigned in July 2022 amid numerous scandals and resignations. Ultimately, Truss was chosen in a final vote of Conservative Party members. As will be explained in the following sections of this article, a significant portion of Rishi Sunak’s wealth comes from his wife, Akshata Murty, daughter of Indian billionaire NR Narayana Murthy.
Family wealth Infosys
The vast majority of Rishi Sunak’s net worth, estimated at $800 million, is primarily tied to his wife, Akshata Murty, an Anglo-Indian heiress. This wealth places the couple among the 200 richest people in the United Kingdom.
Akshata is one of two descendants of Indian billionaire NR Narayana Murthy, who amassed a $4.6 billion fortune as the founder of Infosys, India’s second-largest information technology company. Infosys, which is publicly traded (NYSE: “INFY”), generates annual revenues of $16 billion and profits of $4 billion, with a market capitalization close to $80 billion.
According to the latest information available, NR Murthy ranks as the 15th richest person in India.
Financial disclosures indicate that Akshata Murty holds a direct stake of 0.93% in Infosys and received approximately $14 million in dividends from the family business in 2021.
Is Rishi Sunak a billionaire?
Rishi Sunak has recently been considered a billionaire, mainly due to his wife’s wealth. However, it is important to clarify that when considering billionaire status in sterling terms, Rishi never reached that threshold. Conversely, evaluated in US dollars, the couple’s wealth has indeed approached the billion dollars on several occasions, notably at the end of 2021 and the beginning of 2022.
As of March 2022, Infosys had a market capitalization of $110 billion, while its current valuation is $77 billion. At that point, Akshata’s 0.93% stake was valued at nearly $1 billion.
Additionally, fluctuations in the exchange rate between the British pound and the US dollar have influenced perceptions of the couple’s billionaire status. According to the Sunday Times Rich List from early 2022, Rishi and Akshata were ranked as the 222nd richest individuals in the UK, with their fortune estimated at £730 million. At that time, the exchange rate was 1.35 to 1, making their wealth equivalent to approximately $985 million.
However, as the British pound depreciated by as much as 1.08 to 1 in September 2022, their net worth in US dollars fell to $788 million. Additionally, during the same period, Infosys’ market capitalization fell from $110 billion to $77 billion, further diminishing the couple’s paper net worth.
Nonetheless, even with a net worth of “only” $800 million, Rishi and Akshata are still $200 million richer than King Charles.
Hedge funds
The wealth of Akshata Murty’s family is not the only contributing factor to the couple’s financial situation. Rishi Sunak worked at Goldman Sachs from 2001 to 2004, after which he joined a hedge fund known as Children’s Investment Fund Management. He left that fund in 2006 and moved to California, where he and several associates started their own company, Theleme Partners, which began operations in October 2010 with initial capital of $700 million.
Additionally, from 2013 to 2015, Rishi served as director of his father-in-law’s family office investment fund, Catamaran Ventures.
Personal life
Rishi Sunak and Akshata Murty first crossed paths while pursuing their studies at Stanford University. They married in 2009 and are the parents of two daughters.
Real estate
The couple owns real estate assets estimated at $20 million worldwide.
Their main residence is a five-bedroom mansion in Kensington, west London, valued at around $10 million.
On weekends, they escape to an estate known as Kirby Sigston Manor, located in North Yorkshire, England. This Grade II National Heritage mansion, which dates back to 1826, was acquired by the family in 2015 for £1.5 million. Following the purchase, they invested a further £400,000 to transform parts of the estate into a wellness retreat, complete with a modern swimming pool, spa and gym. They are reported to spend about $20,000 a year just to maintain the heater for the pool, which measures 50 feet by 16 feet.
In California, where Rishi spent several years running a hedge fund, the couple also own a $7 million penthouse in the coastal community of Santa Monica.
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Rishi Sunak’s journey from hedge fund manager to high-profile politician has been marked by impressive financial success. While his wealth comes primarily from his wife Akshata Murty’s inheritance from her father, Indian billionaire NR Narayana Murthy, Sunak’s career, personal life and investments reflect a strategic approach to wealth accumulation.
Whether or not he will achieve billionaire status in the future remains to be seen, but with his diverse portfolio of assets, including real estate and investments, Sunak’s financial future appears assured. As his political career progresses, it will be interesting to observe how his wealth continues to grow.