Rishi Sunak: Net worth of  United Kingdom’s Prime Minister

Rishi Sunak made history in October 2022 by becoming the United Kingdom’s first Prime Minister of Indian descent. His appointment by King Charles III marked two significant milestones – he is the youngest UK Prime Minister in over 200 years since William Pitt in 1783, as well as the first person of colour, to hold the office.

With a substantial net worth estimated at $810 million, Sunak’s wealth exceeds that of the late Queen Elizabeth II. He assumed the role of Prime Minister amid pressure to address the political and economic turmoil left behind by his predecessor Liz Truss, who had taken over from Boris Johnson.

Sunak’s unprecedented ascension to the UK’s highest political office carried great expectations that he would provide steady leadership to steer the country through the challenges it faced after the turbulent tenures of his two immediate predecessors. His dual firsts as PM – being of Indian heritage and the youngest in over two centuries – made his appointment truly historic for Britain.

Political Career

Rishi Sunak’s political career began in 2015 when he was elected as the Member of Parliament for Richmond in Yorkshire. His prominence grew after he joined the Conservative Party. In 2020, he assumed the pivotal role of finance minister, a position that thrust him into the limelight as the Covid-19 pandemic was unfolding.

Sunak earned widespread praise for the economic support measures and initiatives he spearheaded during this tumultuous period to help individuals and businesses grapple with the financial fallout of the pandemic. His deft handling of the economic crisis brought on by COVID-19 while serving as finance minister raised his profile significantly within the Conservative Party ranks.

In October 2022, upon Rishi Sunak’s assuming office in Downing Street, Labour MP Nadia Whittome took to Twitter, highlighting his substantial wealth of £730,000,000 according to the 2022 rich list estimate. She juxtaposed this with the financial standing of King Charles III, suggesting that Sunak’s wealth contradicted his rhetoric on making tough decisions affecting working-class individuals. The tweet gained significant traction, amassing 25,000 retweets and 94,000 likes.

Previously, in an August 2022 interview with the New York Times, Rishi Sunak addressed his affluent position, acknowledging his fortune. He emphasized that the public should evaluate politicians based on their character and actions rather than their financial status.

Sunak’s Tax payments

In July 2023, Rishi Sunak promised to publish his tax records if he became the leader of the Conservative Party, which he eventually did in October 2022 when he became Prime Minister.

The tax documents were finally released in March 2023, revealing that between the 2019-20 and 2021-22 financial years, Sunak earned just over £1 million in income and £3.7 million in capital gains. Over these three years, he paid a total of just over £1 million in UK taxes.

Breaking it down further – in 2020/21, his earnings included £156,164 in salary, £182,186 from investments/savings, and £1.439 million in capital gains, totalling £1.777 million. In 2019/20 when he became Chancellor, his total income from various sources was £1.018 million.

Cumulatively, the documents showed Sunak earned £4.766 million across those three years while paying £1.053 million in taxes to UK authorities.

Notably, the publication of these tax records occurred just 30 minutes before the end of Boris Johnson’s questioning by the Privileges Committee investigating whether he misled Parliament over the Partygate scandal.

Sunak’s Net worth

Rishi Sunak has an immense personal fortune, with an estimated net worth of $810 million. Remarkably, his wife Akshata Murty’s wealth alone surpasses that of the late Queen Elizabeth II, whose net worth was around $350 million.

The primary source of the Sunaks’ vast wealth is Akshata’s 0.9% stake in the tech giant Infosys, the company founded by her father. In addition to this, the couple owns an impressive real estate portfolio valued at approximately $18.3 million.

Sunak himself is known to have an affinity for luxury cars, with his collection including high-end vehicles such as a Jaguar XJ L, a Land Rover Range Rover Sentinel, a Land Rover Discovery, and a Volkswagen Golf. While Sunak has had a successful career in finance and politics, it is his wife Akshata’s family wealth and stake in Infosys that accounts for the majority of the couple’s staggering $810 million net worth, making them wealthier than even the British monarchy at the time of the late Queen’s passing.