Politics

Rishi Sunak personal wealth: How rich is Chancellor?

CHANCELLOR RISHI SUNAK outlined his roadmap to getting the British economy back on track on Wednesday, but how wealthy is Mr Sunak?

The Chancellor of the Exchequer Rishi Sunak unveiled a raft of measures designed to tackle rising unemployment levels and encourage public spending to boost the economy on Wednesday. Speaking to the House of Commons, the Chancellor revealed measures in his summer update involving emergency measures to get the economy moving. But exactly how well off is Mr Sunak?

Chancellor Rishi Sunak has told MPs in his economic update: “People need to know that we will do all we can to give everyone the opportunity of good and secure work.”

He warned of hard times ahead, but also said “no-one will be left without hope.”

Mr Sunak said: “People need to know that we will do all we can to give everyone the opportunity of good and secure work.”

The Chancellor announced a raft of new measures designed to help workers and businesses across Britain including the new “Kickstarters” programme.

How rich is the Chancellor of the Exchequer Rishi Sunak?

The current Chancellor has been dubbed the “Maharaja of the Dales”, and is thought to be the richest person in the House of Commons, but how wealthy is he?

Mr Sunak began his career with the investment bank Goldman Sachs.

He then progressed to working in the hedge fund sector and eventually launched his own firm called Theleme Partners in 2010.

His firm had an initial fund of £557m ($700m).

In his role as Chancellor, Mr Sunak’s salary is £71,090, which excludes his salary as an MP which is £79,468.

In 2015 he stood for election in Richmond, North Yorks, after the constituencys previous MP, former Tory leader William Hague, retired.

Mr Sunak is married to Akshata Murthy, the daughter of Indian billionaire and consultancy firm Infosys, N. R. Narayanan Murthy, who is worth an estimated $2.5bn (£1.99bn) according to Forbes.

The couple met while studying at Stanford University and they now have two daughters together.

The couple were married in 2009 in a two-day wedding in Bangalore.

Together, they own an impressive international property portfolio including a five-bedroom now in London and a Georgian mansion.

In total, the Sunak couple is thought to own property worth more than £10m.

The Chancellor was also a director of Catamaran Ventures, owned by his father-in-law.

His wife used to work in finance, but now runs her own fashion label called Akshata Designs.

Akshata’s shares in her father’s company are thought to be worth around £185m.

According to the Sun, Mr Sunak is thought to be the richest sitting MP.

The publication estimates his net worth to be around £200m.

In the past Mr Sunak has said he has a strong work ethic.

Mr Sunak said: “I grew up watching my parents work hard and serve our local community with dedication.

“My dad is an NHS family GP and my mum ran her own small business, the local chemist shop.

“Small companies are the lifeblood of our economy. They employ more people than large companies and are responsible for 85 per cent of recent job creation.”

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