Rishi Sunak, the UK’s Prime Minister, has garnered significant wealth throughout his career in business and politics. Known for his financial acumen and impressive portfolio, Sunak’s net worth in 2024 is estimated to be $830 million.
Who is Rishi Sunak?
Rishi Sunak is a British politician and the leader of the Conservative Party. He became the Prime Minister of the United Kingdom in October 2022, making history as the first British Asian to hold this office. Before his political career, Sunak worked in investment banking and venture capital, which played a pivotal role in his financial success.
Rishi Sunak’s Biography
| Full Name | Rishi Sunak |
|---|---|
| Date of Birth | May 12, 1980 |
| Place of Birth | Southampton, England |
| Nationality | British |
| Profession | Politician, Former Investment Banker |
| Education | Oxford University, Stanford University |
| Political Party | Conservative Party |
Net Worth Breakdown
Rishi Sunak’s wealth comes from various sources, including his career in finance and his marriage to Akshata Murty, the daughter of Indian billionaire Narayana Murthy.
Sunak’s fortune is rooted in his extensive experience in finance and his stake in technology and venture capital companies. His wife Akshata Murty owns a significant share in Infosys, a multinational IT company, further boosting the couple’s combined net worth. Together, they represent one of the wealthiest political families in the UK.
| Source of Wealth | Estimated Value |
|---|---|
| Career in Investment Banking | $100 million |
| Infosys Shares (via Akshata Murty) | $700 million |
| Real Estate Investments | $30 million |
| Other Assets | $10 million |
| Total Net Worth | $830 million |
Early Life
Rishi Sunak was born to Indian-origin parents in Southampton, England. His father was a general practitioner, and his mother ran a pharmacy. Sunak’s upbringing instilled in him the value of education and hard work. He attended Winchester College before earning degrees from Oxford University and Stanford, where he met his wife.
Career
Early Career in Finance
After graduating from Oxford University with a degree in Philosophy, Politics, and Economics (PPE), Sunak began his career at Goldman Sachs, one of the world’s leading investment banks. At Goldman Sachs, he gained valuable experience in financial markets, mergers, and acquisitions, which laid the foundation for his expertise in global economics.
Following his time at Goldman Sachs, he pursued an MBA at Stanford University, where he received a Fulbright Scholarship. During his time at Stanford, he met his future wife, Akshata Murty, which also connected him to the tech world.
After completing his MBA, Sunak joined The Children’s Investment Fund Management (TCI), a hedge fund known for its philanthropic focus. Later, he worked at Thélème Partners, another hedge fund, where he played a crucial role in managing investments and identifying emerging opportunities.
Transition to Politics
Rishi Sunak’s interest in public policy and economic reform led him to enter politics. In 2015, he was elected as the Member of Parliament (MP) for Richmond, Yorkshire, succeeding former Conservative Party leader William Hague.
As an MP, Sunak quickly earned a reputation for his articulate speeches and strong understanding of fiscal policies. His early work focused on rural development and economic reforms to boost growth in underdeveloped areas.
Chancellor of the Exchequer
In February 2020, Rishi Sunak was appointed as the Chancellor of the Exchequer, one of the most critical roles in the UK government. This appointment marked a turning point in his career, as he became responsible for managing the country’s finances during unprecedented challenges like the COVID-19 pandemic.
As Chancellor, Sunak introduced several significant initiatives:
- Furlough Scheme
Sunak’s Job Retention Scheme provided financial aid to businesses to pay employee wages during lockdowns. This initiative saved millions of jobs and stabilized the UK economy. - Eat Out to Help Out
To boost the hospitality sector, he launched the Eat Out to Help Out scheme, offering discounts on meals at restaurants. - Support for Small Businesses
Sunak introduced grants, loans, and tax relief measures for small businesses to help them navigate the economic downturn caused by the pandemic. - Economic Recovery Plan
He implemented long-term strategies focusing on infrastructure development, green energy investments, and job creation to revive the economy.
Prime Minister of the United Kingdom
In October 2022, Rishi Sunak made history by becoming the Prime Minister of the United Kingdom, following the resignation of Liz Truss. His rise to the position reflected his ability to unite the Conservative Party during a time of political and economic uncertainty.
As Prime Minister, Sunak has focused on:
- Managing inflation and stabilizing the economy.
- Strengthening the UK’s global trade relationships, particularly post-Brexit.
- Addressing pressing social issues, such as healthcare reform and energy policies.
Business Ventures and Investments
Beyond his political career, Sunak’s financial background allowed him to identify profitable investment opportunities. His experience at hedge funds and his wife’s connection to Infosys, a global IT giant, have contributed to his wealth. Together, the couple has invested in real estate and startups, further diversifying their portfolio.
Family and Relationships
Rishi Sunak is married to Akshata Murty, the daughter of Indian billionaire Narayana Murthy. They have two daughters and are known for their low-profile family life despite their public roles.
| Relation | Name |
|---|---|
| Wife | Akshata Murty |
| Father-in-law | Narayana Murthy |
| Children | Two daughters |
Fascinating Facts About Rishi Sunak
- He is the youngest UK Prime Minister in over 200 years.
- Sunak is an avid fan of cricket and movies.
- He’s a teetotaler and doesn’t drink alcohol.
- Sunak and his wife own properties in London, Yorkshire, and California.
Wrap-Up
Rishi Sunak’s journey from Southampton to 10 Downing Street showcases his determination, intelligence, and financial expertise. With a remarkable net worth of $830 million, he stands as one of the wealthiest politicians in the world. His story inspires many, reflecting the possibilities that come with ambition and hard work.
Also read: Queen Elizabeth Net Worth – SGX Nifty!
FAQs
1. What is Rishi Sunak’s net worth in 2024?
Rishi Sunak’s net worth is estimated to be $830 million.
2. Who is Rishi Sunak’s wife?
Rishi Sunak is married to Akshata Murty, the daughter of Infosys co-founder Narayana Murthy.
3. What are Rishi Sunak’s major achievements?
He became the UK’s first British Asian Prime Minister and played a key role in managing the country’s economy during the COVID-19 pandemic.