Is Prime Minister Rishi Sunak Richer Than King Charles III? Check Here!

Rishi Sunak is a British politician. Since October 2022, he has been Prime Minister of the UK and Leader of the Conservative Party.

From 2020 to 2022, he served as Chancellor of the Exchequer, and from 2019 to 2020, he served as Treasury Secretary. Since 2015, he has served as the Member of Parliament (MP) for Richmond (Yorks).

Early Years and Education

Rishi Sunak was born on 12 May 1980 in Southampton, Hampshire, to Yashvir and Usha Sunak, two Hindus of Indian Punjabi origin who were born in Africa. Yashvir Sunak was born and raised in the Colony and Protectorate of Kenya (present-day Kenya) and is a general practitioner (GP) in the National Health Service (NHS).

Usha Sunak was born in Tanganyika (which later became part of Tanzania) and is the director and pharmacist at Sunak Pharmacy in Southhampton. She holds a degree from Aston University. He is the oldest sibling of three. His brother Sanjay is a psychotherapist, and his sister Raakhi (Williams) is the United Nations worldwide fund for education in crises chief of strategy and planning in New York.

His grandfathers were born in Punjab province, British India, and migrated to the United Kingdom in the 1960s from East Africa with their families. His paternal grandpa, Ramdas Sunak, was from Gujranwala (present-day Pakistan) and migrated to Nairobi in 1935 to work as a clerk. In 1937, his wife, Suhag Rani Sunak, arrived from Delhi.

Raghubir Sain Berry MBE, his maternal grandpa, worked in Tanganyika as a tax official. He had an arranged marriage with 16-year-old Tanganyika-born Sraksha, with whom he had three children. The family relocated to the United Kingdom in 1966, using money from the sale of Srakshas bridal jewelry. Raghubir Berry joined the Inland Revenue in the United Kingdom and was awarded the Order of the British Empire (MBE) as a collector in the 1988 Birthday Honours list.

Sunak attended the Romsey preparatory school Stroud School and the boys independent boarding school Winchester College, where he was head boy. During his summer vacation, he served at a curry restaurant in Southampton. He earned a first-class degree in Philosophy, Politics, and Economics (PPE) from Oxfords Lincoln College in 2001.

During his time in college, he interned at the Conservative Campaign Headquarters. Fulbright scholar in 2006, he graduated with an MBA from Stanford University.

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What is Rishi Sunaks Net Worth in 2022?

Earlier this year, Sunak was included on the Sunday Times list of the wealthiest persons in the United Kingdom.

This makes him the only frontline politician to be included in the yearly ranking since its start in 1989, per the Guardian.

As of October 2022, Rishi Sunak and His Wife Akshata Murthy Has an Estimated Net Worth of $838 Million (730 million), citing Technology and Hedge Fund as their source of fortune. Meanwhile, King Charles III Has an Estimated Net Worth of $600 Million (523 million) which means Rishi Sunak is wealthier than King Charles III of England.

According to The Guardian, Sunak also has a portfolio of four properties valued at more than 15 million that are dispersed across the globe.

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Rishi Sunak and The Cost of Living Crisis

Rishi Sunak as a Prime Minister will face one of the most severe cost-of-living crises in modern history.

According to the latest numbers from the consumer price index, inflation is at a 40-year high of 10.1%, putting a substantial strain on household finances.

This comes at a time when Sunak is facing criticism for his brand-new swimming pool and the projected 14,000-per-year cost to heat it. According to the Guardian, this amount is around six times the average households energy costs.

The previous ex-Chancellor was also criticized for actions such as the removal of the 20 Universal Credit increase earlier this year.

Rishi Sunak on Taxes

Sunak has positioned himself as the fiscally conservative contender in the election for leadership and criticized Liz Truss tax-cutting promises as Comforting Fairytales

He promised to provide tax cuts that stimulate the economy in a responsible manner.

Within seven years, he pledged to reduce the income tax by 4 pence.

Consistently, Rishi Sunak and Akshata Murthy have been targeted by political adversaries for their riches. Prior to the prime ministerial elections, the prime ministerial candidate reportedly erected a luxury swimming pool worth over 400,000 in his 7 million property. According to sources, Akshata Murthys personal wealth was a staggering $1.2 billion as a result of her Infosys shares.

According to the media, Rishi Sunak is the odds-on favorite to win his second election. After Boris Johnsons Controversial dismissal, he ran for the position but lost by a significant margin to Liz Truss. Liz Trusss six-week tenure as prime minister has been cut short owing to economic upheaval, thus Sunak is set to become the first British prime minister of Indian descent.

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Career

Rishi Sunaks Business Career

Between 2001 to 2004, Sunak worked as an analyst for the investment bank Goldman Sachs. Then, in September 2006, he became a partner at the Childrens Investment Fund Management, a firm that manages hedge funds. He resigned in November 2009to join former colleagues in California at Theleme Partners, a new hedge fund business that debuted in October 2010 with $700 million under management.

His supervisor at both hedge funds was Patrick Degorce. Between 2013 and 2015, he was also a director of the investment firm Catamaran Ventures, which was controlled by his father-in-law, the Indian tycoon N. R. Narayana Murthy.

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Rishi Sunaks Political Career

In October 2014, Sunak was chosen as the Conservative candidate for Richmond (Yorks), defeating Wendy Morton. This position was once held by William Hague, a former party leader, foreign minister, and first secretary of state. The Conservatives have held this seat for nearly a century, making it one of the most secure in the United Kingdom.

On July 24, 2019, Sunak was chosen by Prime Minister Boris Johnson to serve as Treasury chief secretary under Chancellor Sajid Javid. He joined the Privy Council the following day.

In the 2019 general election, Sunak was re-elected with an improved majority of 27,210 (47.2%). Sunak represented the Conservatives in both the BBC and ITVs seven-way election debates during the election campaign.

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Chancellor of the Exchequer (202022)

In the weeks preceding Sunaks selection as chancellor of the Exchequer, press briefings suggested that a new economic ministry managed by Sunak could be created to diminish Chancellor Javids position and influence at the Treasury. Sunak was seen as a Johnson loyalist, was favored by Johnsons main strategist Dominic Cummings, and was viewed as a rising star who represented Johnson competently throughout the 2019 election debates.

Sunak was appointed to chancellor on February 13 as part of a cabinet reshuffle. That day, following a meeting with Johnson, Javid resigned. During the meeting, Johnson promised to retain his post on the condition that he fires all of his Treasury advisers and replace them with those chosen by Cummings. Javid stated to the Press Association that no self-respecting minister would accept these conditions.

The first budget for Sunak was presented on March 11, 2020. This included an additional 30 billion in expenditures, of which 12 billion was designated for mitigating the economic effects of the COVID-19 pandemic.

On 17 March 2020, Sunak proposed a program providing 330 billion in emergency assistance to businesses as well as a furlough program for employees. This was the first time a British government had implemented such a program to retain employees.

The scheme was started on 20 March 2020 to provide grants to companies to cover up to 80% of a staff members monthly wage and employment costs, up to a maximum of 2,500 per month per individual. The monthly cost has been estimated at 14 billion.

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In June 2020, David Clarke, chair of the Fraud Advisory Panel charity, and a group of top white-collar crime specialists sent a letter to Sunak, the National Audit Office, and others, alerting them to the potential of fraud against taxpayer-funded government stimulus programs.

They demanded that the names of organizations receiving Bounce Back Loans be made public so that data may be matched to avoid, deter, and detect fraud.

The Future Fund is a 1.1 billion investment portfolio established by Sunak and administered by the British Business Bank in May 2020. During the height of the coronavirus pandemic, the fund invested in 1,190 primarily early-stage businesses. A portfolio director characterized the majority of the companies as zombie businesses, leaving the fund with a huge tail of dormant operations.

Future Fund investments include the sex-party company Killing Kittens and the events startup Pollen, both of which went bankrupt in August of 2022.

King Charles III appointed Sunak as Prime Minister of the United Kingdom on 25 October 2022, making him the first British Asian prime minister as well as the first non-Christian prime minister. He is the youngest Prime Minister appointed in more than two centuries.

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Rishi Sunaks Family

Sunak, a Hindu, took his oath as a Member of Parliament at the House of Commons on the Bhagavad Gita. In August of 2009, he wed Akshata Murthy, the daughter of the Indian billionaire and founder of the technology giant Infosys, N. R. Narayana Murthy.

Sanjay, Sunaks brother, is a psychologist. His sister, Raakhi is the Chief of Strategy and Planning at Education Cannot Wait, the worldwide fund for education administered by the United Nations.

James Forsyth, the political editor of The Spectator, and Sunak have been close friends since their school days. Sunak was the best man during Forsyths wedding to journalist Allegra Stratton, and their children are godparents to one another. In April 2022, it was announced that Sunak and Murthy had relocated from 11 Downing Street to a recently renovated residence in West London.

Summary

Rishi Sunak is a British Politician. He has been Prime Minister of the United Kingdom and Leader of the Conservative Party since October 2022. Sunak was placed on the Sunday Times list of the wealthiest people in the United Kingdom earlier this year. Rishi Sunak and Akshata Murthys estimated net worth as of October 2022 is $838 million.

On 25 October 2022, King Charles III appointed Sunak as Prime Minister of the United Kingdom, making him the first British Asian and non-Christian to hold the position. He is the youngest appointed Prime Minister in almost two centuries.

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