Rishi Sunak personal wealth: How rich is Chancellor?
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The Chancellor of the Exchequer Rishi Sunak will unveil a raft of measures designed to prevent unemployment levels rising and encourage public spending to boost the economy today. Speaking to the House of Commons, the Chancellor will reveal his Spring update at 12.30pm, having already revealed furlough will be extended until September. But exactly how well off is Mr Sunak?
Chancellor Rishi Sunak will address MPs in the House of Commons later on Wednesday.
He revealed furlough will be extended until the end of September on Tuesday.
Ahead of the Budget, he revealed millions of workers will continue to have 80 percent of their wages paid until the end of September.
More than 600,000 additional people, including many of the self-employed who previously missed out on grants, will also get support.
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 constituency’s 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.
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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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