Economy

UK’s Rishi Sunderak becomes the richest ever occupant Of Number 10 By Stocksak


© Stocksak. Britain’s new Prime Minster Rishi Sunak waves when he enters Number 10 Downing Street. This was October 25, 2022 in London. REUTERS/Henry Nicholls

By Alistair Smout

LONDON (Stocksak). – Rishi and Akshata Sunak will be the richest occupants of Number 10 Downing Street. This comes at a time when the country is struggling with an economic crisis, and the government is contemplating painful spending cuts.

The couple landed at number 22 on The Sunday Times UK Rich List in May with a net worth of 730million pounds ($837 million). Sunak became the first frontline political figure to be included on the list since its inception in 1989.

Sunak’s wealth puts him above Edward Stanley, the previous richest prime minster according to the Guineas Book of World Records. According to the Guineas Book of World Records, his personal fortune of more 7 million pounds in 19th-century would translate to approximately 450 millions pounds today.

Sunak was asked in August how he could relate with the public considering he was wealthier than Queen Elizabeth. He replied that people shouldn’t hold his wealth against them.

“I believe that in our country, people are judged not by their bank accounts, but by their character and their actions. Sunak stated that while I am very fortunate to be where I am now, it is not something I was born into.

“My parents worked hard to give me these opportunities. I am not going to apologize for the things they did for me. In fact, I’m not going to apologize for what they did to me. I want to make sure that everyone has those opportunities.”

Sunak was defeated by Liz Truss in the leadership contest, but the former finance minister has been elevated to Britain’s highest office. Truss’s premiership collapsed in record time after a disastrous economic plan that rattled markets.

Truss’s fall gives Sunak, who has been vindicated, a chance to be the next leader. However, opponents are keen for Sunak’s wealth, something that has caused him political problems in the past and especially considering his warning about the big challenges ahead.

“Rishi Sunak’s words will not do anything to reassure struggling people sick about the winter ahead,” Ed Davey, leader of the pro EU Liberal Democrats, said. Calling Sunak “out-of-touch”, he added.

GOLDMAN TO NONDOM

Sunak was educated privately at Winchester College and then went on to Oxford to study Economics, Philosophy, Politics and Economics. He also studied under David Cameron, Truss, and David Cameron, former Conservative prime ministers.

His father was a doctor, his mother a pharmacist. He prefers not to mention his humble origins as he helped organize the family chemist’s payroll as the beginning his economic literacy.

After graduating, he worked at Goldman Sachs (NYSE 🙂 as an analyst before he went into politics.

Despite his city experience, Akshata Murthy is the one who has most of his family’s wealth.

Savanta ComRes released a poll on Monday asking voters to describe Sunak using one word. The word-cloud results showed that one word was the most popular response to Sunak’s question: “Rich.”

Forbes has valued his father-in-law at $4.5 Billion. He earlier said Tuesday that he was “confident” that Sunak (Sunak), would do his best for the people in the United Kingdom.

Sunak’s spouse is an Indian citizen. She holds a stake in Infosys, NYSE:, worth approximately $721 Million. The couple’s wealth has been controversial for the British public.

In April, Murthy’s non-domiciled tax status meant that she didn’t pay tax in Britain for any of her earnings from abroad. This led to public anger and criticism. She later renounced the status and stated that she would pay British tax on global income.

Sunak stated at the time that political attempts to harm him were made to ask questions about his father in law’s wealth and his wife’s tax arrangements.

Sunak’s victory saw the main opposition Labour Party highlight how it would eliminate “nom-dom status” and criticize Sunak’s handling of public and personal finances.

Angela Rayner, Labour deputy leader, stated in a statement that “this is the same Rishi sunak who, as Chancellor, failed to grow the economy and failed to get a handle on inflation and failed to help families deal with the Tory cost-of-living crisis.”

“And it’s exactly the same Rishi Sunak, whose family avoided paying taxes in this country before they put up taxes for everyone else.”

($1 = 0.8726 pounds)

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