LONDON: UK chancellor of the exchequer Rishi Sunak and his wife Akshata Murty made their debut in the annual ‘Sunday Times Rich List’ on Friday, ranked 222 with their combined fortune estimated at £730 million in a tally topped by Indian-origin Hinduja brothers with nearly £28. 5 billion.
British-born Sunak, who is married to India-born Murty — the daughter of Infosys co-founder N R Narayana Murthy, is described in the analysis as the first frontline politician to appear in its annual rankings of the UK’s wealthiest in its 34-year history. The bulkof their wealth is believed to come from Murty’s £690-million stake in Infosys, but Sunak also had a lucrative career in finance before entering politics in 2015 as a member of Conservative Party.
Sunak and Murty faced criticism and public anger last month over Murty’s “non-domiciled” tax status which me- ant she did not pay tax in Britain on her earnings abroad. She subsequently gave up the sta- tus and said she would pay British tax on her global income. It has been estimated Murty’s “non-dom” status could have saved her £20 million in taxes on dividends from her shares in Infosys. The report noted that she owns 0. 9% of Infosys.
Sunak’s inclusion comes at a politically difficult time for the man in charge of Britain’s budget as he faces pressure to increase support for households struggling with soaring energy bills and food pri- ces. “Not so long ago Sunak was touted as a future PM, a smooth heir to Boris Johnson. But, the chancellor’s ambitions have been derailed by last month’s revelation that his wife, Akshata, was a nondom,” read ‘The Sunday Times Rich List’ report. Meanwhile, Sri and Gopichand Hinduja and family returned to the top of the rankings after slipping to third place last year, with the biggest fortune recorded in the list’s history.
British-born Sunak, who is married to India-born Murty — the daughter of Infosys co-founder N R Narayana Murthy, is described in the analysis as the first frontline politician to appear in its annual rankings of the UK’s wealthiest in its 34-year history. The bulkof their wealth is believed to come from Murty’s £690-million stake in Infosys, but Sunak also had a lucrative career in finance before entering politics in 2015 as a member of Conservative Party.
Sunak and Murty faced criticism and public anger last month over Murty’s “non-domiciled” tax status which me- ant she did not pay tax in Britain on her earnings abroad. She subsequently gave up the sta- tus and said she would pay British tax on her global income. It has been estimated Murty’s “non-dom” status could have saved her £20 million in taxes on dividends from her shares in Infosys. The report noted that she owns 0. 9% of Infosys.
Sunak’s inclusion comes at a politically difficult time for the man in charge of Britain’s budget as he faces pressure to increase support for households struggling with soaring energy bills and food pri- ces. “Not so long ago Sunak was touted as a future PM, a smooth heir to Boris Johnson. But, the chancellor’s ambitions have been derailed by last month’s revelation that his wife, Akshata, was a nondom,” read ‘The Sunday Times Rich List’ report. Meanwhile, Sri and Gopichand Hinduja and family returned to the top of the rankings after slipping to third place last year, with the biggest fortune recorded in the list’s history.
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