Rishi Sunak is a British politician who has been the leader of the Conservative Party since 24 October 2022 and the candidate for Prime Minister of the United Kingdom. From 2020 to 2022 he was Minister of Finance and from 2019 to 2020 he was Chief Secretary of the Treasury. Since 2015, he has been the Member of Parliament (MP) for Richmond (Yorks).
Rishi Sunak will become UK’s next prime minister after winning the Conservative Party leadership election. As a result, he will be the most powerful person in the country. The 42-year-old former Chancellor of the Exchequer and investment banker is already one of the richest people in the UK.
|Real name||Rishi Sunak|
|Date of birth||May 12, 1980|
|Age||42 years old|
|Birthplace||Southampton, United Kingdom|
|Hair colour||Dark brown|
|Net value||$730 million|
Rishi Sunak Age, Wiki
Rishi Sunak was born in Southampton, Hampshire, South East England on May 12, 1980, to Indian parents Yashvir and Usha Sunak, who were born in Kenya and Tanzania respectively. His father was a general practitioner and his mother was a pharmacist and ran a small pharmacy in the city.
Rishi Sunak Parents
Rishi Sunak grandparents were born in the province of Punjab, British India, and immigrated from East Africa to the United Kingdom in the 1960s.
Sunak is the eldest of three siblings. His brother Sanjay is a psychologist and his sister Rakhi works in the Foreign, Commonwealth and Development Office as head of Humanitarian, Peacebuilding and UN funds and programs.
Rishi Sunak Education
He attended Winchester College, Lincoln College, Oxford University and Stanford University. Sunak worked as a waiter at a curry house in Southampton during his summer vacation.
Business career of Rishi Sunak
During his time at university, he worked as an intern at the Conservative Campaign Headquarters. He worked from 2001 to 2004 as an analyst at Goldman Sachs, an investment bank. In September 2006, he left his job to become a partner at The Children’s Investment Fund Management (TCI). In 2009, he joined Theleme Partners, another hedge fund firm. He was also a director of his father-in-law, businessman NR Narayana Murthy’s, investment company Catamaran Ventures.
Political career of Rishi Sunak
He was elected in 2014 as Conservative candidate for Richmond (Yorks), a seat previously occupied by William Hague. The Conservative Party has held the seat for more than a century. That year, he led Policy Exchange’s Black and Minority Ethnic (BME) Research Unit and co-wrote a report on BME communities in the United Kingdom.
He was elected as Member of Parliament from Richmond in the 2015 general election (Yorks). From 2015 to 2017, he was a member of the Select Committee for Environment, Food and Rural Affairs.
In 2016, he voted in favor of the EU referendum. He also wrote a report for the Center for Policy Studies supporting the creation of free ports after Brexit, and the following year advocated the creation of a retail bond market for SMEs.
He was re-elected to the same seat in the 2017 general election. From January 2018 to July 2019, he was the Parliamentary Undersecretary. He supported Prime Minister Boris Johnson in the 2019 Conservative Party leadership election, and even co-wrote an article for a British national daily to support Johnson during the June 2019 campaign.
Sunak was re-elected in the 2019 general election and was appointed Boris Johnson’s Prime Minister of Finance under Chancellor Sajid Javid in July 2019. He was appointed to the Privy Council on 25 July 2019. Sunak was promoted to finance minister following a cabinet reshuffle in February 2020.
Sunak presented its first budget on March 11, 2020, in the midst of the COVID-19 pandemic. As the pandemic had a financial impact, Sunak announced an additional £30 billion, of which £12 billion was allocated to mitigate the economic impact of the COVID-19 pandemic.
On March 17, 2020, he announced £330 billion in corporate emergency assistance and a salary subsidy scheme for employees. Three days later, he announced the job-preservation scheme, which has been criticized for being ineligible for an estimated 100,000 people. The scheme has been extended until September 30, 2021.
Sunak announced the Eat Out to Help Out Scheme, a £30 billion initiative to support and create jobs in the hospitality industry. Food and soft drinks are 50% off at participating cafes, pubs and restaurants, up to £10 per person.
The offer was valid from Monday to Wednesday, 3 August to 31 August 2020. Some consider the scheme a success as it has subsidized £849 million worth of meals, while others disagree.
A study at the University of Warwick found that the scheme has helped increase the number of COVID-19 infections by between 8% and 17%.
In his March 2021 budget, Sunak announced that the deficit had risen to £355 billion in fiscal year 2020-2021, the highest in peacetime. He raised the corporate tax rate from previously 19 to 25% in 2023, a five-year freeze on the untaxed personal allowance and the higher income tax threshold.
At the G7 summit in June 2021, a tax reform agreement was signed to introduce a global minimum tax for multinational corporations and online technology companies. In October 2021, the OECD signed an agreement to join the tax reform plan.
In October 2021, he unveiled his third budget, including £5 billion for health research and innovation and £3 billion for skills education.
Rishi Sunak Female
Rishi Sunak married Akshata Murthy in August 2009. They have two daughters. His wife works as a director at Catamaran Ventures and is the daughter of Indian billionaire NR Narayana Murthy. She also has her own fashion label and is one of the richest women in the UK.
Rishi Sunak net worth
Rishi Sunak was named on the Sunday Times rich list of the UK’s richest people earlier this year. According to The Guardian, he is the first frontline politician to be on the annual list since its inception in 1989.
According to the list, his and his wife’s net worth is £730 million, with their sources of wealth classified as ‘technology and hedge fund’. Sunak also owns a portfolio of four properties worth more than £15 million, according to the Guardian.
Rishi Sunak Real State worth £15 million
Sunak and Murty owns four houses: two in London, one in Yorkshire and one in Los Angeles. Kensington’s five-bedroom house alone would be worth £7 million. The four-storey house also has a private garden. Rumor has it that another house on London’s Old Brompton Road is where the extended family stays when they visit.
The couple own a Grade II listed Georgian town house in Yorkshire, set in 12 acres with an ornamental lake. Meanwhile, the California penthouse overlooks the beach where the Baywatch filming took place. Their finances came under scrutiny after the Labor Party demanded that he be more transparent about the loans he used to finance his businesses.