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Britain's finance minister becomes first UK politician to enter 'Rich List' with estimated household wealth of £730 million

Business Insider logo Business Insider 5/20/2022 hdyer@insider.com (Henry Dyer)
Rishi Sunak is the first frontline politician to enter the Sunday Times Rich List Getty © Getty Rishi Sunak is the first frontline politician to enter the Sunday Times Rich List Getty
  • Rishi Sunak, Britain's finance minister, has entered the Sunday Times Rich List.
  • Sunak and his wife are the joint 222nd richest family in the UK with a combined wealth of £730 million.
  • Sunak is the first frontline politician to appear on the list since it began in 1989, the paper reported.

Chancellor Rishi Sunak has entered the Sunday Times Rich List, as one of the UK's wealthiest 250 families, the first frontline politician to do so.

The top British finance minister and his wife, Akshata Murthy, have joined the list as joint 222nd with an estimated total valuation of £730 million ($911 million), the newspaper reported.

The bulk of the pair's wealth comes from Murthy, the daughter of the Indian billionaire businessman Narayana Murthy, who founded the Indian IT conglomerate Infosys.

Akshata Murthy holds a small stake in the firm, estimated to be worth £690 million ($861 million).


Video: Sunday Times Rich List: Rishi Sunak and wife join elite with £730m fortune (The Independent)

Sunday Times Rich List: Rishi Sunak and wife join elite with £730m fortune
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Revelations about Murthy having non-domicile tax status in the UK damaged Sunak's political standing, MPs told Insider, coupled with disclosures that Sunak had held a US green card while chancellor.

Murthy has since given up her non-domicile tax status following the controversy, and will pay UK taxes on her worldwide income. Sunak gave up his green card in October 2021 ahead of his first trip to the US as a minister.

He is the first frontline politician to appear since the list began in 1989, and his appearance on the list comes as Sunak faces calls to take action against spiralling prices for food, energy, and other essentials as inflation approaches 10%.

Sunak told the Confederation of British Industry on Wednesday that "the next few months will be tough."

The Chancellor has previously been criticised for being out of touch with ordinary British people, allegations not helped by posing for photographs with a £180 ($224) smart coffee mug that keeps a beverage at a precise temperature for up to three hours.

As well as their Georgian manor house in Richmond, Sunak and Murthy also own a penthouse in Santa Monica, California, and two properties in London.

The UK's deputy prime minister, Dominic Raab, defended Sunak's inclusion in the list. Raab told Times Radio that Sunak was a "fantastic example of someone who's been successful in business, who's coming to make a big impact in public service."

Raab described Murthy as "an incredibly successful entrepreneur in her own right."

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