Rishi Sunak has been the Prime Minister of the United Kingdom since 2022. He is the son-in-law of Narayana Murthy, the co-founder of Infosys, a leading Indian IT company. This article will discuss Rishi Sunak net worth 2023 based on various sources and factors. We will look at his income, assets, liabilities, and investments and how they have changed. We will also compare his net worth with his previous years or other prominent political or business figures.
Rishi Sunak Net Worth 2023: Income
Sunak earns his income as the Prime Minister of the UK and as an investor with a large portfolio of assets. Rishi Sunak Net Worth 2023 is 200 million. According to his tax returns, he earned a total of £4.766 million between 2019 and 2022 and paid £1.053 million in tax. His income sources can be divided into four categories:
Parliamentary and ministerial salary: Sunak received a salary of £411,000 over the three years as an MP and a minister. This includes his basic MP salary of £81,932 per year, his additional salary for being the Chancellor of the Exchequer from February 2020 to October 2022, and the Prime Minister from October 2022 onwards. His annual salary as the Prime Minister is £164,9514, made up of two payments: £80,807 for his role as Prime Minister and £84,144 for being an elected MP.
Investment and savings income: Sunak earned £600,000 from his investment and savings income over the three years. This includes dividends, interest, and other returns from his holdings in a single US-based investment fund managed by a blind trust. Rishi has not told the fund’s name or value, but it is believed to be worth hundreds of millions of pounds. Sunak also has a stake in his father-in-law’s company, Infosys, one of India’s largest IT firms.
Capital gains: Sunak made £3.8 million from capital gains over the three years. This refers to his profit from selling assets that have increased in value, such as shares, property, or art. Rishi has not revealed what assets he sold or how much he gained from each sale. He has said that he paid capital gains tax at the appropriate rate.
Other income: Sunak received £156,163 from other income sources over the three years. This includes fees, royalties, or other payments he may have received for his previous roles as a hedge fund manager, banker, or consultant. Sunak has not specified these sources or how much he earned from each one.
Rishi Sunak Net Worth 2023: Assets
Rishi Sunak has access to several valuable assets, such as properties, cars, jewellery, and art. According to various sources, his assets can be estimated as follows:
Properties: Sunak and his wife, Akshata Murty, own four properties in the UK and US worth an estimated £15 million. Two of these properties are in Kensington, London, where they have a five-bedroom mews house worth £7 million and a pied-à-terre apartment worth £1.5 million. The couple also have a country estate in North Yorkshire, near Sunak’s constituency, a Grade II-listed manor house with 12 acres of land worth £1.5 million. Their fourth property is a penthouse apartment in Santa Monica, California, where they spend their holidays, worth £5.5 million.
Cars: Sunak has a collection of seven luxury cars worth around $700,0007. His cars include a Land Rover Discovery ($60,000), a Jaguar XJ ($86,500), a Volkswagen Golf Mk6 GTI ($29,000), a Kia Rio ($28,900), a Mercedes S-Class ($110,000), a Range Rover Sport ($145,900), and a Range Rover SV Autobiography ($220,000).
Art: Sunak is an art collector with a penchant for artworks made from money. He has loaned some of his artworks to the Government Art Collection, which displays them in his official residence at 10 Downing Street. Some of the works he has loaned include Money Map of the World by Justine Smith ($15,000), Money by Sarah Morris ($20,000), and Money by Tim Noble and Sue Webster ($25,000). Sunak also owns artworks by Harland Miller, a British artist who paints old Penguin paperback covers with witty titles. He has lent one of his Miller paintings to the York Art Gallery for an exhibition. The painting is titled Rags to Polyester – My Story and is worth £250,000.
Rishi Sunak has a diverse portfolio of investments, ranging from hedge funds to startups to green energy.
Theleme Partners: Sunak co-founded this London-based hedge fund in 2010 after leaving Goldman Sachs and working for two other hedge funds. Theleme Partners invests in global equities, focusing on technology, healthcare, and consumer sectors. Sunak left the firm in 2013 to pursue a political career but still retains a stake worth up to £10 million. Theleme Partners has been one of the biggest beneficiaries of the Covid-19 vaccine boom, as it holds a large stake in Moderna. This US-based biotech company developed one of the most effective vaccines against the virus. Moderna’s share price soared by more than 600% in 2020, making it one of the best-performing stocks in the world.
Catamaran Ventures: Sunak’s wife, Akshata Murty, is the founder and director of this UK-based venture capital fund, which invests in startups across various sectors, such as fintech, health tech, edtech, and e-commerce. They are backed by her father, Narayana Murthy, who co-founded Infosys, one of India’s largest IT companies. Murty owns a 0.91% Infosys stake worth about £690 million. She also receives annual dividends of about £12 million from the company. However, Catamaran Ventures announced in September 2023 that it would shut down its UK operations and focus on its Indian portfolio.
Future Fund: Breakthrough: Sunak launched this scheme in July 2023 to boost innovation and growth in the UK economy. The scheme provides £375 million of government funding to fast-growing firms looking to raise at least £30 million of investment from private sources. Sunak said the scheme would help the UK become a “science superpower” and attract more investment from global investors.
Interesting facts about Rishi Sunak:
- He wanted to be a Jedi knight when he was growing up. He told children at a Northallerton primary school that his dream job as a child was to be a Jedi knight. Rishi even smuggled in a portable TV to his boarding school to watch Euro 96.
- He attended both the University of Oxford and Stanford University. He studied Philosophy, Politics and Economics at Lincoln College, Oxford, where he graduated with a first-class degree. Rishi then won a Fulbright scholarship to pursue an MBA at Stanford University in the US.
- He co-founded an investment banking firm. Before entering politics, he worked as an analyst for Goldman Sachs and a hedge fund manager for two other firms. In 2009, he co-founded Theleme Partners, a London-based hedge fund that invests in global equities. He left the firm in 2013 to become an MP but still retains a stake worth up to £10 million. Theleme Partners has profited from the COVID-19 vaccine boom. It holds a large stake in Moderna, one of the leading vaccine makers.
- He is the MP for Richmond (Yorks). Rishi was first elected to Parliament in 2015, representing the constituency of Richmond in North Yorkshire. He won his seat with over 60% of the votes in 2019.
- His wife, Akshata Murty, is the founder and director of Catamaran Ventures. She is also the daughter of Narayana Murthy, the co-founder of Infosys, one of India’s largest IT companies. Also, Akshata owns a 0.91% Infosys stake worth about £690 million. She also receives annual dividends of about £12 million from the company. The couple have two daughters and live in London and North Yorkshire.
Sunak is among the UK’s richest and most powerful politicians and possibly the world. Rishi Sunak Net Worth 2023 is estimated to be between £200 million and £300 million. Rishi Sunak Net Worth 2023 is also comparable to some of the wealthiest business leaders and celebrities in the world, such as Elon Musk ($200 billion), Jeff Bezos ($177 billion), and Oprah Winfrey ($3.5 billion). Sunak’s net worth reflects his successful career in finance and politics, as well as his privileged background and family connections. However, his net worth also raises questions about his potential conflicts of interest, influence, and impact on the UK economy.