Rishi Sunak is a British politician who has been the Leader of the Conservative Party since 24 October 2022 and is the Prime Minister-designate of the United Kingdom. From 2020 to 2022, he was Chancellor of the Exchequer, and from 2019 to 2020, he was Chief Secretary to the Treasury. Since 2015, he has served as the Member of Parliament (MP) for Richmond (Yorks).
Rishi Sunak is set to become the next Prime Minister of the United Kingdom 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 finance minister and investment banker is already one of the wealthiest people in the United Kingdom.
Quick Facts
| Real Name | Rishi Sunak |
| Nick Name | Rishi |
| Date Of Birth | May 12, 1980 |
| Age | 42 years old |
| Birthplace | Southampton, United Kingdom |
| Nationality | British |
| Profession | Poltician |
| Height | 1.7m |
| Weight | NA |
| Hair Color | Dark brown |
| Eye color | brown |
| Net Worth | $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 was born in Kenya and Tanzania, respectively. His father was a general practitioner, and his mother was a pharmacist who owned a small pharmacy in town.
Rishi Sunak Parents
Rishi Sunak grandparents were born in Punjab Province, British India, and immigrated to the United Kingdom from East Africa in the 1960s.
Sunak is the eldest of three brothers and sisters. His brother Sanjay is a psychologist, and his sister Rakhi works at the Foreign, Commonwealth, and Development Office as the Head of Humanitarian, Peacebuilding, and UN Funds, and Programmes.
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 the university, he worked as an intern at Conservative Campaign Headquarters. He worked as an analyst at Goldman Sachs, an investment bank, from 2001 to 2004. 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 N. R. Narayana Murthy’s, investment firm Catamaran Ventures.
Political Career of Rishi Sunak
He was chosen as the Conservative candidate for Richmond (Yorks) in 2014, a seat previously held by William Hague. The Conservative Party has held the seat for over 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 an MP from Richmond in the 2015 General Election (Yorks). He was a member of the Environment, Food, and Rural Affairs Select Committee from 2015 to 2017.
In 2016, he voted in favor of the EU referendum. He also wrote a report for the Centre for Policy Studies in support of the establishment of free ports following Brexit, and the following year he advocated for the establishment of a retail bond market for SMEs.
In the 2017 General Election, he was re-elected to the same seat. From January 2018 to July 2019, he was the Parliamentary Under-Secretary. He backed Prime Minister Boris Johnson in the 2019 Conservative Party leadership election, even co-writing an article for a British national daily to support Johnson during the campaign in June 2019.
Sunak was re-elected in the 2019 General Election and was appointed as Prime Minister Boris Johnson’s Chief Secretary to the Treasury in July 2019, serving under Chancellor Sajid Javid. On July 25, 2019, he was appointed to the Privy Council. Sunak was promoted to Chancellor of the Exchequer following a cabinet reshuffle in February 2020.
Sunak presented his first budget on March 11, 2020, in the midst of the COVID-19 pandemic. Because the pandemic had a financial impact, Sunak announced an additional £30 billion in spending, £12 billion of which was allocated to mitigating the economic impact of the COVID-19 pandemic.
On March 17, 2020, he announced £330 billion in emergency business support and a salary subsidy scheme for employees. Three days later, he announced the job retention scheme, which drew harsh criticism because an estimated 100,000 people were ineligible for it. 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, August 3 to August 31, 2020. Some consider the scheme a success because it subsidized £849 million in meals, while others disagree.
A study at the University of Warwick revealed that the scheme contributed to a rise in COVID-19 infections of between 8% and 17%.
In his March 2021 budget, Sunak announced that the deficit had risen to £355 billion in the FY 2020-2021, the highest in peacetime. He increased the corporation tax from earlier 19 to 25% in 2023, a five-year freeze in the tax-free personal allowance, and the higher rate income tax threshold.
At the G7 Summit in June 2021, a tax reform agreement was signed to establish a global minimum tax on multinationals and online technology companies. In October 2021, OECD signed an accord to join the tax reform plan.
In October 2021, he unveiled his third budget which included £5bn for health research and innovation and £3bn for skills education.
Rishi Sunak wife
Rishi Sunak Wife
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 N.R. Narayana Murthy. She also owns her own fashion label and is one of the wealthiest women in the United Kingdom.
Rishi Sunak
Rishi Sunak Net Worth
Rishi Sunak was named to the Sunday Times rich list of the UK’s wealthiest people earlier this year. According to the Guardian, he is the first frontline politician to be named to the annual list since it was established in 1989.
According to the list, his and his wife’s net worth is £730 million as of July 2023, 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 own four homes: two in London, one in Yorkshire, and one in Los Angeles. The five-bedroom Kensington home alone is said to be worth £7 million. The four-story house also has its own garden. Another house on London’s Old Brompton Road is rumored to be where the extended family stays when they visit.
The couple owns a Grade II listed Georgian mansion in Yorkshire, which is set on 12 acres and includes an ornamental lake. Meanwhile, the penthouse in California overlooks the beach where the filming of Baywatch took place. Their finances were scrutinized after the Labour Party demanded that he be more transparent about the loans he used to fund his businesses.
Categories: Biography
Source: HIS Education