UK PM Sunak’s wealth declines but still ranked 275th in country’s rich list

THE wealth of British Prime Minister Rishi Sunak and his wife Akshata Murty has fallen over the last year, putting them in 275th place in the Sunday Times Rich List, after the value of their stake in Indian IT giant Infosys dropped.

The pair were ranked in 222nd position last year. Shares in Infosys, which was founded by Murty’s father, have fallen by about 20 per cent in the last 12 months.

Sunak is the richest ever occupant of 10 Downing Street, and his fortune has opened him up to regular attacks from opposition politicians who say he is out of touch with ordinary people at a time of a cost-of-living crisis making many Britons poorer.

He has said people should not hold his wealth against him.

“I think in our country, we judge people not by their bank account, we judge them by their character and their actions. And yes, I’m really fortunate to be in the situation I’m in now, but I wasn’t born like this,” Sunak said last year.

Inflation stands at over 10 per cent and wages are not rising as fast, squeezing household incomes and causing a cost of living crisis which dominates headlines. Sunak has pledged to halve inflation and grow the economy to address the issue.

As prime minister, he is entitled to an annual salary of about £165,000 (S$276,189). According to Rich List estimates, his wealth was put at around £730 million last year, before it dropped to 529 million in 2023.

Last year, Sunak’s Indian-born wife faced public criticism and anger after it was revealed she had “non-domiciled” tax status, meaning she did not pay tax in Britain on her earnings abroad. She subsequently relinquished such status and said she would pay British tax on her global income. REUTERS