Rishi Sunak and his wife Akshata Murty have now surpassed the King in wealth, with their personal fortune increasing by more than £120 million last year.
According to the Sunday Times Rich List, the couple’s wealth has risen from £529 million to £651 million, while millions of Britons grapple with the cost of living crisis. The Prime Minister and Murty have moved up from 275th to 245th on the list of Britain’s wealthiest individuals, making them the richest occupants of No. 10 Downing Street.
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This makes them wealthier than King Charles, whose fortune has grown from £600 million to £610 million this year.
The news comes amid a worsening cost of living crisis, with figures from the Trussell Trust revealing a record 3.1 million food parcels distributed over the past year. The significant increase in the couple’s wealth is primarily driven by Murty’s stake in Infosys, the $70 billion (£55.3 billion) Indian IT company founded by her father. Her shares increased in value by £108.8 million, reaching nearly £590 million for the year.
This surge in wealth comes as Westminster prepares for a general election and the Conservatives continue to struggle in the polls. Surveys frequently highlight Sunak’s perceived wealth.
Murty faced severe criticism when Sunak was Chancellor, as it was revealed she was benefiting from Britain’s non-dom tax status. This status allowed her to claim her permanent home was outside the UK and pay tax only on her UK earnings, potentially avoiding £20.6 million in taxes.