TOP TRENDING

Rishi Sunak's wife is richer than the queen: her stake in the family's tech company is worth £ 430 million


Rishi Sunak's wife has a £ 430 million stake in her family's tech company, making her one of the richest women in Britain.

Akshata Murthy and her relatives hold a multi-million pound portfolio of holdings that the Chancellor, who met his future wife while studying at Stanford University, California, has not entered on the Ministerial Register.

The fortune makes Akshata richer than the Queen, whose value is estimated at £ 350 million, according to the Sunday Times Rich List.

The latest revelation comes after Mr. Sunak was asked last month to reveal details of his financial interests. After it was discovered that he had been named Chief Secretary of the Treasury last July, he set up a "blind foundation."

However, critics said there was still a risk of conflict as Mr Sunak – allegedly the richest MP – knows what he has put in the trust.

Chancellor Rishi Sunak's wife, Akshata Murthy (pictured together at their wedding) has a £ 430 million stake in her family's tech business, making her richer than the queen, according to the Sunday Times Rich List

He became a household name after marrying Akshata Murthy, the daughter of the billionaire who founded an amazingly successful IT company. Pictured: The couple at the wedding with Murthy's parents

He became a household name after marrying Akshata Murthy, the daughter of the billionaire who founded an amazingly successful IT company. Pictured: The couple at the wedding with Murthy's parents

Sunday Times Rich List Details The Queen is valued at £ 350 million

Sunday Times Rich List Details The Queen is valued at £ 350 million

Sunak's wife is the daughter of an entrepreneur in India who co-founded technology company Infosys – which she owns 0.91% of the shares valued at £ 430 million.

Her family is also said to have a joint venture with Amazon valued at £ 900 million a year and to buy a stake in Jamie Oliver in the UK and Wendy & # 39; s burger chain in India.

Before he became Chancellor, Sunak was better known in India than in the UK after becoming a household name when he married Akshata, the daughter of a self-made billionaire.

Born in Southampton, Sunak studied philosophy, politics and economics at Oxford and traveled on a Fulbright scholarship to Stanford University in California, where he met his future wife.

Last month it became known that in taking on ministerial duties, the Chancellor had set up a "blind foundation," which meant he did not know where his assets were being invested. Pictured: Sunak with his wife Akshata and their children

Last month it became known that in taking on ministerial duties, the Chancellor had set up a "blind foundation," which meant he did not know where his assets were being invested. Pictured: Sunak with his wife Akshata and their children

Sunak is on site and is referred to as "Maharaja of the Dales" (pictured is the magnificent Georgian mansion in North Yorkshire).

Sunak is on site and is referred to as "Maharaja of the Dales" (pictured is the magnificent Georgian mansion in North Yorkshire).

Rishi Sunak, pictured with his wife Akshata Murthy, was better known in India than in Britain before he became chancellor

Rishi Sunak, pictured with his wife Akshata Murthy, was better known in India than in Britain before he became chancellor

Born in Southampton, Sunak studied philosophy, politics and economics at Oxford and traveled on a Fulbright Scholarship to Stanford University in California, where he met his future wife (picture with her family, second from right).

Born in Southampton, Sunak studied philosophy, politics and economics at Oxford and traveled on a Fulbright Scholarship to Stanford University in California, where he met his future wife (picture with her family, second from right).

At the time, Akshata's father's company was valued at around £ 2 billion and is now valued at around £ 33.3 billion.

Murthy & # 39; s Millions: Akshata's family business portfolio

  • Combined stake in Infosys technology company worth £ 1.7 billion
  • Joint venture with Amazon, Cloudtail, in India valued at £ 900 million per year
  • Participation in a British company that operates Jamie Oliver's restaurants and Wendy & # 39; s burger chain in India
  • Also holds an interest in Koru Kids and is the director of Digme Fitness
  • Murthy is a shareholder or director of five other UK companies, including Mayfair outfitter, which costs £ 2,500 each of Eton College students' tailcoats
  • Akshata is also listed as the director of the British arm of the software company Soroco, which her brother co-founded

The couple married in their hometown of Bangalore in 2009 in a two-day ceremony attended by 1,000 guests.

Prior to entering politics was Mr Sunak, who is now a multimillionaire himself with degrees from Winchester College and Oxford University valued at £ 42,000 a year.

During his tenure, he worked in California, India and the UK for various investment firms, including Goldman Sachs.

He later founded his own company, Theleme Partners, in 2010 with an initial fund of £ 536 million.

While building the hedge fund, he volunteered for the Conservatives for a few days – when he decided to go full-time in politics.

Every year they hold a summer garden party for the villagers at their magnificent £ 1.5 million Georgian mansion in Kirby Sigston, just outside Northallerton, Yorkshire. Sunak is known as the "Maharaja of the Dales".

Sir Alistair Graham, a former chairman of the Committee on Standards in Public Life, said the Chancellor appeared to have "taken the most minimalist approach" to disclosing information.

He told The Guardian, "Perhaps Rishi Sunak should read the 'Seven Principles of Public Life' carefully to ensure that he meets the two principles of 'honesty and leadership'."

However, a Treasury Department spokesman said Mr. Sunak "followed the ministerial code in its declaration of interests closely".

It follows that Mr. Sunak was faced with demands last month for details of his financial interests to be disclosed after it was revealed that he had built a "blind trust" to become a minister.

The Chancellor deployed the agreement, which means he doesn't know how his assets will be invested when he was appointed Secretary General of the Treasury last July.

By setting up the “blind trust”, he does not have to provide any further details about his investment portfolio. Pictured: Sunak with his wife and children in the last election

By setting up the “blind trust”, he does not have to provide any further details about his investment portfolio. Pictured: Sunak with his wife and children in the last election

The new Chancellor of the Exchequer is pictured with his wife Akshata and their two children during a Santa Claus run

The new Chancellor of the Exchequer is pictured with his wife Akshata and their two children during a Santa Claus run

The couple married in their hometown of Bangalore in 2009 in a two-day ceremony attended by 1,000 guests

The couple married in their hometown of Bangalore in 2009 in a two-day ceremony attended by 1,000 guests

Prior to entering politics was Mr Sunak, who is now a multimillionaire himself with a £ 42,000-a-year degree from Winchester College and Oxford University

Prior to entering politics was Mr Sunak, who is now a multimillionaire himself with degrees from Winchester College and Oxford University of £ 42,000 a year

However, critics said there was still a risk of conflict as Mr Sunak – allegedly the richest MP – knows what he has put in the trust.

This also means that he does not have to provide any further details about his investment portfolio. The presence of the trust was revealed in the most recent register of ministerial interests.

Other official documents showed that he had not received his salary for five months when he entered the treasury last year. Until shortly before Christmas he waived the addition of £ 34,000 to his MP's salary.

Theresa May was also controversial when she took a similar move when she became Prime Minister in 2016.

And in the mid-1990s, the Tories attacked Tony Blair when it was found that, as an opposition leader, he was using blind trust to fund his office.

Former standards tsar Sir Alex Allan, who resigned from his role last week after Boris Johnson overruled his conclusion that Home Secretary Priti Patel had violated the Ministerial Code, reportedly signed Sunak's disclosures.

(tagsToTranslate) Dailymail (t) Messages (t) Rishi Sunak