UK PM Rishi Sunak And Wife Akshata Murty Ascend Ranks on Sunday Times Rich List

British Prime Minister Rishi Sunak and his wife, Akshata Murty, have ascended in the ranks of Britain’s wealthiest individuals, according to the 2024 edition of the annual ‘Sunday Times Rich List’. Thanks to Murty’s substantial shareholding in Infosys, the Bangalore-based IT company co-founded by her father Narayan Murthy, the couple has climbed from 275th place last year to 245th this year, boasting an estimated wealth of GBP 651 million. Their rise in wealth positions them as the “wealthiest people to call 10 Downing Street home.”

Akshata Murty’s significant earnings, particularly from dividends, have propelled their wealth forward, overshadowing her husband’s income. Recent financial statements indicate that while Rishi Sunak earned GBP 2.2 million in 2022-23, Akshata Murty’s dividends amounted to an estimated GBP 13 million over the past year alone. The primary asset driving their fortune is Murty’s shareholding in Infosys, which has appreciated by GBP 108.8 million over the past year to nearly GBP 590 million. Murty received approximately GBP 13 million in dividends during that time and is set to receive another GBP 10.5 million this year.

The top position on the ‘Sunday Times Rich List’ continues to be held by the Indian-origin Hinduja family, whose wealth has surged to GBP 37.196 billion, partly attributed to the opening of their luxury OWO Hotel in London. The family’s conglomerate, operating in 48 countries across various sectors, has seen expansion through acquisitions, supported by growing stock market valuations of their main listed holdings totaling GBP 8.7 billion.

Other notable Indian-origin billionaires on the 2024 list include David and Simon Reuben at third place with a fortune of around GBP 24.977 billion, Lakshmi N. Mittal at eighth place with GBP 14.921 billion, and Anil Agarwal at 23rd place with GBP 7 billion.

However, the 36th edition of the ‘Sunday Times Rich List’ reveals a decrease in billionaires compared to previous years, with the total falling from 177 in 2022 to 165 in 2024. Compiler Robert Watts suggests that this decline indicates a slowdown in Britain’s billionaire boom, with many entrepreneurs experiencing a decrease in fortunes. Nonetheless, there are exceptions to this trend, such as former Beatle Sir Paul McCartney, who has become the first UK musician to achieve billionaire status after increasing his wealth by GBP 50 million over the past year.