Rishi Sunak, the UK Chancellor of the Exchequer, and his wife Akshata Murthy made their debut in the annual ‘Sunday Times Rich List’ on Friday, ranking 222nd with a combined fortune of GBP 730 million, topped by Hinduja brothers of Indian descent. An estimated GBP 28.472 billion.
The British-born Sunak, who married an Indian-born idol – the daughter of NR Narayan Murthy, co-founder of Infosys – has been described in the analysis as one of the top politicians in the UK’s annual ranking of the richest people in 34 years. History
The 42-year-old finance minister of Indian descent is a former hedge fund manager who gave up his financial career to be elected Conservative Party MP in 2015.
Not so long ago, 42-year-old Sunak was hailed as a future prime minister, a smooth successor to Boris Johnson. Which allows those who have a permanent home (residential) outside the UK to pay only income tax in this country, as well as an annual charge of GBP 30,000, “the Sunday Times Rich List reports.
For the statue, it mentions that the entrepreneur owns 0.93 percent of Infosys in his own name, which would be a fraction of the approximately 690 million GBP value.
“It should have paid around GBP 54 million in dividends over the last seven and a half years – including GBP 11 million in 2021. Without the non-dom status, Murthy would have been liable to pay GBP 20.6 million UK tax on these payments. Done, “the report adds.
Last month, Murthy announced that she would pay UK taxes on all her income, including from India, to avoid controversy over her non-dome status due to her being “disrupted” by her husband.
Sunak defended his wife harshly and has since been given a clean chit by an ethics adviser to an independent minister in the UK government.
Meanwhile, Shri and Gopichand Hinduja and family have returned to the top of the ‘Sunday Times Rich List’ rankings after dropping to third place last year, recording the biggest fortune in the history of the list.
“Not everyone in the Hinduja dynasty may be harmonious, but their business empire has enjoyed a bumper year,” the newspaper noted, citing a reported family feud.
Most of their assets are found in companies listed on the Indian stock market. Family shares in Mumbai-based IndusInd Bank are now valued at GBP 4.545 billion. Hinduja’s shares in Hinduja Global Solutions are valued at GBP 1.283 billion. Shares of other listed companies add another GBP 1.174 billion, “it added.
In third place is another Indian-born brother, David and Simon Reuben, and their family wealth is estimated at 22.265 billion GBP.
They are second only to British inventor-entrepreneur Sir James Dyson and family, in second place with an estimated 23 billion GBP.
Further down in sixth place is NRI steel tycoon Lakshmi N Mittal with 17 billion GBP, who has added about 2.3 billion GBP to her fortune since last year through ArcelorMittal Steelworks.
Other rich people of Indian descent in the 2022 list include metal agile industrialist Anil Agarwal at 16th with an estimated GBP 9.2 billion, retailer Mohsin with an estimated GBP 4.73 billion and Juber Isa at 39th and Prakash Lohia at 41st. It is ranked 69th with an estimated GBP 4.37 billion and Simon, Bobby and Robin Aurora GBP 2.543 billion.
Also in the top 100 are NRI industrialist Lord Swaraj Paul and family and Barsha and Naveen Engineer jointly at No. 72 (GBP 2.5 billion), followed by Biocon founders Kiran Majumder-Shaw and Jan Shaw at No. 75 (GBP 2.496 billion) and hotel owner Jasminder. Singh and family at number 99 (GBP 1.824 billion).
Overall, the UK now has a record 177 billionaires, six more than 2021, and their combined wealth is 653 billion GBP – 55 billion (9.4 per cent) more than the billionaires’ total wealth on Sunday last year. Times Rich List ‘.
Annual tally measures identifiable assets, such as land, property, horse racing, significant shares in industry or publicly quoted companies. Bank accounts, where the newspaper says it has no access, and small shareholders in a private equity portfolio are excluded.
(This story was not edited by NDTV staff and was automatically generated from a syndicated feed.)