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7 Things About the Billionaire New British Prime Minister

5 Mins read

7 Things About the Billionaire New British Prime Minister

He is reported to have a fortune of £730m together with his wife. Although a significant chunk of it is an inherited fortune from his wife. We’ll get to that in a bit. Some even credit him to be richer than King Charles III. And while the UK has seen a series of Prime ministers in the last few months, an uncertain cloud already sets over him as polls suggest he is not a popular choice among the voters right now.

He is coming in at a very crucial time, especially with the economy. And whether we like it or not, he is already a live experiment as he is first on so many grounds. Becoming Britain’s Prime Minister at 42 years (born in 1980) is an amazing accomplishment in itself. His name is Rishi Sunak.

Here are a few things to know about him:

1. Rishi Sunak Was Born in Southampton, UK

The first thing anybody would notice about the new PM is that he has no English names. And it begs some curiosity since he would be PM of the land of the English. And so, the first thing you should know is that he was indeed born in Southampton, UK.

His parents, however, were not born in the UK. His both parents were born in Africa. His dad was born in Kenya and his mom in Tanzania.

But he is Indian, right? Of course! His parents are Hindu — Indian Punjabi descent. Rishi is the eldest of three kids. His brother is a psychologist and his sister works for the UN.

3. He Worked at Goldman Sachs

After graduating from Oxford in 2001, he went to work for Goldman Sachs as an analyst. He left in 2004.

He pursued an MBA at Stanford afterward. It was there he went his wife.

He returned to the United Kingdom in 2006 and took a job with The Children’s Investment Fund Management (TCI). He was made partner after 2 years.

In 2009, he left to join another hedge fund, Theleme Partners. He was also a director of the investment firm Catamaran Ventures, owned by his father-in-law, the Indian businessman N.R. Narayana Murthy between 2013 and 2015.

4. His Wife is One of the Richest Women in Britain

Her name is Ashkata. She is the daughter of N.R. Narayana Murthy, founder of the Indian multinational IT company, Infosys.

She holds a 0.93% stake in Infosys, making her one of the wealthiest women in the UK. She also has shares in several other businesses in the UK.

She is a director of Digme Fitness and digital transformation company Soroco which she co-founded with her brother, Rohan Murthy.

Rishi got married to Ashkata in 2009 and they have 2 daughters.

5. He is Hindu and Doesn’t Drink Alcohol

Oh yeah, he is not a Christian, unlike other British PMs. But he doesn’t talk about his religion or beliefs much. He also doesn’t drink alcohol, but instead, refers to himself as a Coca-Cola addict.

He is one of Coca-Cola’s die-hard fans that will never drink any other kind of Soda, not even Coke Zero. His favorite is not the regular coke. It’s called Mexican Coke — made with cane sugar.

Mexican coke (Photo by Gerard Richard on Unsplash)

6. He’s had an Interesting Political Career

Rishi Sunak has arguably had the fastest political career rise ever in modern British politics.

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In 2010, Sunak began working for the Conservative Party. During this period he also became involved with Policy Exchange, a leading Conservative Think Tank, for which he became head of the Black and Minority Ethnic (BME) Research Unit in 2014.

In 2014 Sunak was chosen as the Conservative Party’s candidate for the House of Commons representing Richmond in North Yorkshire, a safe Conservative seat in the north of England long held by the one-time party leader (1997–2001) William Hague.

He was elected as MP for the constituency at the 2015 general election. During the 2015–2017 parliament he was a member of the Environment, Food and Rural Affairs Select Committee.

He supported Brexit (the UK leaving the European Union) at the June 2016 EU membership referendum.

He was re-elected at the 2017 general election and served as parliamentary under-secretary of state for local government between January 2018 and July 2019.

Sunak voted for then-Prime Minister Theresa May’s Brexit withdrawal agreement on all three occasions.

He supported Boris Johnson in the 2019 Conservative Party leadership election and co-wrote an article in The Times newspaper with fellow MPs Robert Jenrick and Oliver Dowden to advocate for Johnson during the campaign.

He was appointed as chief secretary to the Treasury by Prime Minister Boris Johnson on 24 July 2019, serving under Chancellor Sajid Javid. He became a member of the Privy Council the next day.

During Sunak’s tenure as second-in-command at the Treasury ministry, tensions were rising between his bosses, Chancellor of the Exchequer Sajid Javid, and PM Johnson. When Javid resigned in February 2020, Johnson replaced him with Sunak, who, at age 39, became the fourth youngest person ever to hold that position.

On 5 July 2022, Sunak resigned as Chancellor of the Exchequer.

On 8 July 2022, Sunak stood in the Conservative party leadership election to replace Johnson. He and Foreign Secretary, Liz Truss emerged as the final two candidates in the contest on 20 July to be put forward to the membership for the final leadership vote. In the membership vote, Truss received 57.4% of the vote, making her the new leader over Sunak.

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Following the resignation of Liz Truss on 20 October 2022, Sunak was thought to be a possible contender for the abridged leadership contest, along with Penny Mordaunt and Boris Johnson, who had resigned as Prime Minister before Liz Truss’s appointment.

On 23 October, Sunak declared that he would stand for election. After Johnson ruled himself out of the race and Mordaunt withdrew, Sunak was announced as the new Leader of the Conservative Party and subsequently as Prime Minister of the United Kingdom.

7. Noteworthy Historical Counts

Rishi Sunak was appointed Prime Minister of the United Kingdom by King Charles lII on 25 October 2022.

He is the first British-Asian Prime Minister.

He is the youngest Prime Minister on appointment since 1812.

More importantly, he is the richest person ever to become a British PM.

He is also the prime minister who has had the fastest rise in the modern era from being elected as an MP to becoming prime minister. It took him 7 years.

Conclusion

In recent times, we have seen a number of young people rise to top government positions in the world. We’ve had Obama (USA), Trudeau (Canada), and Macron (France). And how successful they have been is very subjective. You get varying answers depending on who you ask.

Is Rishi Sunak going to be just like one of them?

How well will he handle the UK economy?

Will he stand a general election?

And most importantly, how long would he stay in that office?

Source: Richculturemedia.com

 

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